---
title: "Borica Ad SWIFT/BIC code BSBGBGSFXXX · Bulgaria | Elucidate"
description: "Licensed in Bulgaria: Payment institution (Bulgarian National Bank). SWIFT/BIC code BSBGBGSFXXX for Borica Ad, Bulgaria. 6 branch BICs."
url: https://elucidate.co/directory/borica-ad-bsbgbgsf
---
1. [Directory](https://elucidate.co/directory)
2. [Bulgaria](https://elucidate.co/directory/country/bg)
3. Borica Ad
Bulgaria · Payments & e-money
# Borica Ad
Legal name in the LEI record БОРИКА АД
BORICA AD is a joint-stock company in Sofia. The Bulgarian National Bank (BNB) licenses it as a payment system operator and authorises it as a payment institution. According to its 2025 accounts, the BNB holds 36.11% of its shares and 17 banks hold the rest. It runs the BORICA card payment system and the BISERA euro payment system. It also provides card processing, instant payments and trust services to banks and payment firms. It was formed in 2010 by the merger of BORICA AD and Bankservice AD and took its current name in 2017.
Register status
Licensed in Bulgaria
Payment institution · Bulgarian National Bank
Prudential licence
[1 licence or registration ↓](https://elucidate.co/directory/borica-ad-bsbgbgsf#licences)
BIC **BSBGBGSFXXX** LEI **[485100W9O3MXIP9PCS03](https://search.gleif.org/#/record/485100W9O3MXIP9PCS03)** [Licence no. **201230426**](https://elucidate.co/directory/borica-ad-bsbgbgsf#licences) Connected to Swift [**6** branch codes](https://elucidate.co/directory/borica-ad-bsbgbgsf#branches) [Claim this profile](https://elucidate.co/directory/borica-ad-bsbgbgsf#claim)
## Licences and registrations
Held by БОРИКА АД (LEI 485100W9O3MXIP9PCS03). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [EBA PSD2 Register](https://elucidate.co/directory/register/eba-psd2) Bulgarian National Bank Linked by LEI. Matched by Elucidate to GLEIF on name, country and address. | Payment institutionPayment Institution GLEIF legal name: БОРИКА АД | 201230426 | [Bulgaria](https://elucidate.co/directory/country/bg) | Active | 2017-12-14 | — | - Payment services - Card acquiring - Payment initiation - Account information | [Search the register ↗](https://euclid.eba.europa.eu/register/pir/search) |
The register name differs from the legal name in GLEIF. This can follow a rename. Treat the LEI match as indicative.
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
## Swift network
Swift’s ISO 9362 BIC directory
- **BIC:** BSBGBGSFXXX head office
- **Connection to Swift:** Connected to Swift
- **Swift GPI:** Not on the member list
- **Payment schemes and systems:** [SCT Inst](https://elucidate.co/directory/borica-ad-bsbgbgsf#schemes)
- **Branch codes:** [6 branch codes](https://elucidate.co/directory/borica-ad-bsbgbgsf#branches)
- **BIC first registered:** 2008-08-30
- **Last updated:** 2019-11-27
## Overview
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/borica-ad-bsbgbgsf#overview-sources)
Customers
Not published
Employees
444
headcount · This entity · 31 Dec 2025 · [annual report ↗](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf)
Ownership
Mixed ownership
Firm type
Payment infrastructure
Trades as BORICA
- **Standing:** The Bulgarian National Bank (BNB) approved the end of the firm's operation of the BISERA6 lev payment system. The firm's licence to operate that system lapsed on 1 January 2026, when Bulgaria adopted the euro. The firm still operates the BORICA card payment system and the BISERA euro payment system.
- **Ownership:** The Bulgarian National Bank holds 36.11% and 17 banks and bank branches hold 63.89%, the largest being UniCredit Bulbank (13.84%), United Bulgarian Bank (11.29%) and DSK Bank (11.21%).
