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Over 80 % of Bulgaria's banks are European

Date: 03.12.2005

The Bulgarian financial sector has already stepped into the EU's parlor and is facing the Union's competition. Over 80 percent of assets of the Bulgarian banking system are property of investors from the Eurozone. Tsvetan Manchev, sub-governor of the Bulgarian National Bank (BNB) broke the news at the first financial exhibition "Finance for All."

The corporate management in the sector has improved considerably along with the sharply growing competition. We believe that financial consultants will become an essential part of our economic life, as this is the normal course of market development, Manchev added.

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