Bulgaria's BACB to acquire Tokuda Bank

BACB plans to purchase some 6.796 million voting shares in Tokuda Bank with a par value of 10 levs ($5.45/5.11 euro) apiece, the lender said in a statement, without providing further details.

The deal is subject to regulatory approvals, BACB noted.

With assets totalling 485.4 million levs at the end of last year, Tokuda Bank was the 17th largest lender by assets in Bulgaria, according to central bank data. The bank, founded in 1994, posted a net profit of 7.47 million levs in 2023.

Meanwhile, BACB was the 12th largest lender in Bulgaria at the end of 2023, with assets of 2.79 billion levs.

As of 1015 CET on Tuesday, shares in BACB traded 19.18% higher at 8.70 levs on the BaSE market of the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)