Finance Ministry Meets with EPIC to Discuss KTB Recovery

KTB building in Sofia. Photo by Hristina Dimitrova

Interim Finance Minister Rumen Porozhanov has announced his institution is to meet representatives of Vienna-based fund EPIC in the coming days.

After a cabinet session Porozhanov explained his ministry sought to get familiar with prospective intentions to rescue troubled Corporate Commercial Bank (Corpbank or KTB).

EPIC Financial Consulting said in a statement last week it could carry out "a full due diligence process" at the bank, a condition on which KTB's main shareholders are ready to draft a recapitalization plan.

A meeting of EPIC with officials of central bank BNB could take place this week.

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