How do you deal with competition from fintech companies and new financial services—do you see them as a threat, partners, or a stimulus for innovation?
We are seeing increasing integration between traditional banking services and fintech solutions, as well as greater flexibility in response to changing customer needs. This is a clear sign that the sector is not only adapting to global trends but also actively working to create innovations that originate here in Bulgaria.
The digitization of banking services is already at a very advanced stage—bank transfers are initiated through digital channels that provide fast, easy, and convenient banking via mobile devices at an affordable price.
Digital innovations around the world are on the rise, and the banking sector’s contribution in this direction is extremely significant. The accelerated implementation of high-tech solutions improves the overall consumer experience. In this way, banks provide their customers with even higher quality, faster, and more efficient financial services, because the most important thing in banking is the relationship between the consumer and the financial institution. Instant transfers in euros are also set to develop, with banks actively working to provide opportunities for such transfers after the euro is adopted as the official currency in the country.
Technology is changing the very architecture of banking—from back-office processes to front-end solutions for end users.
That is why the sector supports initiatives to increase financial literacy, raise awareness of digital risks, and protect personal data. We believe that sustainable banking in the digital age must put people—the customer—at the center of every innovative solution.

 
In three weeks, we will officially switch to the euro. Is the banking sector ready?
The banking sector is fully prepared for joining the eurozone – it is stable, competitive, and well-prepared. In addition to their financial role, banks also have a key task in communication, as they are the most direct intermediary between people and the new currency. They ensure open and transparent dialogue with customers, partners, and suppliers. Through digital channels, contact centers, and consultations in offices, citizens receive timely information and answers to their questions, which is crucial for building trust and overcoming concerns about the change.
In recent years, banks have invested over BGN 400 million in modernizing their systems, training staff, and effective communication. The aim is to ensure a free, smooth, and secure transition to the euro for both businesses and citizens. These efforts are seen as an investment in the future because, with the joint efforts of institutions, businesses, and society, Bulgaria will take this step confidently, responsibly, and successfully. It is important to emphasize that this is not just about the technical introduction of a new currency. In fact, we are talking about a qualitatively new stage in the development of the Bulgarian economy. Joining the eurozone means deeper integration into European markets, greater competitiveness for our companies, and more sustainable economic growth. This is a process that will strengthen investor confidence, facilitate trade, and provide new opportunities for the development of both businesses and citizens.
In this sense, the challenge becomes an opportunity—an opportunity for modernization, for strengthening economic stability, and for closer integration of Bulgaria into the European economic area. That is why this stage can be seen not simply as a change, but as an opportunity for growth and progress.

 
In the context of digitalization at Post Bank, how do you see the future of banking services?
The rapid development of technology is fundamentally changing the financial sector, and Post Bank is among the institutions setting the direction. The digital transformation at the bank is not just a plan, but a reality, supported by over 100 planned initiatives involving artificial intelligence, covering key areas such as customer service, lending, communication, risk, operational processes, marketing, security, and data analysis.
Post Bank’s digital transformation is distinguished by a clear focus on efficiency. The program covers improving customer’s experience, optimizing processes, modernizing key operations, and developing employees, thereby achieving its main goal—to make technology work for the benefit of the customer and the employee. As part of our vision for digital transformation, at the beginning of the year we implemented a completely new digital banking platform, which just a few months later demonstrated exceptional results and key achievements. The intuitive and modern design, as well as the introduction of several new features in mobile and internet banking, have transformed personal finance management into a different experience—hyper-personalized and easily accessible. We are seeing impressive results, to mention just a few: over 95% of all transactions are online; 113% growth in the volume of transfers via mobile banking over the last year; over 127% growth in the use of digital wallets and a 60% increase in transactions via m-Postbank.

 
What AI solutions are you developing at Post Bank?
Since this year, our bank has been operating two AI development centers, and currently 12 AI projects have already been fully implemented, with another 8 in the process of being implemented by the end of the year, with a combined effect of increasing productivity equivalent to over 105,000 employee hours. AI tools, including chatbots, GenAI assistants, and automation platforms, free employees from routine repetitive tasks and allow them to focus on strategic decisions and spend more time serving customers. The gradual implementation of artificial intelligence has improved customer service by more than 30% and the efficiency of the bank’s processes by over 70%, saving more than 420,000 hours of customer time. We believe that when humans and artificial intelligence work together, we deliver faster, more flexible, and more personalized solutions. Innovation creates real value for our customers and employees, opening up new horizons for the financial sector. That is why we have developed an internal platform for AI + RPA solutions, implemented in over 24 departments. They automate part of the processes in key activities such as credit eligibility checks, call center workload forecasting, customer feedback analysis, and many others. All employees at the bank can use AI in their daily work, saving time on activities such as summarizing documents, calculations, content creation, text merging, and many others. Our ambition is to be not just a bank, but a technology company with a banking license that creates real value for customers and society.
At the heart of this transformation are innovations that are changing the way Post Bank operates and serves its customers. These include intelligent AI assistants that support both employees and customers – from the EVA AI Voice Bot, a voice-based digital advisor that will handle calls to the bank’s call center from the beginning of 2026 and provide immediate assistance 24/7, to the internal AI Chat Assistant, which provides access to procedures and information in seconds, reducing customer service time by over 100,000 hours per year. AI solutions automate communication, analyze customer data in real time, and optimize a range of internal processes and customer service inquiries. The result is faster, more accurate, and more personalized service, and employees have more time for what really matters—taking care of the customer.

