DSK Bank was established in 1951 as a state savings institution – the only deposit and credit institution in the country at that time. With the adoption of the Law on DSK Reformation dated April 15, 1998, DSK was transformed into a commercial bank.
In January 1999 DSK became a state-owned stock company named DSK Bank. In October of 2003 after a successful privatization OTP Bank of Hungary became the sole owner of DSK Bank. As a result of the swift adaptation to the high standards of OTP Group and the large-scale investment program of the Hungarian owner, the Bank managed to implement a very successful transformation program, making the transit from a state-owned institution into an exceptionally operating and efficient private bank. Along with its subsidiaries it managed to build a strong financial group of dynamically developing companies, modern and flexible, focusing on the needs of all its clients and offering wide variety of services, including pension insurance, asset management, security, cash collection and transportation, recreation-related services, etc.
Not only did DSK Bank establish itself as a preferred partner in banking. It is the most recognizable bank in Bulgaria according to the latest survey held by Ipsos, one of the leading global market researchers, and investor.bg. It is the first bank, which comes to mind for 34% of survey respondents. In tems of top of mind awareness DSK Bank is again an undisputed leader with 77%. In the bank brands category DSK Bank is named the most preferred brand with 32% of survey responses.
Servicing some three million customers, DSK Bank practically reaches every Bulgarian family. Disposing of the largest branch network in Bulgaria, the bank has an incomparable service-provision infrastructure, it is well acquainted with the local potential and offers high level of servicing through individual approach and full range of bank products and services, which are tailor made to the needs of all customer segments, SME included.
Against the backdrop of a dynamically changing European landscape, corporate banking and the business for SME and micro enterprises gained a strategic segment status. In this sense, one of the Bank’s achievements in the last five years was the establishment of a specialized EU funds unit – DSK Bul-Project. The new unit proved itself to be a leading partner in the process of utilization of European structure and cohesion funds, offering municipalities and companies tailor-made products and services.
DSK Bank is the first bank in Bulgaria to have set up a project finance unit. Together with OTP Bank it realized the first project-funded real estate deal in Bulgaria – the construction of the commercial and entertainment complex Mall of Sofia.
One of the areas to which the Bank has streamlined its efforts in recent years is enhancing the accessibility of bank services through modernization, expansion and diversification of distribution channels. In 2006 the Bank launched its own card authentication center. The e-banking platform DSK Direct, which is constantly enriching its functionalities, has established itself as one of the most reliable and user-friendly tools, providing DSK customers with the freedom to manage their funds 24/7 from anywhere in the world. In 2009 DSK Bank developed a DSK Direct version for mobile phones – with DSK Direct Mobi the Bank’s clients can have access to their funds through their mobile phones. As a customer-focused bank trying to provide its clients with easier and more convenient access to bank services in their dynamic life, on July 1, 2011 DSK Bank launched its first smart phone-based application for users of Android, and in August a similar application was launched for the users of iPhone. These applications help users be up to date with the news and events, with DSK Bank’s promotional campaigns, as well as with the BNB’s exchange rates, and find the closed DSK Bank office or ATM with the help of Google Maps. With the help of an inbuilt currency calculator the users can easily calculate the amount they need to exchange at the Bank’s office.
DSK Bank is one of the pioneers in Bulgaria in terms of corporate social responsibility (CSR) as well. It was one of the first companies and the first bank in the country to issue an annual CSR report as the first visible step towards a structured SCR policy. It is not by accident that in 2009 the Bank received two awards in the competition organized by Pari newspaper for the socially responsible company of the year – in the category Charity, which is the core and starting point for the setting up of CSR practices, and for innovative approach to CSR. The latter award was given to DSK Bank for turning its efforts on improving the financial culture of its employees and clients into a DSK Bank’s trait.
Deservedly, in 2011 DSK Bank was awarded Causes 2011 prize for its support to SOS Kinderdorf Bulgaria. In 2011 the Bank became a gold corporate SOS family sponsor, undertaking a commitment to provide full annual financial support to two SOS families. In 2012 the Bank reiterated its commitment, turning into tradition its empathy with children lacking in parental care.
Another CSR achievement are the Bank’s sustainable environmental initiatives, sealed with contracts with companies specialized in paper, office equipment and tyre recycling, as well as the construction and reconstruction of the Bank’s premises according to the new corporate vision and in compliance with the Energy Efficiency Law and the Environmental Law. For its impressive green concept, underlying the design of the new administrative building of the Bank’s Head Office and the reconstruction of other Bank’s buildings in the country, in 2011 DSK Bank was pronounced The Greenest Company of 2010 in the first national competition, organized by b2b Media.
Traditionally the Bank is one of the financial institutions with the most sustainable performance and its Y2011 results prove it. Its net income from interest is BGN 520,7 mil., which marks a growth of 5,2% compared to Y2010. The Bank reported a positive financial result of BGN 85.3 mil.
In 2011 DSK Bank remained an undisputed leader in a number of categories as well: loans to individuals with a market share of 30%, consumer loans – 32%, mortgage loans – 28%, and individual deposits –16%. In terms of cost-to-income ratio it is leader with 34,8% among the top ten banks in the country.
The top position of DSK Bank in a number of segments on the Bulgarian banking market, the Bank’s aspirations to optimally merge tradition and constant renewal, setting up and maintaining of high banking standards, found their deserved recognition in 2010 both in the country and abroad. The prestigious British magazine Finance Central Europe (FCE) pronounced DSK Bank The Best Bank of the Decade 2000 – 2010 in Bulgaria, as well as the The Best Bank in Bulgaria 2010, and for the fifth time in a row the Bank’s CEO Violina Marinova became The Banker of the Year in Bulgaria 2010. DSK also won the prize Bank of the Year in Bulgaria in the highly renowned competition Bank of the Year Awards 2010, traditionally organized by the British magazine The Banker.