After the legal merger of CIBANK JSC, only the new United Bulgarian Bank has remained on the market.
There are no changes for the clients of UBB and CIBANK, resulting from the legal merger.
Yesterday the legal merger of CIBANK JSC into United Bulgarian Bank AD (UBB) was registered in the Commercial Register. Thus CIBANK has ceased to exist as a separate legal entity and its clients have automatically become clients of UBB. The merger of the two banks is a process which aims at bringing the new, bigger UBB, to the forefront.
„The legal merger of CIBANK into UBB is the next step into the consolidation of the business of the Belgian KBC Group in Bulgaria. We have arranged the processes in such a way so as to enable the almost seamless transformation of the organization in the eyes of clients. The ultimate goal is to make the even bigger bank UBB an exemplary financial partner – with speed, flexibility, attitude, servicing, modernity, dynamics and innovative spirit. The driver of all this is our 3-year strategy for customer service quality. I believe this is going to become visible as early as the current year“, UBB’s Chief Executive Officer, Mr. Peter Andronov commented.
There will be no changes, affecting the clients of UBB and CIBANK as a result of the legal merger. There is no need to have credit and debit cards reissued either, until expiry of their validity. The terms and conditions on loans, deposits and other products and services are being retained, in accordance with the agreements signed with each of the two banks.
As per the Bulgarian laws, the accounts of all present clients of CIBANK will have IBAN numbers, containing the name of UBB, namely – UBBS. This future change is going to occur after several months. It is purely technical and will not affect client accounts in any manner whatsoever. The former and new IBAN numbers are going to function in parallel by the end of November 2018. All clients will be informed of eventual changes, relevant to them, through their preferred information channels, communicated to the Bank – e-mail, personal letter, telephone call, SMS.
The stage-by-stage collocation of UBB and CIBANK branch networks is going to continue also over the next six months. This process was launched as early as August last year, as since then until now a total of 32 branches have opened their doors for servicing clients of both banks.
Since the beginning of March servicing of UBB clients will be also enabled in all former branches of CIBANK. Thus the Bank’s customer touchpoints will increase by 30% and will number 245 branches throughout Bulgaria.
Over the months to follow the former clients of CIBANK may continue with visiting their familiar bank branches, as well as already collocated ones.
Any up-to-date information, relevant to clients, will be published on the corporate website in an especially dedicated section: https://www.ubb.bg/unitedforyou, while the branch network employees and the Contact Centre officials at 0700 117 17 are ready to answer any queries.