 
Post Bank invests heavily in employee training and development—can you share more about the philosophy behind this approach and what effect it has on the team and the business?
We have launched a large-scale internal training and development program for our employees — the Future Skills Academy — which once again confirms our leading position as a top employer in Bulgaria. This long-term project is aimed at all company employees and focuses on building their digital and personal skills.
It is a comprehensive human potential development program aimed at building the skills needed to cope in an increasingly technological world where people play a key role. The program is part of the company’s long-term strategy for sustainable development and its vision for “digital transformation with a human face.” Our goal is to prepare employees for both the present and the future by giving them the knowledge and inspiration to grow in their careers, confidently using technology. We are convinced that investing in the team is the most sustainable investment for any organization. Because the future will not belong to the largest companies, but to those who have the courage to change together with their employees and learn the fastest. We invest in knowledge, team building, and shared values so that we can continue to grow with the people with whom we achieve success every day. Technology is the tool we use to change the way we work today, but people are the real drivers of change. We believe that growth starts from within, and that is why we will continue to develop together. The future is happening now and is being created by people who learn, dream, and believe that they can change the environment.

 
Recently, during the annual General Meeting of Trustees, you were elected chair of the Board of Directors of the Burov Foundation. What will your goals in this organization be?
Yes, that was one of the points, but let me remind you that during the meeting, the foundation’s program of activities was also adopted. It envisages attracting new trustees and donors from the financial and industrial sectors.
During the meeting of the General Assembly of Trustees, it was decided that the foundation will focus its activities on a stronger public presence and sustainable impact by supporting young talents in the field of economics and finance. Specifically, in response to your question, in the year marking the 150th anniversary of Atanas Burov’s birth, I was honored to be elected chair of the board of directors of the foundation. I accepted without hesitation, and we are ready to develop and implement several key objectives that will strengthen the institution’s public influence, making it “the new modern.” The foundation will continue to be the guardian of banking traditions, but it will also be a driver of educational and financial innovation. We are inspired by the legacy of Atanas Burov, but we are looking to the future to shape responsible financial culture and education.

 
You recently received the Mrs. Economy 2025 award. What does this recognition mean to you personally and to the bank?
To be better every day than we were yesterday, to be pioneers in innovation and digitalization, and to develop the economy and business forward. Our customers are our greatest incentive to keep moving forward. This award would not have been possible without the support of my colleagues, our partners, and the shareholders of the Eurobank Group for their inspiration and shared vision, so I would like to thank them all.

 
What do you expect in 2026?
In the coming months, the banking sector will focus its efforts on the new opportunities that membership in the eurozone opens. This is not limited to the internal development of the banks themselves – the opportunities will have a direct impact on households and businesses, which will continue to receive support from banks as strategic and reliable partners.
Finally, allow me to extend my congratulations on Nikulden and Banker’s Day. I wish everyone celebrating their name day all the best in the name of Saint Nicholas the Wonderworker.
At the same time, this is a day that reminds us of the power of trust, stability, and professionalism—values that are at the heart of the banking sector.
Therefore, I wish all colleagues and employees a holiday that brings them health, inspiration, and confidence in their work. Let us continue to build a stable and competitive financial system that supports businesses, households, and society.
 

 
Are your business customers, especially small and medium-sized enterprises, ready?
Communication with our customers began at a very early stage and has gone through various phases because our main goal is to make the transition easy and smooth for everyone. When we say we are ready for the change, we mean exactly that we are committed not only to the technical implementation of the conversion, but also to the entire experience we will go through together to feel and appreciate the historical significance of this moment. We are also paying close attention to our corporate clients, who have received all the necessary instructions and advice from us on what to do to be prepared for the change.

 
What remains hidden from most people is logistics. Behind the introduction of the euro lies a huge operation – literally tons of Bulgarian money must be withdrawn and replaced with euro banknotes and cents. How big is this operation?
The scale is truly enormous. At the end of October, the money in circulation was 25.8 billion levs. The number of banknotes in circulation is over 500 million, weighing over 600 tons. The number of coins in circulation is over 3.3 billion, and their weight is over 10,000 tons. If we loaded them onto trucks, we would need over 400 trucks, and the length of the convoy would be 7 kilometers.
We will have to replace the levs with euro banknotes weighing 520 tons and coins weighing over 3,600 tons. These figures confirm that we are talking about extremely complex logistics that require very precise planning.

 
How exactly will it happen—from the BNB’s warehouses to cash registers and ATMs across the country? How long will it take to replace all the cash, and how will the risk of counterfeit banknotes or abuse be controlled during the transition period?
Since November 1, the so-called initial loading period has been underway, during which the BNB supplies banks with euro banknotes and coins. For their part, banks provide part of this cash to merchants through special agreements so that the latter can give change in euros at the beginning of next year. Until then, this money is not an official means of payment, and merchants are required to keep it separate and not use it for payments. From the beginning of December, merchants and citizens will be able to purchase so-called starter kits with euro coins bearing the national side from bank branches and Bulgarian Post offices. The value of a kit for legal entities is BGN 200 and contains coins worth EUR 102.3, which is the same amount as the fixed exchange rate. The cost of a kit for citizens is BGN 20 and contains 42 coins worth EUR 10.23.
The actual exchange of banknotes and coins will begin at bank branches and post offices at the beginning of next year. To ease the burden in the first days of the year, our advice to customers is not to rush to exchange their money immediately, because we will be able to continue to pay with levs throughout the month of January. Another piece of advice we give to customers is that if they hold larger amounts of cash, they should deposit them into their bank accounts before the end of the year, and we will convert them free of charge and automatically on December 31. To facilitate this process, we are running promotional campaigns until the end of the year to deposit levs into accounts free of charge. In recent months, more customers have been taking advantage of this opportunity, and as a result, the money in circulation has decreased by more than 1/6, or more than BGN 5 billion, since the beginning of the year. In this respect, we are repeating what happened in Croatia in the year before the introduction of the euro, where 40% of the cash in circulation was exchanged or deposited in banks in the months before January 1.
Regarding the risk of fraud and abuse, I would like to remind all customers that levs will only be exchanged at bank branches and Bulgarian Post offices. I urge people to be vigilant and not to trust anyone who offers to exchange money elsewhere or in any other way.

