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General Information

BDIF Establishment, Functions and Activities

The Bulgarian Deposit Insurance Fund (BDIF) is a legal entity, established under the Law on Bank Deposit Guarantee and functioning since January 1999.

The BDIF activity aims at maintaining the stability of and the public confidence in the banking system. Its major functions include:

  • determining and collecting annual premium contributions from all banks participating in the deposit insurance system;
  • investing its funds in low-risk and highly liquid securities issued by first class issuers, and deposits with the Bulgarian National Bank (BNB);
  • repaying in-full the insured deposit amounts of physical persons and legal entities up to the statutory limit;
  • contributing to the efficient execution of the restructuring of credit institutions pursuant to the Law on Recovery and Resolution of Credit Institutions and Investment Firms;
  • protecting creditors’ interests and controlling trustees’ activities under the terms of the Law on Bank Bankruptcy.

The BDIF is managed by a Management Board, consisting of five members.

The BDIF is a founding member of the International Association of Deposit Insurers as well as of the European Forum of Deposit Insurers.

Management Board
The BDIF is managed by a Management Board consisting of five members, who are designated for a four-year term of office, as follows:
  • the Chairman of the Management Board – by the Council of Ministers;
  • the Deputy Chairman of the Management Board – by the BNB Governing Council;
  • one member – by the Association of Banks in Bulgaria;
  • two members – jointly by the Chairman and the Vice Chairman of the Fund’s Management Board.

Management Board members should have a degree in economics or law and professional experience for at least five years in the field of banking, trade in securities, accounting or finance. Management Board Chairman organises and manages the operating activity of the BDIF and represents the Fund at home and abroad.

BDIF Management Board
  • Matey Matev - Chairman
  • Prof. Valery Dimitrov – Deputy Chairman
  • Lyubomir Datzov – Member
  • Assoc. Prof. Aneta Antonova – Member
  • Dontcho Barbalov – Member

Organisation Chart

BDIF Annual Reports

Provide detailed information on the BDIF activity for the respective year including financial statements, data on banks’ contributions, investment activity, disbursement of insured deposit amounts and control over bankrupt banks.