Bulgarian Banker Elected Deputy Head of European Public Banks Association

The European Association of Public Banks has elected as its Vice President the CEO of the Bulgarian Development Bank, Sasho Chakalski.

Chakalski got elected to the top management of one of the most prestigious European banking organizations on Tuesday in Brussels during a general assembly meeting of the EAPB.

His bid was supported unanimously by the 35 members of the administrative council of the EAPB.

Thus, Chakalski will be in charge of EAPB's relations with the EU regulatory bodies in Brussels. Before his election as Vice President, he was a member of the administrative council of the banking association.

Chakalski has been the CEO of the Bulgarian Development Bank since 2001 (the BDB was formally set up in 2008, when the government modified the previously existing state development bank called "Encouragement Bank"). Before that he work for the French bank Societe Generale for five years. Chakalski is fluent in English, French, and Russian.

The European Association of Public Banks was founded in 2000 in order to represent the interests of the state and development banks at the EU level. Its membership includes about 100 members from the sector of public-private investments, from a total of 16 countries

At the end of 2009, the total market share of the EAPB members was about 15%, and their assets were over EUR 3.5 T. The Bulgarian Development Bank has been a member of the organization since May 2005.