 
Can we calculate how much the entire operation has cost the banking sector so far and what effect the repeated postponements have had?
Over the past few years, banks have invested over BGN 400 million in system improvements, employee training, and communication to ensure a free, smooth, and secure transition to the euro for both businesses and citizens. We see this as an investment in the future because, without a doubt, this is a step in the right direction for Bulgaria. The most convincing evidence is the history of the countries that have already made this transition.

 
Are there any particularities that people should be aware of in the final hours of 2025 and the first hours of 2026? Will all ATMs be loaded with euros, will it be possible to withdraw immediately after midnight, is it possible that there will be any interruptions or delays in payment systems, etc.?
ATMs will be loaded with both levs and euros on December 31. This will ensure that until the last hours of this year, customers will be able to withdraw levs, and from January 1, 2026, all ATMs will dispense only euros. During the holidays, customers will be able to use their bank cards and pay with them at POS terminals.

 
Do you expect the transition to the single currency to have any impact on interest rates on deposits and loans in 2026? In general, what direction do you predict their dynamics to take?
We have some of the lowest interest rates in the eurozone countries. And since I am often asked this question, I would like to emphasize that we will enter with these rates and will be as open as possible so that people can really understand the benefits, the situation we are entering, and the fact that we are an extremely well-capitalized, liquid, and exceptionally stable banking system.

 
After joining the eurozone, banks will be exempt from minimum reserve requirements, and on the other hand, they will see a decrease in revaluation income and an improvement in the capital treatment of euro-denominated government securities in their balance sheets. What will be the final effect on the sector’s performance?
Indeed, banks in the eurozone have a 1% minimum reserve requirement, while in Bulgaria this percentage is currently 12%. After January 1, this will free up BGN 16 billion in liquidity, which can be invested or left with the ECB, for which banks will receive interest. This will largely cover the loss of revenue from currency transactions, but it cannot compensate for the costs incurred for the introduction of the euro, which, as I already mentioned, amount to over BGN 400 million for the entire sector.

 
What do you expect from the sector and the economy in 2026 at all?
Undoubtedly challenging, and that is why it is shaping up to be my favorite! In the coming months, banks will focus on the new opportunities that the eurozone offers – not only for the sector itself, but also for households and businesses, which it will continue to support as a strategically trusted partner. I have emphasized several times that we are not just talking about the introduction of a new currency. We are talking about a new stage in the development of the Bulgarian economy – with deeper integration, greater competitiveness, and more sustainable growth.
 

What are the eligibility requirements for the program, and how can young doctors and nurses apply?
The program is aimed at students at the American University in Bulgaria pursuing a full-time bachelor’s degree, Fulbright scholarship recipients studying at U.S. universities, as well as medical specialists enrolled in postgraduate medical specialization programs at universities in Bulgaria.
 

What are the key benefits and advantages for participants in “Your Future in Bulgaria”?
First and foremost, by providing financial support, our partnership enables young people to stay and develop in Bulgaria. Specifically, the consumer loan for education offers a fixed interest rate of 6% for the entire loan term, a grace period during studies or specialization, and a repayment period of up to 120 months after the grace period ends. The loan will be provided without fees or commissions and without requiring a guarantor. Additionally, 20% of the loan amount will be reimbursed for each year that specialists work in Bulgaria, for a total period of five years after completing their education or specialization.
 

What are your expectations regarding the program’s impact on the medical community in Bulgaria?
Our society must respect our doctors, nurses, and medical specialists. A few weeks ago, I read a news report about the graduation of students from one of our medical universities, which stated that 74% of graduates plan to work in Bulgaria. I hope that soon the long-standing negative trend of graduates choosing to develop their careers abroad will be sustainably reversed.
 

What is your personal motivation and commitment to retaining young medical professionals in Bulgaria?
As the CEO of Postbank and Chair of the Management Board of the Association of Banks in Bulgaria, I fully recognize the importance of supporting young professionals in critical sectors such as healthcare. My personal motivation comes from the deep belief that investing in young medical professionals is not just support for their careers but a long-term commitment to our future.
Bulgaria has exceptional talent in the field of medicine, but to retain them here, we need not only recognition of their work but also real conditions for professional development and a high quality of life. I believe that every society is only as strong as its key sectors are sustainable and well-developed, and healthcare is one of them.
By creating the “Your Future in Bulgaria” program in partnership with the “America for Bulgaria” Foundation, we aim to provide these talented professionals with the necessary financial support, opportunities for professional development, and incentives that motivate them to build a successful career right here in Bulgaria. This not only strengthens our healthcare system but also contributes to the overall development of our society, ensuring that people have access to quality healthcare provided by specialists who feel valued and motivated to stay in the country.
For me, this program represents our long-term vision for sustainable development—to create opportunities that not only address current challenges but also lay the foundation for a stronger, more competitive, and more resilient society.
 
What are the plans for developing the program, and do you intend to expand it?
Although the program is in its early stages, our vision is to turn it into a long-term initiative with a sustainable impact. We plan to expand its scope by including more medical specialties and educational institutions and increasing the number of scholarships.
Additionally, we are considering partnerships with other organizations and companies that share our mission to extend the program to other sectors where support for young professionals is needed. We believe that through collective efforts, we can create a favorable environment for the development and realization of talent in Bulgaria.
 