- **Major shareholder:** Bulgarian National Bank 36.11% · 31 Dec 2025
- **Head office:** 41 Tsar Boris III Blvd., 1612 Sofia, Bulgaria
- **Company register:** Bulgarian Commercial Register (EIK) 201230426
- **Incorporated:** 12 Aug 2010
- **Former name:** BORICA – BANKSERVICE AD (БОРИКА – БАНКСЕРВИЗ АД)
### Online
- **Websites & references:** [borica.bg ↗](https://www.borica.bg/) [b-trust.bg ↗](https://www.b-trust.bg/en/) B-Trust electronic signature and trust services [infopay.bg ↗](https://www.infopay.bg/) InfoPay multibanking platform [efaktura.bg ↗](http://www.efaktura.bg/en/) E-faktura electronic invoicing [bcard.bg ↗](https://www.bcard.bg/en/) bcard national card and payment scheme [Wikipedia ↗](https://bg.wikipedia.org/wiki/%D0%91%D0%9E%D0%A0%D0%98%D0%9A%D0%90)
- **Official social accounts:** [LinkedIn ↗](https://www.linkedin.com/company/1211793) · [Facebook ↗](https://www.facebook.com/BORICA.BG/)
Sources · 15 pages consulted
1. [borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf)
2. [borica.bg/en](https://www.borica.bg/en)
3. [borica.bg/en/about/akcioneri](https://www.borica.bg/en/about/akcioneri)
4. [borica.bg/en/about/upravlenski-ekip](https://www.borica.bg/en/about/upravlenski-ekip)
5. [borica.bg/en/about/savet-na-direktorite](https://www.borica.bg/en/about/savet-na-direktorite)
6. [borica.bg/en/products-and-services/uslugi-platejna-institutsiya](https://www.borica.bg/en/products-and-services/uslugi-platejna-institutsiya)
7. [borica.bg/en/products-and-services/plashtaniya-kam-byudjetni-razporediteli](https://www.borica.bg/en/products-and-services/plashtaniya-kam-byudjetni-razporediteli)
8. [borica.bg/documents-and-resources/Finansovi-otcheti](https://www.borica.bg/documents-and-resources/Finansovi-otcheti)
9. [bnb.bg/AboutUs/AUEurosystem/AUAccessionToTheEuroArea/AUAEFIQuestionsAndAnswers/POAEFI\_QUESTIONSA](https://www.bnb.bg/AboutUs/AUEurosystem/AUAccessionToTheEuroArea/AUAEFIQuestionsAndAnswers/POAEFI_QUESTIONSANDANSWERS7_BG)
10. [forbesbulgaria.com/2025/11/28/borika-prekratyava-platezhnata-sistema-bisera6-ot-1-yanuari-2026-g-zaradi-prem](https://forbesbulgaria.com/2025/11/28/borika-prekratyava-platezhnata-sistema-bisera6-ot-1-yanuari-2026-g-zaradi-preminavaneto-kam-evro/)
11. [investor.bg/a/539-banki-i-zastrahovateli/422905-ot-1-yanuari-borika-preminava-kam-obrabotka-na-platez](https://www.investor.bg/a/539-banki-i-zastrahovateli/422905-ot-1-yanuari-borika-preminava-kam-obrabotka-na-platezhni-operatsii-v-evro)
12. [borica.bg/en/products-and-services/Platejna-sistema-BORICA](https://www.borica.bg/en/products-and-services/Platejna-sistema-BORICA)
13. [money.bg/companies/nikola-bakalov-ceo-na-fibank-e-preizbran-za-chlen-na-saveta-na-direktorite-na-b](https://money.bg/companies/nikola-bakalov-ceo-na-fibank-e-preizbran-za-chlen-na-saveta-na-direktorite-na-borika.html)
14. [borica.bg/en/about/istoriya](https://www.borica.bg/en/about/istoriya)
15. [bg.wikipedia.org/wiki/%D0%91%D0%9E%D0%A0%D0%98%D0%9A%D0%90](https://bg.wikipedia.org/wiki/%D0%91%D0%9E%D0%A0%D0%98%D0%9A%D0%90)
## Authorisation
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/borica-ad-bsbgbgsf#overview-sources)
- **Operates under:** Its own licences
The BNB licenses the firm to operate payment systems with settlement finality: the BORICA card payment system and the BISERA euro payment system. The BNB also authorises it as a payment institution for acquiring payment transactions, payment initiation and account information services.
