Our Team

Nikolay Spasov joined D Commerce Bank at the beginning of 2026 with a mandate to accelerate its transformation and development into a modern, efficient and technology-driven financial institution.

He has many years of management experience in the banking sector, both in Bulgaria and across the Balkans, with a focus on digital transformation, process optimisation and operations management.

He has a proven track record of delivering numerous successful digital transformation projects at both local and international level. His career includes the delivery of large-scale, complex initiatives in areas such as payment technologies, credit administration, everyday banking and risk management.

Valentina Borisova has been with D Commerce Bank since 2013 and has been a member of the Management Board since 2017. Since 2025 she has held the position of Executive Director responsible for Corporate Banking.

She is responsible for the Corporate Banking, Financial Markets and Investments, and Public Sector Clients and Financial Institutions divisions.

She has many years of experience in working with corporate customers and managing complex banking products, combining a commercial approach with disciplined risk management.

Plamen Dermendzhiev has been with D Commerce Bank since 2012 and has been a member of the Management Board since 2013, responsible for risk management and control.

Since 2025 he has held the position of Executive Director and Chief Risk Officer, responsible for the Bank’s overall risk management framework.

He combines practical experience with academic expertise as a long-standing lecturer in banking at the University of National and World Economy (UNWE). He is Chairman of the Supervisory Board of Fund for Sustainable Urban Development EAD.

Ivaylo Hadzhiev joined D Commerce Bank at the end of 2025, responsible for Information Technology and Digitalisation.

He has over 20 years of experience in the banking sector, covering retail, corporate and investment banking, as well as security.

He has led large-scale transformation programmes involving digitalisation, process modernisation and the implementation of technology solutions to protect digital channels and prevent fraud. He has significant experience of working with national and European regulators.

Zahari Alipiev has been with the Bank since 2003 and has played a key role in developing its business and its market positioning.

Since 2017 he has been a member of the Management Board responsible for Retail Banking, and he heads the Bank’s branch network.

His professional experience covers the management and development of banking products for individuals and small businesses. Under his leadership, the Bank has built a stable and efficient branch network focused on service, sales and long-term customer relationships.