How can this program serve as a model for other sectors and initiatives supporting young professionals?
The “Your Future in Bulgaria” program not only provides financial support but also creates real opportunities for young specialists to develop in an environment that values and motivates them. It gives them the confidence to pursue their dreams while also offering the flexibility and stability necessary for their professional realization.
This is an initiative that combines individual success with sustainable societal development by encouraging young talent to stay and contribute to Bulgaria’s future.
The program proves that strategic partnerships between financial institutions, non-governmental organizations, and businesses can effectively address key societal challenges. This model of collaboration has the potential to be applied in other sectors, such as information technology, engineering, or education, where there is also a pressing need to retain and develop young professionals.
By providing targeted financial support, mentorship, and long-term professional opportunities, we can not only encourage young specialists to stay in the country but also turn them into active drivers of positive change. We believe that our initiative will serve as inspiration for other organizations looking to invest in Bulgaria’s future by creating sustainable solutions for the development of young talent and the labor market.
 
Could you share some of Postbank’s other successful initiatives?
As one of the leaders in the financial sector setting trends and shaping the direction of development, Postbank is an active participant in the processes affecting Bulgarian society. We support projects in key areas of public life, such as education, culture, sports, and environmental care. We offer modern solutions, high-tech innovations, and innovative products and services that ensure speed, security, and excellent quality for a seamless banking experience. Our mission is to make banking more accessible, faster, and more secure.
We continue to successfully implement our digital strategy, and we believe that Postbank will soon be transformed into a technology company that provides customers with full control over their finances through intelligent, personalized services.
 

Ms. Dimitrova, Postbank is among the leaders in the digitization process. How do you manage to maintain this level over the years?
Postbank has a clear and ambitious digitization strategy that encompasses all aspects of the business—from digital wallets and mobile applications to automating key processes using robotics and artificial intelligence. Our goal is to deliver services that are fast, convenient, and secure, meeting customer needs in real-time with minimal effort on their part.
Let me share here for the first time that, in just two months, Postbank will launch its brand-new platform for internet and mobile banking. This project was completed in record time thanks to the exceptional efforts and dedication of our team, who worked tirelessly to reach this important milestone. The new digital channels feature a modern design, intuitive navigation, and improved customer experience, which will increase user satisfaction and simplify daily operations. Over the coming year, we will gradually introduce additional features and improvements, further cementing our position as a bank focused on digital services and customer satisfaction.

 

Digital wallets are at the core of your strategy?
Absolutely! ONE wallet is one of the leading innovations Postbank offers to its clients. This product not only provides flexibility and convenience but also enables contactless payments anytime, anywhere. With ONE Wallet, clients can manage their finances from their smartphones, performing transactions securely and efficiently. We already have over 100,000 active users of ONE Wallet, and this number continues to grow rapidly. The ongoing development and refinement of this product ensures that we remain competitive in the market and meet rising customer expectations.

 

All of this is directed toward enhancing the customer experience and satisfaction?
Precisely! At Postbank, we strive to ensure that every innovation adds value and benefits our clients. That’s why we invest significant resources to deliver high-tech solutions to the market quickly while ensuring they are effective and bring substantial advantages to our clients and partners.
We believe modern technologies, particularly artificial intelligence, are foundational for the future of business and society.

 

Does automation play a leading role in your digital transformation?
Automation is central to Postbank’s digital transformation, allowing us to optimize key operations, improve service efficiency and accuracy, and free up resources for more complex and strategic tasks.
We have been utilizing RPA (Robotic Process Automation) for some time now. This technology enables us to automate numerous administrative and routine tasks. At Postbank, we have automated over 40 key processes using RPA, including loan application processing, document management, and customer communication. These automated processes significantly reduce service time while enhancing accuracy and minimizing the risk of errors.
The implementation of RPA technologies not only boosts internal efficiency but also enables faster and better customer service. For instance, loan applications that previously took days to process can now be completed in minutes, significantly enhancing the customer experience.

 

Let me take the previous question as a reference to ask about the increasingly convincing integration of artificial intelligence (AI) into people’s professional and personal lives.
Sharing the vision for the development of artificial intelligence and promoting digital skills in Bulgaria, Postbank initiated an exclusive partnership with SoftUni’s newest educational brand, SoftUni AI. This brand focuses on the practical applications of artificial intelligence, and its mission is to help more people acquire new skills and enhance their qualifications by leveraging the opportunities offered by AI tools. Through our collaboration with SoftUni AI, we at Postbank aim not only to support education in this field but also to strengthen the connection between business and education. With its innovation and commitment to the future of technology, the bank contributes to creating a sustainable and competitive economy where digital skills and artificial intelligence play a key role.
We believe that through our partnership with SoftUni AI, we will help build new professional skills that enable everyone to explore new career opportunities. At the same time, we will support the development of innovations in Bulgaria by showcasing the broader applications of artificial intelligence across various sectors of the economy.

 

What programs does Postbank have in support of the country’s transition to a more sustainable and inclusive economy?
Two months ago, we signed a partnership agreement with the International Finance Corporation (IFC), a member of the World Bank Group. This significant collaboration involves financing worth €140 million, divided into two directions. Half of the funds will support micro-, small-, and medium-sized enterprises managed by women entrepreneurs, and the other half will back green projects. This strategic initiative underlines Postbank’s commitment to promoting the country’s sustainable development while providing excellent solutions and easier access to financing under preferential conditions, aiming to create positive changes in the environment.
Thanks to this agreement, we can help companies better adapt to climate challenges and offer new opportunities for women entrepreneurs in the country, who play a key role in the development of a sustainable economy.

