The Bulgarian Deposit Insurance Fund posted its 2013 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 outlines the European and global initiatives for new financial architecture and reports on the 3-year 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. 2014 budget is also accounted for.

‘BDIF 2013 Annual Report provides an overview of the progress made in accordance with the Strategy adopted in 2011,’ said Mr. Rossen Nikolov, BDIF Chairman, adding, ‘Our achievements so far give us confidence that BDIF will continue to accept the challenges ahead and execute its statutory functions, thus helping maintain the depositors’ confidence and the stability of the banking system’.

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 2013 and the deposit guarantee scheme in Bulgaria, as well as the investment policy and asset management.

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