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Bulgarian c-bank widens Borica payment institution license scope

Author Mario Tanev
Bulgarian c-bank widens Borica payment institution license scope Photo by Dennis Jarvis.

SOFIA (Bulgaria), September 18 (SeeNews) - Bulgaria's central bank said that it has extended the scope of the payment institution license of local company Borica.

Under its widened license scope, Borica can now also offer payment initiation services and account information services, the Bulgarian National Bank (BNB) said in a statement on Tuesday.

Borica's net profit rose by an annual 25.7% to 7.76 million levs ($4.39 million/3.97 million euro) in 2018, backed by a 15% increase in operating revenue, to 39.3 million levs, according to the company's annual financial statement.

(1 euro = 1.95583 levs)

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