 

What CSR policies do you pursue to support positive societal changes?
This question alone could be the basis for an entire interview. I’ll try to select a few examples. We announced a large-scale strategic partnership with Sofia Municipality – Vitosha District, aiming to improve the urban environment and enhance financial literacy among students in the area. As part of the first phase of this collaboration, the bank committed to financially supporting the renovation and beautification of a key location— “Zname na Mira” Square in the Pavlovo neighborhood. This initiative is part of the “DobroDETElite na Sofia” campaign, which encourages various businesses to support the renovation of 130 playgrounds, aiming to create a more pleasant and functional environment for the city’s residents and guests. Through this partnership, the bank reiterates its long-term commitment to social responsibility and sustainable development, continuing to invest in the environment and the youth in Bulgaria.
We are convinced that together we can create not only more welcoming spaces but also provide essential knowledge to the younger generation. As a socially responsible company with over 30 years of history and numerous projects focused on improving the environment, supporting education, and caring for young people, we stand behind the cause of ensuring more children have safe places to play. This partnership builds on our previous efforts to improve the spaces around us – both in the beautiful Vitosha Mountain and now in the urban environment.

 

You are also the Chairperson of the Management Board of the Association of Banks in Bulgaria (ABB). What initiatives are you working on there?
Together with colleagues from other commercial banks that are members of ABB, we have made a clear decision to prepare for Bulgaria’s entry into the Eurozone starting in January 2025. In close cooperation with the Ministry of Finance and the Bulgarian National Bank, we will be ready to act as a reliable partner and see the process through, regardless of the specific date. All banks have invested significant resources, redefined their projects, and adjusted system functionalities and processes.
Beyond our entry into the Eurozone, ABB continues to work on projects aimed at raising the overall level of financial literacy in society. One such initiative is a recently signed three-year memorandum of cooperation between ABB and the University of National and World Economy (UNWE). I would like to thank UNWE Rector Prof. Dr. Dimitar Dimitrov and Vice-Rector for International Activities Assoc. Prof. Dr. Yanko Hristozov for wholeheartedly embracing the idea and actively working to frame the memorandum’s parameters.
ABB strives to stay close to future professionals in the banking and finance sectors, even at the student preparation level. Therefore, it is a logical step for us to maintain a regular exchange of information on internships, discussions, conferences, and other activities with an academic partner as prominent as UNWE.
One of ABB’s primary goals is consistently supporting the country’s economy by allocating significant financial and non-financial resources to key campaigns, such as joining the Eurozone, adhering to regulations, and supporting critical ESG and CSR projects like financial literacy for young people, digitalization, cybersecurity, and many more.

 

At Postbank, we aim to offer personalized financial products and digital services, combining the latest technologies with traditional methods, a personal approach, and professional consultation. We make significant investments in process re-engineering and human resources to create user-friendly applications that enhance the customer experience with us. We continue to invest in the development of our digital service channels and expand the phygital model – for us, this is the future of banking. We utilize many digital solutions that open new opportunities for us. We are modern, but at the same time, artificial intelligence could never fully replace the human factor and the added value that comes from interacting with a real expert, because our clients want to speak with them personally. That’s why we focus on hybrid forms of banking, the complex model between digital and physical services, and the customer experience across different channels and platforms – consistently and in real-time – this is what we are doing at Postbank and what our clients expect from us. Technology is changing work processes and offering another advantage, free time for our employees to focus on experiences beyond the work environment.
 
What new developments can we expect as part of Postbank’s large-scale digital transformation?
At Postbank, we are currently working on several key projects that align with our vision for sustainable growth and strategic priorities. We are investing in our digital channels, making them even more intuitive and user-friendly, in end-to-end digital processes that are key to freeing employees from routine tasks, and in our self-service zones, which save our clients time in our revamped branch network. We are currently developing new functionalities for our mobile banking app, m-Postbank. At the beginning of the year, we joined forces with Vivacom in a special partnership aimed at promoting the “Smart POS by Postbank” service, designed to simplify digital payments for small businesses in Bulgaria. The digital transformation of all our departments is a long process, and it will enable us to be more flexible for our clients and faster when they need an immediate financial solution for themselves or their businesses. The end user doesn’t care about what happens behind the scenes – they want experiences and services that simply work. That’s why we strive to make sure they don’t feel the transformation process but only benefit from it. The most important thing in our business is for the customer to feel special and trust us.
 
What are your most sought-after products and services, and what can we expect in the future?
We are seeing a growing interest in our mobile wallet, ONE wallet by Postbank, where users who are not even our clients can easily and quickly register, as well as in our digital assistant EVA – a chatbot based on artificial intelligence technology that speaks both Bulgarian and English. The service focuses on communication, offering clients real-time consultation. We are soon going to upgrade its functionalities. “Digital people” are becoming employees in more and more industries. Technology is just a tool, but as important as the technology itself is the creation of a culture of innovation internally and having the right people on the team. That’s why we continuously invest in training our employees. We, the people, must select and filter the best of everything that artificial intelligence can offer us, and this applies fully to the banking sector as well. Today, banks are more efficient, more modern, more digital, and much more transparent, and banking services are much more accessible. But I would like to emphasize something important – there are no innovations without financial literacy, and banks have a key role to play in this process.
 
