Article published on: 2007-04-18

Bulgaria's central bank BNB said on Tuesday that three banks and two online payment companies, all licensed in European Union countries, have notified it of their intentions to begin operations in Bulgaria.

The banks are Dutch ING Bank, Germany's Bayerische Hypo - und Vereinsbank AG (HVB) and UK-registered CIT Bank Limited.

The two e-payment companies are FirePay UK Ltd and Google Payment Limited, both registered in the UK.

ING Bank and HVB already have direct or indirect operations on the Bulgarian market.

Bulgaria, which joined the European Union in January, is required to automatically open its financial services market to any institution already licensed in another EU member state.

Last month, eight banks notified the BNB of their intention to begin operations in Bulgaria.

Source: www.novinite.com and www.sofianewsagency.com