30.09.2014

Dimitar Dimitrov, Kiril Ananiev and Atanas Katsarchev have been elected as members of the Supervisory Board of Bulgarian Development Bank AD on the Bank's General Meeting of Shareholders that was held today. The long experience in BDB's management and building up, including in the drafting of the Bulgarian Development Bank Act, as well as the proven professional skills of the new members of the Supervisory Board will contribute to the faster efficient implementation of the policies and the achievement of the bank's objectives. The members of the new Supervisory Board are replacing the current members Prof. Nikolay Nenovsky, Denitsa Kirova and Emil Karanikolov. The changes will enter into force after their entry into the Commercial Register.

BDB AD is functioning in an economic and financial environment that requires the management of the public funds of the only state-owned bank in the country to be performed more and more transparently and efficiently. In this context BDB AD should strengthen its role of a source of strategic ideas on the basis of the practice, experience and knowledge in preparing and pursuing the government policy on encouragement of small and medium-sized enterprises adequately to the market needs, without violating competition and in cooperation with the other credit institutions. We would like to remind you that the Minister of Finance exercises the rights of the state in the capital of the Bulgarian Development Bank (with a 99,99% interest in the capital of the bank).

The new Supervisory Board:

Kiril Ananiev is Deputy Minister of Finance in the caretaker government. In the period 1998 - 2009 he was Deputy Minister of Finance in three consecutive governments. He was also Financial Policy Secretary for the administration of the President of the Republic of Bulgaria and Advisor to the political cabinet of the Prime Minister. In the period 2006 - 2009 he was member of the Supervisory Board of Encouragement Bank AD/ Bulgarian Development Bank AD.

Atanas Katsarchev is tax and financial consultant, with long managerial experience. He was Deputy Minister of Finance, chairman and member of the Management Boards of commercial enterprises; at the moment he is Advisor to the Minister of Finance. In the period 2001 - 2006 he was member and in the period 2006 - 2009 - Chairman of the Supervisory Board of Encouragement Bank AD/ Bulgarian Development Bank AD. 

Dimitar Dimitrov has proven professional and managerial experience in the banking sector. He was Executive Director of UBB, Deputy Minister of Economic Development, Deputy Governor of BNB, Executive Director of BCC and others. In the period 2001 - 2011 he was member of the Management Board of Encouragement Bank AD/ Bulgarian Development Bank AD.