bulgarian privately owned bulgarian bank established ruse closure large bulgarian banks relied capital private local prior balkan wars world war largest banks bulgaria wars financial group influential country history early years constituent assembly held december years ottoman rule establishment bulgaria time northeastern bulgarian city ruse major economic hub ruse prospered role major port danube rapid industrial development established ties river banking new concept people employed services money entrusted savings people knew personally founders sought liberate population money words later bank director overall lack capital country interest rates loans given nonetheless high compared interest rate money bank officially commenced operations january took neighbourhood ruse constituent assembly held capital time foundation amounted bulgarian gold end increased gold capital amounted year bank hired clerk time year company 10th anniversary disposed capital increased founded company transformed joint stock credit company capital new company statute approved extended board managers members included ruse wealthiest eminent people notably chairman autumn opened branch offices outside ruse port black_sea coast city istanbul constantinople capital ottoman_empire largest city balkans istanbul bank known french branch existed months closed political pressure office opened august establishment served political interests later tied hand founded ruse close banks competed lending municipal loans regularly political ties competition relations damaging bulgarian treasury politicians bank shareholders related awarded contracts based personal interest state bulgarian economy consolidated decade 20th century emerging industry required increasing funds local banks grew importance capital million largest private bank related bulgaria privately owned banking sector remained comparatively small bankruptcy balkan wars world war leading financial group kingdom remained close government controlled million invested capital ahead financial group wars bulgarian banks established companies invested new enterprises exception trend notable enterprises international transport company capital company shares owned owned bank managers employees world war active carrier bulgaria danube wars involved tobacco trade warehouses modern led establishment venture active commercial bank indicated capital million opposed million deposits banks related included established established established based cement factory founded board managers member chief ninety percent capital gorge controlled head figures despite active involvement assistance national industry failed significant contribution gradually participation insufficient profits world war deprived government links new government imprisoned months acquitted trial bank funds sealed closed account causing million deposits withdrawn including members management protest bills time important opposed declaration bankruptcy reversed stance years later declared bankrupt february managers arrested headquarters ruse central office ruse located historic street takes square metres finished designed architect known ruse time architecture student opposing building owned wine merchant built architect headquarters architectural ensemble highlighting entrance ruse commercial street liberty square location building attic damaged fire additional storey constructed engineer turning headquarters storey trademark clock added late 19th century building interior refurbished accommodate today houses administration ruse
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