You mentioned financial literacy. Could you tell us what Postbank is doing in this regard?
Banks and credit institutions can and do play a crucial role in improving financial literacy, which in turn helps people strengthen their finances, including their credit rating. Being digitally and financially literate is not only trendy but also a key advantage for success and personal and business development.
Investments in education, skills development, and competency building are by no means new for Postbank. These are our long-term commitments, which is why the bank has implemented numerous initiatives focused on improving young people’s skills, as well as many other programs in the field of corporate social responsibility. Among our leading projects in education are the large-scale initiative with the National High School of Commerce and Banking and the Private Vocational High School of Banking, Commerce, and Finance, strategic partnerships with the American University in Bulgaria, SoftUni, the educational program implemented in collaboration with Finance Academy, and the partnership with Sofia University for the master’s program in “Finance and Banking.” Postbank is also part of the partner community for the mentor program “Mentor the Young,” whose goal is to inspire real change in the professional, career, and personal lives of participants by giving them the opportunity to meet established experts from various market sectors.
For example, with the creation of our innovative program “Project YOUth,” our aim was to expand young people’s access to personalized and secure financial solutions that will help them develop the necessary culture regarding personal budget management, building new savings habits, and responsible consumption.
We also recently launched a large-scale strategic partnership with Junior Achievement Bulgaria, aimed at improving financial literacy among young people in Bulgaria. Through the programs “Personal Finance” and “Practical Finance,” we will equip students with basic financial knowledge and skills to help them make informed decisions in their personal and professional lives and better manage their finances. Our goal is not only to provide the necessary knowledge, practical guidance, and useful advice to young people but also to inspire them to take an active role in shaping their financial future. Therefore, we will continue to dedicate a lot of time and resources to CSR programs related to the financial well-being of citizens, financial sustainability of businesses, financial education, and their importance to the stability of society. I must also note that digitalization and financial literacy are key topics on our path to the Eurozone.
 
In this regard, what are your expectations regarding the benefits of Bulgaria joining the Eurozone and adopting the euro, and are banks prepared for this process?
Whenever it happens, joining the Eurozone and adopting the second most widely used currency in the world is a long-awaited process for Bulgaria. It will positively impact on our economy and serve as a driver for accelerating reforms, improving prosperity, and achieving European living standards. It will bring many benefits to citizens and businesses, not only by reducing transaction costs but also by improving the investment environment – activating local and foreign investments that are expected to support employment. It is expected that the adoption of the euro will stimulate Bulgaria’s international trade, especially in agriculture, services, and tourism, but also in some manufacturing sectors where Bulgaria already has established positions in the EU supply chains.
At the Association of Banks in Bulgaria, we plan to conduct an informational campaign among citizens, relying on the support of the Bulgarian National Bank and the government, to explain all the benefits of adopting the euro, which will significantly improve the environment in which we all do business. All of us – banks, businesses, and the state – must speak with one voice and send clear messages to help our clients, employees, and society navigate the sea of information and misinformation and clearly understand the benefits of adopting the euro. The euro has long been part of our everyday lives. A large portion of real estate prices is already listed in euros, and Bulgarian citizens are already concluding deals and making payments in euros. Entering the Eurozone will open many new horizons for development, support for businesses, and the economy. I would also like to address a concern shared by some people – that the currency conversion will be carried out at the fixed central rate of 1.95583 leva per 1 euro. Existing contracts, such as loans, deposits, or financial instruments in leva or with references to the leva, will not be altered or canceled. Loans and deposits will be converted at the fixed rate. Now is the time to advise clients to use the months before the euro adoption and deposit their money into their bank accounts. We were the first bank with a campaign allowing every client to deposit their money without fees. This meets consumer expectations for convenience and speed in our services and demonstrates our commitment to being a trusted and reliable partner, simplifying processes as much as possible and showing our support for the country’s path to the Eurozone.
 
Lastly, I must ask—what qualities a good leader and the banker of the future should possess?
Certainly, they should be drivers of innovation, while simultaneously being a team player and a visionary. They need to be flexible and open to technology and the new reality. The secret to success lies in making the right decisions, but those decisions are made by knowledgeable, prepared, and motivated individuals who inspire the team around them. The future of any company reflects the mindset of its business leader. I am proud to work with true professionals at Postbank, people who are not afraid of today’s innovations and challenges, but rather turn them into advantages for tomorrow.
 

 
Bulgaria has obviously become wealthier in recent years, despite being labeled as “the poorest country in the EU”…
Obviously. “The poorest” because we compare ourselves only to countries in the European Union. We all forget that there are countries in Europe that are not in the EU. If we compare ourselves with them, including Turkey, we have a better economy and a wealthier population. People in major Bulgarian cities now have a living standard at a mid-European level. Yes, there are many poor people in Bulgaria, but that is the case everywhere. Even in Western Europe and the United States, about 20-30 percent of people are poor or at risk of poverty.
The fact is that Bulgaria as a country is becoming wealthier, and the population is living better. But it is also true that we remain at the bottom in the EU. In the West, economic opportunities are better, and past accumulations allow people to live better. But let’s not forget that In 1997 we started from scratch, with few exceptions. But now we have forgotten that and take an average salary of over 3000 leva in Sofia for granted. This is not bad, as it means people are ambitious to work and earn more. We have shed the mentality of “well, that’s just how it is in Bulgaria, and it can’t change.”

 
Returning to bank profits, what factors are behind them? In the past decade, to compensate for low interest rates, banks massively increased their fees. What can we expect in terms of fees in the future?
Fees certainly cannot grow further. And it is debatable how high they are. Yes, banks restructured service fees and shifted the burden to mostly used services at the expense of more niche ones. Otherwise, common fees are not as high as some people perceive them to be. We always focus on things like the ATM withdrawal fee or branch withdrawal fee. The ATM fee is 1.30 – 1.50 leva per transaction…

 
Still significantly less than in Greece, for example…
In Bulgaria, banks did something different: they created packages for individuals and offer them very successfully. These packages include several transfers, utility payments, withdrawals, and so on. But statistically speaking, banks do not have more than 5 to 8 percent annual increase in fee revenue – and this increase mainly comes from the growing number of transactions performed, not from the price factor. And let’s not forget that banks provide also free payment methods. With a debit card, you can now pay almost everywhere in Bulgaria without cash – and there is no fee for the customer. If the ATM fee seems high, pay by card. People, by the way, do not realize the costs associated with an ATM: rent, security, cash-in-transit service for loading, separate software maintenance and licenses, physical maintenance, and whatnot. Naturally, these costs are passed on to users. For example, in countries like Sweden, ATMs are already disappearing, and it has come to the paradox where banks are forced to maintain a certain number of ATMs regardless of their preferences.

