Financial Crises & the Presence of Foreign Banks - World Bank

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Financial Crises & the Presence of Foreign Banks - World Bank

42Table: Foreign-owned banks have come to dominate the Bulgarian banking systemOwnership 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002State Number 72 69 25 15 12 7 6 5 7 3 3 2Savings 1 1 1 1 1 1 1 1Share (%) 98.5 96.8 93.6 84.4 76.9 82.5 51.1 17.6 18.1 14.2BulgarianprivateNumber 6 11 15 23 22 13 13 11 7 9 10 10Share (%) 1.5 3.2 6.4 15.6 22.4 15.2 6.9 9.9 10.3 11.2Foreign Subsidiaries 0 3 5 9 10 13 15 16 16Branches 2 4 4 5 7 7 8 7 6Share (%) 0.1 0.6 2.3 25 42 73 72 74All banks Number 79 81 41 41 42 30 34 34 34 35 35 34Assets (BL Bn) 463 582 810 1072 1,089 3,301 8,076 7,589 8,223 9,774 11,90814,558H 2 (a) 0.38 0.33 0.30 0.15 0.11 0.19 0.12 0.11 0.12 0.11 0.09 0.08Notes: (a) H 2 is the Hirschman-Herfindahl index. H 2 is the sum of the squares of each bank’s share of the totalassets in the banking system. H 2 ranges between 1, which represents a situation of monopoly, and 0, which wouldrepresent complete dispersion.Source: BNB; Ignatiev (1997); Miller and Petranov (1996); Miller and Petranov (2001).

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