03-11-2010 15:19:29
Bulgarian Development Bank (BDB) received a short-term loan in the amount of EURO 20 mio from HYPO NOE Gruppe Bank, Austria. The contract has been signed by the Executive Directors of the two banks on November 3rd, 2010. This is the first loan that Bulgarian Development Bank receives from HYPO NOE Gruppe Bank, Austria.
HYPO NOE Gruppe Bank is one of the largest banks in Lower Austria (North-eastern region of Austria). The services, which the Bank provides to more than 61 000 clients, include financing of short-term credits, mid-term and long-term investment projects, leasing, consultancy and securities trading. As of 30.06.2010 the assets of the Group amount to EURO 11 862 mio and the net profit is EURO 24.6 mio.
Bulgarian Development Bank is a state-owned financial institution with a majority shareholder the 
Ministry of Finance. At the end of September this year the Bank contracted a EURO 12 mio credit line with Citibank, Bulgaria. Until now BDB has attracted more than half a billion leva in the form of credit and guarantee lines from foreign financial institutions without a state guarantee and only during 2009 BDB has attracted resources in the amount of BGN 300 mio.
