Investment opportunities in Bulgaria!

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BILLIAM
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INVESTMENT

Postby BILLIAM » Sat Nov 26, 2011 12:48 pm

Hi,
When i was staying in my apartment in St Vlas in September i meet an English guy who lives there who said you can get 10% interest on a Bulgarian savings account which sounds very nice, but i have always been told that putting your money in a foreign bank is very risky.
Bill.

BG9374

Re: INVESTMENT

Postby BG9374 » Sat Nov 26, 2011 3:45 pm

BILLIAM wrote:Hi,
When i was staying in my apartment in St Vlas in September i meet an English guy who lives there who said you can get 10% interest on a Bulgarian savings account which sounds very nice, but i have always been told that putting your money in a foreign bank is very risky.
Bill.


Did a non Bulgarian bank tell you that? When you shop around, how many shops recommend the competition? Same goes with countries, include those within Europe, they don't like populus getting savvy and moving out there money, lose taxation and control.

Rate I believe is no 7% including guarantee upto 100kleva? Research to confirm.

Sure somewhere if BG banks (very general allegation that all BG banks) are that what the source said find some evidence on the net.

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allet
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Re: INVESTMENT

Postby allet » Sat Nov 26, 2011 6:24 pm

BILLIAM wrote:Hi,
When i was staying in my apartment in St Vlas in September i meet an English guy who lives there who said you can get 10% interest on a Bulgarian savings account which sounds very nice, but i have always been told that putting your money in a foreign bank is very risky.
Bill.


Gone are the 10% days, but a reasonable 7% is still achievable. Spread your money amongst banks to be safe. I do not think that any bank in any country is 100% safe in the current economic times.

Cheers,

Allet

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Mat
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Postby Mat » Sun Nov 27, 2011 4:57 pm

Remember they are backed to the first 100K by the state - not that I'd want to risk asking Uncle B for the cash if the banks do go down....

BG9374

Postby BG9374 » Mon Nov 28, 2011 9:25 am

Mat wrote:Remember they are backed to the first 100K by the state - not that I'd want to risk asking Uncle B for the cash if the banks do go down....


NB 100k group accounts I think. If deposit 100k in three banks of all have same owner only covered for 100k. Same in every European country.

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brianj42
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Postby brianj42 » Mon Nov 28, 2011 9:29 am

The BG stock exchange (http://www.bse-sofia.bg/) would be a good bet if you could get your head around it. Very down at the moment, but when the tide turns. :wink:

BTW: "Thomas Cook got bank finance over the weekend sending shares in Thomas Cook soaring 32% this morning"

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Mat
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Postby Mat » Mon Nov 28, 2011 9:44 am

BG9374 wrote:
Mat wrote:Remember they are backed to the first 100K by the state - not that I'd want to risk asking Uncle B for the cash if the banks do go down....


NB 100k group accounts I think. If deposit 100k in three banks of all have same owner only covered for 100k. Same in every European country.


per saver, per authorised institution.

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Postby Mat » Mon Nov 28, 2011 9:46 am

brianj42 wrote:The BG stock exchange (http://www.bse-sofia.bg/) would be a good bet if you could get your head around it. Very down at the moment, but when the tide turns. :wink:

BTW: "Thomas Cook got bank finance over the weekend sending shares in Thomas Cook soaring 32% this morning"


No chance - too illiquid, too corrupt and no protection for minority shareholders. There are plenty of stories (including good friends of mine) who lost a lot on various share scams on big companies here.


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