Bulgaria's Fibank has Secured EUR 130 Million to Prop up Capital

Bulgaria's fourth largest lender First Investment Bank said on Friday it had already secured 130 million euros to prop up its capital after the European Central Bank found a 262.9 million euro shortfall, reports Reuters.

The ECB carried out a comprehensive assessment on six Bulgarian banks and found capital shortfalls at First Investment Bank and another small bank that it would now help supervise, a preliminary step in Sofia's efforts to join the euro zone.

Fibank said in a statement it would address the 133 million euros with its profit, by de-risking of its credit portfolio and other measures.