| Authority | Licence or registration | Number | Held | Status | Source |
| --- | --- | --- | --- | --- | --- |
| Bulgarian National Bank Bulgaria | Payment institution (acquiring of payment transactions, payment initiation, account information) | 201230426 | In its own name | Active | [borica.bg ↗](https://www.borica.bg/en/products-and-services/plashtaniya-kam-byudjetni-razporediteli) |
| Bulgarian National Bank Bulgaria | Operator of payment systems with settlement finality (BORICA card payment system; BISERA euro credit transfers) | — | In its own name | Active | [borica.bg ↗](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf) |
| Bulgarian National Bank Bulgaria | Operator of the BISERA6 payment system for client transfers in leva | — | In its own name | Withdrawn or expired | [forbesbulgaria.com ↗](https://forbesbulgaria.com/2025/11/28/borika-prekratyava-platezhnata-sistema-bisera6-ot-1-yanuari-2026-g-zaradi-preminavaneto-kam-evro/) |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
## Partners and safeguarding
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/borica-ad-bsbgbgsf#overview-sources)
- **Safeguarding:** Segregated safeguarding accountsAs a payment institution, the firm keeps funds received from payment service users in special protective accounts at credit institutions, as the Law on Payment Services and Payment Systems requires, apart from its own funds. [borica.bg ↗](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf)
- **Payment schemes and card networks:** Swift Direct [borica.bg ↗](https://www.borica.bg/en) TARGET Instant Payment Settlement (TIPS) Access not stated [bnb.bg ↗](https://www.bnb.bg/AboutUs/AUEurosystem/AUAccessionToTheEuroArea/AUAEFIQuestionsAndAnswers/POAEFI_QUESTIONSANDANSWERS7_BG) TARGET (card payment net settlement) Access not stated [borica.bg ↗](https://www.borica.bg/en/products-and-services/Platejna-sistema-BORICA) EBA Clearing STEP2 (SEPA reachability for BISERA) Through a partner [investor.bg ↗](https://www.investor.bg/a/539-banki-i-zastrahovateli/422905-ot-1-yanuari-borika-preminava-kam-obrabotka-na-platezhni-operatsii-v-evro) Visa Access not stated [borica.bg ↗](https://www.borica.bg/en) Mastercard Access not stated [borica.bg ↗](https://www.borica.bg/en)
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
## Products and markets
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/borica-ad-bsbgbgsf#overview-sources)
- Card-issuing platform
- Domestic payments
- Merchant acquiring
- Payment gateway
- Account information (open banking)
- Payment initiation (open banking)
The firm runs Bulgaria's interbank card switch and settlement system and the BISERA euro payment system. It also offers card management and personalisation, ATM and POS services, the blink instant-payment and bcard card schemes, a Swift service bureau and B-Trust qualified trust services. As a payment institution, it accepts card payments for public-sector budget entities.
It serves banks, payment service providers, merchants and public bodies in Bulgaria.
- **Revenue:** BGN 84.3mThis entity · 31 Dec 2025 · [annual report ↗](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf)
- **Payment volume:** BGN 563.1bnValue of transfers through the BISERA6 lev payment system the firm operated (2025) This entity · 31 Dec 2025 · [source ↗](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf)
- **Sells to:** Financial institutions · Public sector · Enterprises · Consumers
- **Serves customers in:** Bulgaria
## Leadership
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/borica-ad-bsbgbgsf#overview-sources)
- **Chief executive:**  Miroslav Vichev Chief Executive Officer Confirmed 29 Sep 2026 · [borica.bg ↗](https://www.borica.bg/en/about/upravlenski-ekip)
- **Chair:**  Radoslav Milenkov Chairperson of the Board of Directors (Deputy Governor, Bulgarian National Bank) Confirmed 29 Sep 2026 · [borica.bg ↗](https://www.borica.bg/en/about/savet-na-direktorite)
- **Chief financial officer:**  Vera Stankova Senior Director "Finance" Confirmed 29 Sep 2026 · [borica.bg ↗](https://www.borica.bg/en/about/upravlenski-ekip)
- **Compliance / MLRO:**  Valeri Ivanov Senior Director "Compliance and Security" Confirmed 29 Sep 2026 · [borica.bg ↗](https://www.borica.bg/en/about/upravlenski-ekip)
- **Executive:** Tsvetanka Mintcheva Deputy Chairperson of the Board of Directors (CEO of UniCredit Bulbank) Confirmed 29 Sep 2026 · [borica.bg ↗](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf)
- **Executive:**  Anna Angelova Director "Payment Institution" Confirmed 29 Sep 2026 · [borica.bg ↗](https://www.borica.bg/en/about/upravlenski-ekip)
## Recent events
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/borica-ad-bsbgbgsf#overview-sources)
1. Jan 2026
Other
The firm moved its card payment system to euro processing when Bulgaria adopted the euro on 1 January 2026.