 
The ECB lowered the key interest rate in June but clearly hinted that it will be very cautious with subsequent similar steps. Some analysts claim that the era of low interest rates is irreversibly over and that key rates will remain high due to governments’ growing needs to invest in things like the green transition, defense, and pensions. What do you think? Can this decade of almost zero interest rates be repeated, or will it remain a historical curiosity?
As a student, I never studied about such thing – negative interest rates. Nowhere in the theory of monetary policy did the possibility of stimulating the economy with negative interest rates exist. Obviously, this will not be repeated. And the experiment was not entirely successful. The question is, what do we call “high interest rates”? Everything is relative. Currently, the ECB rates are around 4%…

 
Roughly the same as they were at the beginning of the Eurozone…
They were at that level around 2008-2009 as well. We know what happened after that: as a countermeasure, we went to the other extreme, and then the pendulum swung back. Yes, interest rates may drop to 2.5 or 2%, or they may remain at 4% for a long time. But this is precisely the balancing role of the monetary policy, conducted in a way that stimulates or at least does not restrict economic growth, while keeping inflation within the healthy limits of 2%. Why everyone has accepted that 2% is a healthy inflation rate is another topic. Monetary policy itself is no longer what it was in Keynes’ time. It changes as the world, society, and the economic entities change. So, it’s hard to predict how long the current situation will last. It will probably remain because it seems balanced.

 
Bulgaria managed to maintain some of the lowest interest rates on mortgage loans. Does this, however, carry risks for the banking system? Are there signs of a real estate bubble in our country?
There is certainly no bubble in the Bulgarian real estate market. By the way, when we talk about such a market, it primarily affects five to eight major cities in the country, where the majority of the population is concentrated. In almost all these cities, we have a mechanical increase in the working-age population. In other words, we have increasing demand. It is a huge achievement that we have kept mortgage interest rates low. Today, our clients enjoy some of the lowest rates in Europe. That’s why the volume of loans granted is growing. The number of real estate transactions decreased slightly at the end of last year, but now it is increasing again. There can be no talk of a bubble. Even in the 2008 crisis, there was no bubble in the mortgage market. Things were developing in a normal, natural way back then. The subsequent problems were the result of a sharp increase in interest rates.

 
There was no sharp decline in prices…
No, because the need for housing continues to exist. We have moved away from that patriarchal lifestyle imposed during socialism, where two or three generations lived in one home. Now each successive generation seeks to move out of their parents’ home. This is possible thanks to the banks. Just 20 years ago, there was no mortgage lending in Bulgaria. Around 2002, the first mortgage loans began. And in a situation like today, when, thanks to low interest rates, mortgage payments can be lower than paying rent, the incentive to buy your own home is huge. Here, and in the Balkans and Southern Europe in general, we love owning our homes. Yes, of course, it limits the mobility of the labor force. But on the other hand, we get additional protection. If something saved Bulgarians during the big crisis 30 years ago, it was the fact that they owned their homes. Otherwise, the collapse would have been total. So, for me, there is no bubble. I expect prices to rise for some time.

 
The big topic in the financial sector in recent years has been the potential introduction of the euro. Are we ready for it? It is already clear that Bulgaria will not meet the Maastricht criteria and enter the Eurozone at the beginning of 2025. Now there are some absurd talks about joining in the middle of the year, which I don’t know if it’s technically possible…
Technically, anything is possible, although it will be extremely difficult. Setting the middle of the year as a deadline increases the challenges for technical readiness. Otherwise, banks continue to work so that we will be fully prepared by the end of this year. Now we will have to maintain this readiness until the next possible date – most likely January 1, 2026. By the end of the year, if there are no cataclysms, we should meet the inflation criterion. But even the ECB warns that new price shocks could emerge. The second challenge is the budget deficit. We are meeting the requirements at the moment, and I don’t see why we wouldn’t meet them in 2025. Interest rate convergence is already a fact; we take it for granted. There are a few legislative initiatives and changes left to reflect recommendations outside the Maastricht criteria. Are we ready for the euro? If countries like Slovakia and Croatia are in the Eurozone, then we are ready.

 
The question was more about whether we are ready in terms of public approval.
Public approval depends on clearly explaining to people and making them understand the purpose of this move. The discussion has been ongoing for at least a year now, and we expect it to be supported by a strong campaign from the government. People still do not understand why we will adopt the euro. No one remembers that we signed a membership agreement with the EU, which states that we must adopt it.

 
But there is no fixed deadline for this. We could adopt it in 2126…
That’s right, there is no deadline. Why now? In fact, we should have joined not now, but 15 years ago. And we tried, but someone obviously decided that the moment was not right.

 
For most people, the main downside of the euro is related to additional inflation due to the inevitable “rounding” of prices. What are the main risks and benefits in your opinion?
Rounding prices will lead to differences of a few cents. This exists even now: very rarely when paying cash in a store does the seller ask for the small change. Very rarely does the customer asks for it, too. The nominal price may be 2.17, but you actually pay 2.20. This will be the whole effect of the euro. In other countries, someone might take advantage of the fact that people are still unable to navigate the exchange rates. But not here. We are used to the euro, and the proof is that real estate prices are in euros, and in border towns with Greece, stores and gas stations have long accepted and returned change in both levs and euros. Regarding the benefits of joining the Eurozone, I’ll highlight some of them. This is a long-awaited process that will positively affect our economy and is a driver for accelerating reforms, increasing prosperity, and reaching European living standards. It is an important prerequisite for increasing incomes and creating a more favorable business environment, reducing transaction costs, and boosting local and foreign investments with expected effects on employment. Currently, Bulgaria has no say in the ECB, but joining the Eurozone will allow participation in the management and decision-making regarding monetary policy, instead of just bearing the effects of others’ decisions. All banks in Europe follow the same laws and regulations, but being outside the Eurozone, we bear the burdens without the benefits.

