Girdap Bank

The first private bank in Bulgaria was established in 1881 in Ruse as a Stock Savings Company named “Girdap”. The word is of Turkish-Persian origin and means “swampy, difficult to access place”. It was what the present central square of the city looked like at that time. 

During its existence, Girdap was one of the two major Bulgarian banks, along with the Bulgarian Commercial Bank, founded mainly with local private funds. The Managing Board of the bank included some of the richest traders and entrepreneurs in Ruse. Girdap Bank was closely linked to the Bulgarian Liberal Party. The bank's activity increased during the country's economic rise in the first decade of the 20th century. After the end of World War I the bank lost its political protections and in 1924 the court declared Girdap Bank bankruptcy.

In 1897 the bank acquired its own building. The project was designed by engineer Samuil Danailov. The building was illustrated on postcards as an important architectural cultural heritage of Ruse. In 1913 a fire destroyed the attic and after the renovation, another floor was added to the building. The corner facade is topped by a clock tower. "Under the clock" is a favorite place for meetings in Ruse.