Bulgarian Development Bank Appoints New CEO
Wednesday, 25 September 2013
The Bulgarian Development Bank (BDB) appointed Dimo Spasov as its new chief executive officer and Bilyan Balev as his deputy, the bank said.
Spasov will also chair the bank’s management board, the bank said in a letter to the Financial Supervision Commission.
Former CEO and chairman of the management board, Assen Yagodin, will remain on the bank’s management board.
Management board members Iliya Karanikolov and Hristo Karamfilov will leave the bank.
No changes have been made to the composition of the bank’s supervisory board.
State-owned BDB promotes Bulgarian small and medium-sized enterprises through easier access to financing. It provides both direct loans to businesses and credit lines through commercial banks.