[borica.bg ↗](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf)
2. Nov 2025
Licence
The BNB approved the end of the firm's BISERA6 lev payment system. The firm's operator licence for it lapsed on 1 January 2026.
[forbesbulgaria.com ↗](https://forbesbulgaria.com/2025/11/28/borika-prekratyava-platezhnata-sistema-bisera6-ot-1-yanuari-2026-g-zaradi-preminavaneto-kam-evro/)
3. Oct 2025
Other
The firm launched a Verification of Payee service for euro payments with four pilot participants.
[borica.bg ↗](https://www.borica.bg/attachments/BobsDocument/25/docs/GFO-2025.pdf)
4. Dec 2024
Other
The BNB and the firm began taking part in TIPS, so that Bulgarian payment service providers could make euro instant payments.
[bnb.bg ↗](https://www.bnb.bg/AboutUs/AUEurosystem/AUAccessionToTheEuroArea/AUAEFIQuestionsAndAnswers/POAEFI_QUESTIONSANDANSWERS7_BG)
5. Sep 2024
Leadership
Shareholders elected Petya Dimitrova of Postbank and Nedelcho Nedelchev of Municipal Bank to the Board of Directors.
[money.bg ↗](https://money.bg/companies/nikola-bakalov-ceo-na-fibank-e-preizbran-za-chlen-na-saveta-na-direktorite-na-borika.html)
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
## Identifiers
Head-office record
- **BIC:** BSBGBGSFXXX
- **How the BIC breaks down:** 1. BSBG Bank 2. BG Country · Bulgaria 3. SF Location 4. XXX Branch · head office
- **Branch description:** Not recorded in the directory
- **LEI:** 485100W9O3MXIP9PCS03
- **LEI record:** [View on GLEIF ↗](https://search.gleif.org/#/record/485100W9O3MXIP9PCS03)
- **Licence no. · EBA-PSD2:** 201230426
- **How the LEI was matched:** BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file. Register entry: Matched by Elucidate to GLEIF on name, country and address.
- **Register-entry ID:** 5c615bccf421
## Profile
- **Type:** Payments & e-money
- **Regulation:** Prudential licence
- **Register licences:** [1 entry on 1 register](https://elucidate.co/directory/borica-ad-bsbgbgsf#licences)
- **Activities:** - Payment services - Card acquiring - Payment initiation - Account information
- **Licensed in:** [Bulgaria](https://elucidate.co/directory/country/bg)
- **Country · region:** Bulgaria · Europe & Central Asia
- **Banking supervision:** Not on the ECB's list of supervised entities as of 2026-07-01
- **Trading venues (MIC):** No MIC registered under this LEI list of 2026-09-17
- **OFAC sanctions:** No listing cites this BIC
- **EU sanctions:** No listing matched this BIC or its LEI
- **Country sanctions:** No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
## Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
## Addresses
- **Registered address:** TZAR BORIS III BLVD. 41 SOFIA 1612 BULGARIA
- **Operational address:** TZAR BORIS III BLVD. 41 SOFIA 1612 SOFIA BULGARIA
## ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- **Identified by:** BIC, with its LEI
- **Roles in CBPR+:** Any agent, including the instructing and instructed agents
### CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
```xml
BSBGBGSFXXX
485100W9O3MXIP9PCS03
```
### Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
```xml
BSBGBGSFXXX
485100W9O3MXIP9PCS03
BORICA AD
SOFIA
BG
TZAR BORIS III BLVD. 41 SOFIA 1612
```
The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
## Payment schemes and systems
EPC registers of 2026-09-11 · ECB T2 list of 2026-07-02 · ECB TIPS list of 2026-09-01 · SIX Bank Master valid on 2026-09-28
| Scheme or system | Since | Registered with | Note |
| --- | --- | --- | --- |
| SEPA Instant Credit TransferISO 20022 messages | 2025-11-10 | Head office | — |
SEPA dates are when the institution became ready for the scheme.
