BNP Paribas began to operate in 1994 as BNP-Dresdner Bank (Bulgaria) AD with a 40% shareholding by BNP and Dresdner Bank each, and a 20% participation by European Bank for Reconstruction and Development.
Following the merger between BNP and Paribas in 2000, BNP Paribas bought out Dresdner Bank’s shareholders to become BNP Paribas (Bulgaria) AD. It was then transformed into a 100% subsidiary of the BNP Paribas Group in 2004.
Since 2006, BNP Paribas has been present in Bulgaria through two business entities: Cardif Life Insurance and Cardif General Insurance. Then, in 2007, BNP Paribas acquired the consumer credit company JetFinance to establish BNP Paribas Personal Finance Bulgaria.
In order to strengthen its position in the local market and to fully integrate with its other subsidiaries, BNP Paribas Bulgaria also became a full licensed branch of BNP Paribas S.A in 2007.