Asen Yagodin, Postbank: 30 Years of Leadership, Innovation, and Sustainable Growth in the Name of Our Clients

 
Mr. Yagodin, your professional career in banking began in early 1993, specifically with Postbank. What have been the most exciting and most challenging moments during this period?
My career began over 30 years ago at what was then Bulgarian Post Bank, and as I think back to 1993, I can’t help but smile. Time really does fly. It was an exciting period because the banking sector in Bulgaria was in its infancy, offering endless opportunities for growth and innovation (smiles). Incidentally, the same holds true for today, even so many years later. The most exciting aspect was the challenge of creating new processes, products, and services that catered to the needs of end clients. I was fortunate to be part of a hardworking team dedicated to transforming Postbank into a modern, competitive institution capable of standing alongside the international banks entering the market at that time. Even now, I am proud to belong to a team that continues to strive for excellence and sets high standards for banking in Bulgaria.
As for challenges, there have been many. From the banking crisis of 1996–1997, when 17 banks collapsed, leading to the introduction of the currency board, to the turmoil and wave of bad loans following the 2008–2009 global financial crisis, and more recently, adapting to the realities of increasingly digital banking channels and the expected widespread adoption of artificial intelligence.
 
The competition in Bulgaria’s banking sector is intense. What sets Postbank apart from other banks in the market?
I don’t want to delve into technical details or product specifications, though many of our products are unique and sought after by clients even without extensive advertising. What I believe truly sets us apart is the strength and presence of our brand. For 32 years, we’ve proudly been called Postbank, and people recognize it as a guarantee of quality. They know that behind the name stand trusted experts and professional consultants. They also know that when they come to us, they will receive products tailored to their needs alongside excellent service. And most importantly, they can rely on our understanding and adequate support if a problem arises—unlike the old joke about banks giving you an umbrella in sunny weather only to take it back when it starts to rain (laughs).
 
What are your most in-demand products and services?
Meeting the needs and expectations of our clients is at the core of every product and service we offer. We boast one of the most comprehensive portfolios of products for both businesses and households. I can confidently say that no client who comes to us leaves without finding what they need, whether they reach out online or visit a branch.
We recently launched our “Digital Mall” via “PB Personal Finance,” the newest member of our family (formerly the Bulgarian branch of BNP Paribas Personal Finance), which we successfully integrated after acquiring it.
Regarding demand, banking has a certain “seasonality,” with notable peaks—mortgage loans in spring, consumer loans in autumn. However, there is also the challenge of “creating” demand by anticipating clients’ needs. For example, Postbank was the first in the country to introduce an initiative to eliminate fees for cash deposits in BGN into personal accounts. This supports Bulgaria’s efforts to join the eurozone and adopt the euro as its national currency. This service has seen particularly high demand recently.
 
What is your perspective on digitization in the banking sector, and how is it reflected in Postbank’s operations?
At Postbank, we make significant investments in reengineering processes and human resources to create user-friendly applications that enhance the client experience. Digital payments play a critical role in driving economic growth, fostering innovation, and improving user convenience.
Our mobile wallet, ONE Wallet by Postbank, continues to gain popularity as more people recognize the convenience of managing their finances directly from their smartphones. To further improve the user experience, we developed our digital assistant, EVA—a chatbot using advanced artificial intelligence technology.
Additionally, our unique digital zones for express banking exemplify the added value provided through sustainable digital solutions, aligning with our policy of promoting digitization.
 
What current projects are you working on, and where do you see Postbank heading in the future?
We are working on several key projects aligned with our vision for sustainable growth and strategic priorities. We continue to invest in developing our digital service channels and expanding the phygital model—the hybrid combination of digital and physical banking services. Providing a seamless experience across multiple channels in real time is what our clients expect, and it’s precisely what we’re delivering.
As part of our ESG strategy, we are focusing on reducing our environmental impact and supporting critical social causes. For instance, we are continuously expanding our product portfolio to meet the needs of clients interested in sustainable investments and supporting projects in education, environmental protection, and entrepreneurship.
This year, we are placing particular emphasis on financing sustainable business projects. We have already signed a guarantee agreement with the European Investment Fund and are actively working on agreements with the EBRD and IFC.
Another essential topic for us—and society—is improving financial literacy among young people. We are committed to sustainable practices and corporate social responsibility campaigns because we believe they are crucial not only for the long-term success of the bank but also for our entire society.
 
What lessons have you learned during your extensive career as a top manager in banking?
I’ve learned never to tolerate processes or individuals that don’t align with my personal values. Staying true to my convictions has been essential as I’ve led teams and made decisions. I’ve also learned the importance of being open to new ideas and continuous self-improvement.
Leadership is about understanding people—their strengths and weaknesses—so tasks can be assigned effectively and teams motivated. I’ve realized that even the smallest role in a team is vital for achieving shared goals. Professional growth is a journey, not a destination, and every milestone reached can open new and exciting horizons.
 
What are your proudest achievements, and what’s your next big goal or challenge?
Starting as a cashier in a Sofia branch of Bulgarian Post Bank and rising to my current role as Deputy CEO and Head of Corporate Banking and Financial Markets has been a rewarding journey. Over the past decade, my team and I have doubled our corporate client base, tripled our loan portfolio, quadrupled deposits, and digitized and optimized numerous processes.
I am proud of the many awards our bank has won thanks to our collective efforts. However, my greatest ambition is to keep learning and achieving new successes with my team. Banking is a field where challenges never end, but it’s all the more exciting when we embrace them wholeheartedly.