Introduction of the euro in the Republic of Bulgaria / Fibank

The euro – the official currency of the Republic of Bulgaria from January 1, 2026

On January 1, 2026, the Republic of Bulgaria will join the eurozone and become the 21st Member State of the European Union to adopt the euro as its official currency.

The other Member States of the eurozone are: Austria, Belgium, Germany, Greece, Estonia, Ireland, Spain, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Finland, France, and Croatia.

The date of introduction of the euro has been determined by a Decision of the Council of the European Union, in accordance with Article 140(2) of the Treaty on the Functioning of the European Union.

The introduction of the euro will be performed at the official exchange rate of BGN 1.95583 to EUR 1, which is the irrevocably fixed exchange rate of BGN to EUR, as set down in a Regulation of the Council of the European Union adopted in accordance with Article 140(3) of the Treaty on the Functioning of the European Union. One euro is made up of one hundred cents.

To ensure that customers of First Investment Bank AD (Fibank, the Bank) are well informed, below is an overview of the key points and information related to the introduction of the euro, from the perspective of the products and services offered by the Bank.

Currency Conversion
On January 1, 2026, all funds in BGN-denominated accounts (current, deposit, savings, fundraising, liquidation, etc.), loans, and related products will be automatically converted to euros at the official exchange rate (BGN 1.95583 to EUR 1).

No currency conversion fees will be charged.

All accounts will retain their International Bank Account Number (IBAN).

In accordance with the principle of continuity, the introduction of the euro will not affect the validity and effect of existing agreements with customers (for loans, accounts, deposits and other banking products and services) that contain references to the lev, and no signing of new agreements will be required.

The currency conversion will be carried out in accordance with the Law on the Introduction of the Euro in the Republic of Bulgaria (the Euro Law), by dividing the BGN numerical value by the full numerical value of the official EUR exchange rate, expressed in six digits with all five decimals. The official exchange rate shall not be rounded or truncated when performing the currency conversion.

After currency conversion, the resulting amount will be rounded to the second decimal digit in accordance with the mathematical rules for rounding:
- when the third decimal digit is less than 5, the second decimal digit remains unchanged;
- when the third decimal digit is equal to or greater than 5, the second decimal digit is increased by 1.
Dual Display
The dual display period (in EUR and BGN) will begin no later than one month after the date of entry into force of the Decision of the Council of the European Union on the adoption of the euro by the Republic of Bulgaria, and will end 12 months after the day of the introduction of the euro.

During the dual display period, at least the following information will be displayed in both currencies:
- The Tariff of Fees and Commissions;
- The opening and closing balances on current and other accounts in BGN, opened before January 1, 2026 – in paper or electronic account statements provided in the Bank’s offices or upon request;
- The value of payment transactions on all accounts opened in BGN before January 1, 2026, and the amount of the fees and commissions due – in payment orders/account statements on paper, or in My Fibank electronic banking, when applicable;
- The value of transaction and the account balance after the transaction, upon cash withdrawals from ATMs – in ATM receipts;
- The outstanding balances on loans and the payments due on loans, granted to consumers in BGN under the Consumer Credit Act and the Real Estate Loans Act, upon request by customers – at the Bank’s offices on paper, or electronically through My Fibank electronic banking and the mobile application, where applicable;
- The principal, interest and other payments made on loans granted in BGN, upon request by customers – in account statements provided at the Bank’s offices on paper, or electronically through My Fibank electronic banking and the mobile application, where applicable;
- The accrued interest on deposit accounts in BGN, opened before January 1, 2026, upon request by customers – on paper at the Bank’s offices, or electronically through My Fibank electronic banking and the mobile application, where applicable.
With regard to investment services:
- The Tariff of Fees and Commissions – Chapter I Individuals, Section VIII Financial Instruments, and Chapter II Business Clients, Section XI Financial Instruments;
- The opening and closing balances on current and other accounts in BGN, opened before January 1, 2026 – in paper or electronic account statements provided in the Bank’s offices or upon request;
- The total value of customers' financial instruments – in statements from the Bank's financial instruments register, as well as in periodic reports to customers;
- Fees and expenses due pursuant to Art.71, para 2, p.4 of the Markets in Financial Instruments Act – in orders and confirmations for transactions in financial instruments, as well as fees and expenses withheld – in periodic reports to customers.
With regard to services offered as an insurance intermediary of Fi Health Insurance AD:
- the total amount due under insurance agreements concluded during the dual display period, as well as the payments due under insurance agreements with deferred premium payment.
Dual Circulation

Starting on January 1, 2026 and for a period of one month, BGN banknotes and coins will continue to be legal tender on the territory of the Republic of Bulgaria (dual circulation period). After the expiry of this period, the euro will remain the only legal tender on the territory of the country.
Euro Banknotes and Coins
Euro banknotes consist of different denominations, the most common being: 5 euros, 10 euros, 20 euros, 50 euros, 100 euros and 200 euros, all of which are legal tender in all countries of the eurozone.

Euro coins consist of different denominations: 1, 2, 5, 10, 20 and 50 cents, 1 euro and 2 euros. Each country in the eurozone may define its own design for one of the sides of its euro coins. The main elements in the design of Bulgarian euro coins national side are the Madara Horseman, St. Ivan of Rila, and Paisius of Hilendar. All euro coins, including those with a Bulgarian national side, can be used as legal tender in all countries of the eurozone.

Before January 1, 2026, First Investment Bank AD will:
- supply companies with euro banknotes, euro coins and euro coin starter kits. Supplying will be subject to agreements concluded between the Bank and the company.
- sell euro coin starter kits to individuals and companies at the official exchange rate.
Euro banknotes, euro coins and starter kits received cannot be used before January 1, 2026.

The requirements of the Anti-Money Laundering Measures Act and the Anti-Terrorism Financing Measures and Distribution of Weapons of Mass Destruction Act apply.