Notification for replacement of the BIR as a reference rate for existing loans

Dear Clients,

In connection with the adoption of the euro as the official currency as of December 31, 2025, the Bulgarian National Bank will discontinue activities related to the calculation and publication of the BIR (Base Interest Rate) index.

In view of the above and in accordance with DSK Bank’s Action Plan in case of significant changes or discontinuation of the preparation of interest rate benchmark indices (“the Plan”), as of the 01.01.2026, DSK Bank will replace the interest rate index “BIR,” used as a reference rate for existing loans to business clients, with the 1M Euribor.

For existing loans in BGN to legal entities, after their conversion into euro under the Law on the Introduction of the Euro in the Republic of Bulgaria, the new reference interest rate will be equal to the 1M Euribor, reduced by a discount, so that the final interest rate remains unchanged as of the date of the replacement.

The discount will be calculated as the difference between the last announced value of BIR, available here, and the value of the 1M Euribor published for the same reference period, the amount being 0.141%.

If you have any questions or need additional information, you may visit any DSK Bank office.

Sincerely,

DSK Bank Team