The Bulgarian Deposit Insurance Fund posted its 2012 Annual Report. BDIF Management Annual Activity Report and the annual financial statements for the review year are now available in electronic form in Bulgarian and English.

BDIF Management Annual Activity Report renders the implementation of the priorities outlined under the 2011-2014 Governance Strategy: timely access of depositors to their guaranteed amounts, alternative methods for bank resolution, risk management, adequate funding and safe and transparent asset management, effective communication and maintenance of depositors’ confidence, good corporate practices and transparent and effective governance. 2013 budget and plans are also accounted for.

‘BDIF 2012 Annual Report reflects our ongoing efforts to improve the performance of the institution and to facilitate a better understanding of deposit guarantee by the depositors’, said Mr. Rossen Nikolov, BDIF Chairman, adding: ‘Streamlining operations with a view to providing better deposit protection, along with boosting depositors’ confidence in banks and BDIF alike helps maintain the national financial system stability.’

The Appendices to the BDIF Management Annual Activity Report present the major financial indicators, make a review of the economic environment, the banking system in 2012 and the deposit guarantee scheme in Bulgaria, the investment policy and asset management, and give an outline of the international legal seminar hosted.

BDIF Financial Statements are prepared in compliance with the International Financial Reporting Standards and certified by an independent auditor.