After car and company registrations, Romanians turn to Bulgaria for bank deposits

Bulgarian banks have seen a significant growth in deposits over the last two months thanks to Romanians and Greeks who deposit their savings in banks there, according to Bulgarian officials and bankers, quoted by Novinite.com. This comes after the media has reported about Romanians who started registering their cars to Bulgaria due to lower taxes and business owners who prefered to incorporate their companies in Bulgaria, instead of Romania, to benefit from better taxation. According to the bankers, the Bulgarian banks' stability and their more attractive interest rate policies are the main reasons for the interest of Greek and Romanian citizens and companies, writes Novinite.com. Only 45 percent of Bulgaria's population had sufficient income to be able to put aside regular savings in the last five years, according to a survey quoted by Novinite. See the full article here. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)