An institution missing from T2 may still be reachable through an indirect participant.
“ISO 20022 messages” marks a scheme or system whose rulebook or operator specifies ISO 20022 for messages between participants.
## Network
### Branch network
All 6 branch BICs connect to the head office. Most were registered in 2024 (3 BICs) and 2023 (2).
### Branch codes
| BIC | Branch | City | Address | LEI | Updated |
| --- | --- | --- | --- | --- | --- |
| [BSBGBGSFBOR](https://elucidate.co/directory/borica-ad-bsbgbgsf-bor) | — | Sofia | TZAR BORIS III BLVD. 41 SOFIA 1612 SOFIA BULGARIA | — | 2024-06-08 |
| [BSBGBGSFGUA](https://elucidate.co/directory/borica-ad-bsbgbgsf-gua) | — | Sofia | TZAR BORIS III BLVD. 41 SOFIA 1612 SOFIA BULGARIA | — | 2024-08-10 |
| [BSBGBGSFIOP](https://elucidate.co/directory/borica-ad-bsbgbgsf-iop) | T2 INTEROPERABILITY | Sofia | SOFIA SOFIA BULGARIA | — | 2019-11-27 |
| [BSBGBGSFRTG](https://elucidate.co/directory/borica-ad-bsbgbgsf-rtg) | — | Sofia | TZAR BORIS III BLVD. 41 SOFIA 1612 SOFIA BULGARIA | — | 2024-09-21 |
| [BSBGBGSFST2](https://elucidate.co/directory/borica-ad-bsbgbgsf-st2) | — | Sofia | TZAR BORIS III BLVD. 41 SOFIA 1612 SOFIA BULGARIA | — | 2023-05-20 |
| [BSBGBGSFTPS](https://elucidate.co/directory/borica-ad-bsbgbgsf-tps) | — | Sofia | TZAR BORIS III BLVD. 41 SOFIA 1612 SOFIA BULGARIA | — | 2023-05-20 |
[See every BIC in Bulgaria →](https://elucidate.co/directory/country/bg#bics)
## Related institutions
### Same name, different BIC
- [Borica Ad BIC BSBGBGS2 Financial institution Not on a tracked register Bulgaria · Not on a tracked register · No LEI mapped](https://elucidate.co/directory/borica-ad-bsbgbgs2)
### Other payments & e-money institutions in Bulgaria
- [Датекс Пеймънт Технолоджи ЕАД | Datecs Payment Technology EAD No BIC Payments & e-money Prudential licence Bulgaria · Licensed by Bulgarian National Bank · 204654634 (EBA-PSD2) · No LEI mapped](https://elucidate.co/directory/datecs-payment-technology-ead-cd57745e50a1)
- [Изи Пеймънт Сървисиз ООД | Easy Payment Services OOD No BIC Payments & e-money Prudential licence Bulgaria · Licensed by Bulgarian National Bank · 204112059 (EBA-PSD2) · LEI 9845002E8E5E888DEO35](https://elucidate.co/directory/easy-payment-services-ood-e92f76dcf669)
- [Изипей АД | EasyPay AD No BIC Payments & e-money Prudential licence Bulgaria · Licensed by Bulgarian National Bank · 131344648 (EBA-PSD2) · LEI 984500AFDAJDB6D65A80](https://elucidate.co/directory/easypay-ad-d655f953d5cb)
- [Econt Financial Services LTD BIC ECFEBG22 Payments & e-money Prudential licence Bulgaria · Licensed by Bulgarian National Bank · 205968825 (EBA-PSD2) · LEI 984500CD4663A969J318](https://elucidate.co/directory/econt-financial-services-ltd-ecfebg22)
- [Icard Ad BIC INTFBGSF Payments & e-money Prudential licence Bulgaria · Licensed by Bulgarian National Bank · 175325806 (EBA-PSD2) · LEI 529900T17H7IA9SJUK38](https://elucidate.co/directory/icard-ad-intfbgsf)
- [Айрис Солюшънс АД | Iris Solutions AD No BIC Payments & e-money Prudential licence Bulgaria · Licensed by Bulgarian National Bank · 208455895 (EBA-PSD2) · LEI 98450097DE0601E7DQ96](https://elucidate.co/directory/iris-solutions-ad-cd281a0368ef)
