The prestigious financial magazine Global Finance has distinguished United Bulgarian Bank as the best bank in Bulgaria in the field of Trade Finance. The award was officially served on the 16^th of January, 2019, during the BAFT Europe Bank-to-Bank Forum in London, when the 19^th consecutive World’s Best Trade Finance Providers annual awards were given out by the Global Finance international magazine. They distinguish the best banks in the area of trade finance among 95 countries worldwide.

The prize is of special significance to UBB, which receives the honour during its very first participation in the competition as a part KBC Group and during a dynamic period of integration and transformation.

“I am proud that the survey of Global Finance has distinguished UBB with this award. For us, it is an acknowledgment of the high professionalism and service quality, rendered by the UBB Trade Finance team. The award is a proof that despite the challenging geo-political, economic and technological environment, we support our clients and partners, providing them with the highest level of service.” Peter Andronov, Chief Executive Officer of UBB, remarked.

The Global Finance ranking is being prepared by the editors’ board. The awards are a benchmark for outstanding achievements in the financial industry and the winners are being determined according to objective and subjective criteria. Among those the objective criteria are: volume of transactions, scope of the global coverage, profitability, servicing of clients, competitive pricing, innovations, etc. The subjective criteria include the opinions of industry analysts, rating agencies, corporate managers, technology experts, clients and counterparties from the industry. As a result, the winning banks are not always the biggest, the oldest or the most diversified, but rather - the most proven ones in a specific domain.

About the awards

Global Finance magazine was founded in 1987. Its seat is in New York and it has over 50 050 subscribers and readers in 188 countries. Its audience involves senior corporate and finance officials, responsible for making investment and strategic decisions in multinational companies and financial institutions. For over 32 years the magazine has been selecting the leaders among banks and other providers of financial services.