The Belgian financial group KBC, which is the majority owner of Bulgarian financial group DZI, plans to acquire new companies in Bulgaria. It will invest two billion euro in acquisitions, the company’s executive Andre Bergen said. KBC bought 70 per cent of DZI at the beginning of 2007.

Bergen commented on the current credit crisis, saying that company research had shown that the bank would lose no more than 10 million euro in the worst case scenario.

The group has made several other deals in Russia and plans to open 150 new branches in the country in the next three years.