The Bulgarian National Bank (BNB) granted approval to Bulgarian-American Credit Bank (BACB) to acquire majority stake in Tokuda Bank. Recall that BACB and Tokushukai Incorporated as a seller have signed an agreement for the acquisition of 99.94% of Tokuda Bank back in April 2024, after which the Commission on Protection of Competition (CPC) granted approval in July 2024. The price of the deal has not been announced yet. Note that Tokuda Bank is the smallest bank in Bulgaria and the third smallest if include the branches of foreign banks. As of end-Sept, it had BGN 502.9m of assets and BGN 65.4m of equity. BACB is the 13th largest bank by assets as of end-Sept with BGN 2.8bn of assets and BGN 388.7m of equity and if the deal is completed could move to number 12.