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EIBANK (Bulgaria) appoints new CEO

On 1 March 2008, Mr Peter Andronov was appointed CEO of EIBANK following the decision taken by the Supervisory Board on 26 February 2008.
The Management Board of EIBANK will also comprise Mr Vassil Simov, who will supervise operations, Mr Alexander Dimitrov, who will be in charge of retail banking and Ms Hristina Filipova, who – as trade representative – will head corporate banking. The EIB Supervisory Board will propose that Mr Frank Jansen be appointed to the post of Chief Financial and Risk Officer.

The decision of the Supervisory Board to appoint Mr Andronov as CEO clearly reflects the implementation of corporate governance rules within EIBANK and the rest of the KBC group, which is to the benefit of all stakeholders. This appointment and the appointment of the other members of the Management Board is the result of the ongoing strategic review and integration process that was announced and set up in December last year. Its purpose was to define EIBANK's future goals for the strategy review, for introducing bancassurance with DZI Insurance, and for optimising the branch network, business lines and staff function.
EIBANK has been a member of the KBC group since December 2007, while DZI (KBC’s Bulgarian insurance subsidiary) became a member earlier in 2007.

With the support of KBC as a strong and stable shareholder in terms of capital investments, know-how, knowledge-sharing and products, Mr Andronov will continue to pursue EIBANK’s strategy and will focus on the further implementation of the bancassurance concept and the continued growth and development of the bank, in close co-operation with DZI.
Mr Peter Andronov is 39 years old and previously worked for the Bulgarian National Bank as Chief Director. He joined EIBANK in April 2007 as Executive Director responsible for risk management, reporting, analysis and planning.

Mr Vassil Simov (49 years old) joined EIBank in 2001 as a Member of the Management Board. In 2002, he was appointed Executive Director and was put in charge of the branch network, procurement and security.  
Mr Alexander Dimitrov is 36 years old and has previously worked for United Bulgarian Bank as Director of treasury operations, risk management and in other areas.

Mr Frank Jansen, the former CEO of KBC France, will join the Management Board in the capacity of Chief Financial and Risk Officer.
Ms Hristina Filipova has worked for EIBANK since its establishment in 1994. She was appointed trade representative in 2000 and was responsible for corporate banking, finance and operations.