Bulgaria's outlook is improving, with its elected government working hard to catch up on crucial EU legal updates, while the country continues to attract investments in banking, energy, healthcare, and technology, according to Penkov Markov & Partners Associated Partner Boris Lazarov.

According to the December 2022 Digital, Internet and Mobile Banking Statistics published by the Banks Association of Turkiye, the number of customers using active digital banking, mobile banking and internet banking services in Turkiye reached 94 million, with an increase of around 16.5 million in comparison to the previous year.

Cobalt has advised the European Bank for Reconstruction and Development on an equity investment in Sunly. 

Ellex has advised Payhawk Financial Services on obtaining an electronic money institution license from The Bank of Lithuania.

On 28 June 2023, the European Commission published the proposals for the legislative package on payment services (“Revised Payments Legislative Package”) that will replace the Directive (EU) 2015/2366 on payment services in the internal market (“PSD 2”) and Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (“EMD”) and merge the legal frameworks applicable to payments and electronic money services.

Popovici, Nitu, Stoica & Asociatii has advised Banque Banorient France Romania Branch on a EUR 22 million financing granted to an undisclosed real estate developer.