Postbank wins European Bank for Reconstruction and Development’s award

Postbank wins European Bank for Reconstruction and Development’s award

2 July 2021

Postbank has won for the 7th time the high award of the European Bank for Reconstruction and Development (EBRD) – Most Active Issuing Bank in Bulgaria in 2020, at the EBRD’s 30th Annual Meeting, which was held online and hosted by London.

Postbank recorded a total volume of transactions of EUR 3 million under the EBRD’s Trade Facilitation Programme in 2020. With the help of the programme, the bank actively supports the foreign trade activities of Bulgarian companies by providing them with a full package of products that minimizes risks and provides them with opportunities for development on foreign markets. Postbank, which started offering factoring services on the Bulgarian market in 2004, traditionally reports excellent results and for another year is a leader on the market of factoring services in Bulgaria. The financial institution achieved an over 47% market share of the total volume of factoring business and approximately a 60% share of export factoring. Postbank maintained its annual volume of factoring services in 2020, compared to 2019, despite the complicated economic situation and the challenges posed by Covid-19. Postbank offers its factoring services in over 70 countries in Europe, Southeast Asia, North and South America.

"Receiving the prestigious award of the European Bank for Reconstruction and Development for the 7th time is a recognition of the efforts of the whole team and Postbank is honoured to accept it. Postbank invests in the development and the support of the entrepreneurial ecosystem by backing good ideas and projects because they bring added value to the economy and boost standards, welfare and competitiveness. The award is a clear confirmation of our long-term working partnerships based on professionalism and excellent expertise, so it further encourages us to continue working in this direction," Postbank said.

During the award ceremony, EBRD Director-General Odile Renaud-Basso emphasized the unprecedented disruptions to international trade caused by the global pandemic. “I know how hard you have all been working since the pandemic struck and I know we will overcome that crisis too " she added.

The award ceremony in London was part of the EBRD's 30th Annual Meeting. A business forum on innovations, digital transformation, building and developing better and more sustainable economies was held in parallel to the ceremony. The five-day virtual business forum offered its guests a dynamic discussion programme of broad topics, as well as a series of special events. The event was attended by leading finance and economy experts, businessmen, representatives of state institutions.

The EBRD was established in 1991 to contribute to the economic progress and to facilitate the transition to a market-oriented economy of the countries of Central and Eastern Europe, committed to the principles of democracy. The bank is owned by 68 countries and two intergovernmental institutions – the European Union and the European Investment Bank. Through its investment policy, the EBRD supports and assists in the implementation of structural and sectoral reforms in the countries it operates in, the development of competition, the stimulation of private initiative and the development of the infrastructure needed to support the private sector.

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