Central Cooperative Bank Plc – Bulgaria is a universal commercial bank with a pronounced focus on retail banking belonging to the financial structure of Chimimport Plc. In December 2005 the Bank obtained a banking license, issued by the Central Bank of Cyprus, by virtue of which the Bank is authorized to perform banking operations as a legally licensed bank branch on the territory of the Republic of Cyprus, in compliance with the requirements of the Cyprus Banking Law. The Branch started its banking activities on the territory of Cyprus as of 1 September 2007. One of the main purposes of opening the first branch of the Bank overseas, apart from going abroad, is to grasp the big Bulgarian community that lives and works on the island. Unofficial sources inform that there are more than 30 000 Bulgarians in Cyprus at present. CCB Plc is a long established bank with traditions, expertise and extremely good reputation and Bulgarians have complete trust in it.
The core competence of the Bank is retail banking. The Cyprus Branch offers maintaining and transactions on current and deposit accounts in Euro, US$ and BGN, transferring funds from the Cyprus branch to the rest of the 261 locations in Bulgaria at the most favourable rate on the island, granting of both consumer and mortgage loans to physical and legal persons, debit and credit cards, payment of consumables (electricity, water supply, telephone bills) in Bulgaria, payment to numerous suppliers of a variety of services in Bulgaria (there is a long list available at the Branch’s premises), Internet banking facilities, cash in Bulgarian leva and others.
The Branch joined the local payment system JCC, which will allow a broader assortment of services. Moreover, the wish of numerous clients who would like to deposit their salaries into their accounts is already a fact.
Currently the Branch’s staff is 5 with perspective to increase with the increase of business. All staff are highly educated and speaking several languages amongst which are Bulgarian, Greek, English, Russian, Persian. Two of the staff have previous experience in serving the Cyprus International Business Companies (the so called “offshore clients”), which increases the array of offered services.
The branch celebrated its first birthday on the Cyprus market on 3 October 2008. It hosted many dignitaries at the Cyprus Branch’s premises - the Minister of Finance - Mr. Charilaos Stavrakis, the Minister of Tourism and Industry – Mr. Antonis Paschalides, many other distinguished guests – representatives from the Central Bank of Cyprus, Inland Revenue office, businessmen, lawyers, auditors, finance consultants as well as clients of the Bank.
Last but not least the Cyprus Branch is conveniently located at the main artery of Nicosia – Makarios Avenue, which facilitates the clients arriving from other towns and villages in Cyprus.