 
The current currency board also has another function – it limits the government’s ability to spend recklessly…
That’s why it was introduced.

 
Is it possible that the removal of the currency board and entry into the Eurozone will further untie the hands of Bulgarian governments for irresponsible spending – a trend we seem to be noticing lately?
In principle, such a risk always exists. Just as it does for everyone who is not in the eurozone and does not have a currency board. Every government is tempted to increase spending to stay in power, to buy support. But the possibilities for this are limited by the ECB’s policy and EU rules. They allowed a temporary exception after Covid-19 when they permitted exceeding the maximum allowed 3% budget deficit. But now they are tightening control again and starting procedures against all countries over 3 percent. The most affected will be Romania, Slovakia, but also countries like Italy and France. Many people insist that in good years Bulgaria should not adhere to a 3% deficit, but aim for zero or even a surplus, to reduce debt. This is very reasonable. Yes, there is the other side: we deprive ourselves of opportunities and limit economic growth. But on the other hand, we ensure potential for future development. Because over-indebtedness creates great constraints on that. Fortunately, we managed to stay in good shape – precisely because of the Currency Board.

 
In the last decade, Postbank has made three major acquisitions in the Bulgarian market. Are you interested in new similar deals? How far can the consolidation in the Bulgarian banking sector go?
Consolidation is already in its final phase. Naturally, there will always be room for niche, specialized players. But in a few more years, the consolidation process will be exhausted. Fortunately, this happened because it was a major factor for keeping interest rates low in Bulgaria. The latter is due to the competitive environment and, at the same time, the high liquidity in the banking system.

 
2023 brought significant developments in the field of large language models and Artificial Intelligence in general. Many analysts predict that AI will have the same transformational effect on the economy as the widespread introduction of electricity over a century ago. What does this look like in the banking sector?
Artificial Intelligence is still more noise than actual effect, but it indeed has the potential to bring epochal changes. The difference with electricity is that if it took 30-40 years to build the infrastructure and for everyone to benefit from it, now the infrastructure already exists. AI can enter everyone’s life extremely quickly. Otherwise, its effect can be completely comparable to electricity. We probably won’t be able to imagine life without it soon. AI practically changes the communication between humans and machines. This will transform the world. As for banks, they have been using elements of AI since 2013-2014. The goal is for the customer not to feel that they are dealing with just a machine but to maintain confidence in reasonable and mutually beneficial communication.

 
Postbank has always been among the pioneers in digitalization in the Bulgarian banking sector. What is next in this direction? Do you think that digitalization and new technologies will send bank branches into history? They are already decreasing in Bulgaria…
Yes, and not only in Bulgaria. Such predictions about the disappearance of bank branches were heard 20 years ago. But Postbank’s strategy, although we are leaders in innovation, is not to seek the other extreme. We are currently one of the banks with the largest number of branches. We use the word “phygital” – a combination of physical and digital presence. This will be the strategy going forward. The branches themselves are changing in terms of organization, type of services, and combination of machines and people. More and more people prefer to use electronic or mobile banking instead of going to a branch. But there are also things for which the branch is preferable – to get to know new products that you are not familiar with, to hear competent opinions. This also builds trust – because banks are the masters of trust. Even fully digital banks that emerged years ago have realized that they need a physical presence and a human face.

 
The popularity of digital banking is directly related to the levels of financial literacy in Bulgaria – an issue you have been actively working on for years. How do you assess the financial knowledge of Bulgarians today?
We need to educate our customers as we educate our employees. We put enormous efforts into training our staff; we have many initiatives, our employees are knowledgeable and competent, which directly reflects on the quality of service. But we also need to educate our customers. Unfortunately, at the moment, all initiatives in this area focus on the younger generation. This is very important, of course – they need to be educated. But somehow, no one pays attention to those in later phases of life. If someone were to survey people over 70 – whether they know that there is no fee for card payments at terminals – the majority probably wouldn’t know. There is still fear of using digital channels. That is where banks play a big role – it is up to them to build trust.

 
Accelerating digitalization increases the risk of cybercrime, but on the other hand, it reduces the risk of physical crimes – robberies, etc. What is the balance? Despite grim forecasts, there have been almost no cases of serious cybercrime in Bulgaria in recent years, except for the breach in the National Revenue Agency systems.
And it is better that way. In reality, we put in quite a lot of effort. We in Bulgaria are entering these territories a bit later and can use the experience of others to protect ourselves. In this sense, we are largely protected by established practices and means in other countries. Of course, we are still not a highly attractive target. When we enter the Eurozone, we will become more attractive to the vanguard of cybercriminals, whereas now accounts in levs are only interesting to criminals in Bulgaria. AI works for both good and bad. In countries where it is entering the fastest, families already invent code words to ensure that the person on the phone is indeed a family member, not a deceptive simulation. Otherwise, the voice is the same, the intonation, the vocabulary…

 
About ten years ago, the so-called Environmental, Social, and Corporate Governance (ESG) was touted by many as the biggest future challenge for banks. Has that turned out to be the case?
In Bulgarian conditions, it is still in its infancy. Banks have always been ahead of others in this direction due to the high degree of regulation in the sector. When we talk about ESG, everyone usually focuses on the first letter, on ecology, and forgets about the others. But banks have enough accumulated experience from the past regarding social responsibility – the middle letter – and can now build on it. In any case, the responsibility and privilege fall on the banks in Bulgaria to be leaders and set trends in the field of environmental, social, and corporate governance.