Bulgaria Banking & Financial Services Q4 2020
Bulgaria's financial services industry will continue to come under pressure from the fallout of the Covid-19 pandemic,which we expect will trigger a deep recession in 2020. However, our longer-term view of the industry remains broadly positive, withrising incomes and robust economic activity to support growth over the forecast period. The recent admission into the ERM II is animportant step that should encourage further integration into the regional banking system and provide additional stability. MajorEU-based financial groups are set to maintain a dominant position in Bulgaria, with consolidation likely across financial servicesectors.
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