UniCredit Bulbank’s private banking group ranked first in business results across all of UniCredit's Central and Eastern Europe (CEE) banking groups.

The bank group looked at all of its private banking departments and measured annual growth by volume of managed funds, total assets and other growth factors, according to a bank press release.

“I would like to express my gratitude to the head of the Private Banking Department in Bulgaria, Nadezhda Nincheva and the entire private banking team for the significant effort they put throughout the previous year in the development of private banking in Bulgaria,” Daniela Croitoru, head of private banking for the CEE region, said in the release.  

The Bulbank private banking group experienced a 55 percent growth in the volume of managed funds last year, as well as an increase in client transactions.

“The award is an important recognition for the direction of development of the private banking of UniCredit Bulbank when it comes to sustainability and growth," Nincheva, head of the private banking department, said in a press release. "This recognition strengthens the leadership position of the bank’s private banking on a group level and in the country as a whole."

For the past three years, the private banking unit of UniCredit Bulbank has ranked in the top three UniCredit operations in the  CEE.