- [ЮтеПей България ЕООД | IutePay Bulgaria EOOD No BIC Payments & e-money Prudential licence Bulgaria · Licensed by Bulgarian National Bank · 204903721 (EBA-PSD2) · No LEI mapped](https://elucidate.co/directory/iutepay-bulgaria-eood-71ba02009e84)
- [Монесо ЕООД | Monesso EOOD No BIC Payments & e-money Prudential licence Bulgaria · Licensed by Bulgarian National Bank · 208392473 (EBA-PSD2) · No LEI mapped](https://elucidate.co/directory/monesso-eood-4e24d5f276e2)
[See all →](https://elucidate.co/directory/search?type=payments&cc=BG)
Claim this profile
## Work at Borica Ad?
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
[Read the methodology →](https://elucidate.co/directory/methodology)
Credits for this page
- **Payment schemes and systems**—Source: European Payments Council (EPC) Registers of Participants; matched to BICs by Elucidate.
- **EBA PSD2 Register**—European Banking Authority (EBA) · [register ↗](https://euclid.eba.europa.eu/register/pir/search) as at 25 September 2026
- **Overview, authorisation, partners, products, leadership and events**—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
- **Images**—logos and photos from Wikimedia Commons (credited with their author and licence) or from the institution's own website, where Wikimedia has none. Elucidate keeps a copy of each; the links lead to the source and the original image. Logo: [borica.bg](https://www.borica.bg/) (official website) · [original](https://www.borica.bg/bobs_webroot/images/icons/borica-logo-sm.svg); Miroslav Vichev: [borica.bg](https://www.borica.bg/en/about/upravlenski-ekip) (official website) · [original](https://www.borica.bg/attachments/BobsPage/25/management/2F2A1996-Enhanced-NR-web-thumb-main_thumb-main.png); Radoslav Milenkov: [borica.bg](https://www.borica.bg/en/about/savet-na-direktorite) (official website) · [original](https://www.borica.bg/attachments/BobsPage/80/directors/deputy-governor-milenkov-bg-2_thumb-main.jpg); Vera Stankova: [borica.bg](https://www.borica.bg/en/about/upravlenski-ekip) (official website) · [original](https://www.borica.bg/attachments/BobsPage/79/management/2F2A2408-Enhanced-NR-web_thumb-main.jpg); Valeri Ivanov: [borica.bg](https://www.borica.bg/en/about/upravlenski-ekip) (official website) · [original](https://www.borica.bg/attachments/BobsPage/31/management/2F2A2112-Enhanced-NR-web_thumb-main.jpg); Anna Angelova: [borica.bg](https://www.borica.bg/en/about/upravlenski-ekip) (official website) · [original](https://www.borica.bg/attachments/BobsPage/45/management/2F2A2060-Enhanced-NR-web_thumb-main.jpg).
## Assess the financial crime risk behind a BIC
A BIC identifies an institution; it does not assess it. The [Elucidate FinCrime Index (EFI)](https://elucidate.co/ratings) is an independent score of the financial crime risk of banks, built for correspondent banking and counterparty due diligence.
[Book a demo](https://elucidate.co/demo-request)
Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.