BBLF Members Among SEE’s Top Companies

A number of BBLF member companies are ranked among the top companies in South East Europe according to the annual ranking of SeeNews, a world provider of business news and market research. Their sixth edition, TOP 100 SEE 2013, was announced at the Balkan Summit held by The Economist magazine on 18 October 2013 in Sofia.

SeeNews TOP 100 SEE (www.top100.seenews.com) ranks companies registered in Albania, Bosnia and Herzegovina, Bulgaria, Macedonia, Moldova, Romania, Slovenia, Serbia, Croatia and Montenegro. The research comprises three major rankings: TOP 100 Companies, TOP 100 Banks and TOP 100 Insurers as well as additional rankings, interviews and features on major trends in SEE.

Four BBLF member make it to the TOP 100 Companies: Aurubis  which ranks at the prominent 8^th position, OMV, Mobiltel, CEZ and Globul. A total of 12 local companies are on the top list. Seven members of BBLF from the banking sector rank among the TOP 100 Banks: United Bulgarian Bank, Reifeisenbank, Post Bank, Piraeus Bank, CIBank, ING HV – Sofia branch and Bulgarian-American Credit Bank. Bulgarian banks in the SEE TOP 100 Banks total 21, the largest number among all SEE countries. Insurer Unicredit, also a member of BBLF, is among the best 100 in the sector.

“This edition of SeeNews focused on Sustainable Development and Industries sectors. For the first time ever we made a ranking of the biggest pharmaceutical companies, and we introduced a chapter on the industry”, SeeNews editor-in-chief Ms Mira Karadzhova says.

The slowdown in economic activity and rising unemployment rates put a mark on the year 2012 all around SEE. The recession in the eurozone had unfavourable influence upon SEE countries’ foreign direct investment and external demand.

All countries in the region reported slower GDP growth rates in 2012 compared to 2011. The main deterrent to the economic activity was the crisis in the euro zone, the major trade partner of SEE countries, which led to last year’s slump in exports. Low household consumption was another important cause for the sluggish performance of the SEE economies. Harsh winter, spring floods, summer drought and forest fires in the region devastated crops and affected trade, infrastructure and economic activity in the region. And yet some of the SEE economies managed to achieve growth, albeit modest, and keep inflation in check. Given the difficulties faced by the euro zone and the disastrous macroeconomic conditions in Greece and Italy, the stable picture in SEE suggests that smaller boats could survive more easily in rough waters.