BNB

Bulgaria's central bank BNB has adopted the guidelines approved by the European Banking Authority for private moratoria on payments in light of the Covid-19 crisis, BNR reported.

The banking system's profit for the first six months of the year reached EUR 470 million, up 14.6% compared to June 30, 2018, BNR reported.

The Return on Assets (ROA) indicator was 1.69% and the Return on Equity (ROE) was 12.98%. This is seen in the quarterly magazine of BNB "Banks in Bulgaria", published on the central bank's website.

The court sitting on the case for siphoning off of more than BGN 2 and a half billion from the Corporate Commercial Bank on 28th of February continues for second day In the Specialised Court. The former banker and majority shareholder of the bank, Tzvetan Vassilev, and other 17 people are defendants in the process, charged as an organised criminal group.

Foreign direct investment (FDI) into Bulgaria dropped by 46.1% year-on-year in the first ten months of 2016, the country's central bank BNB has said, citing preliminary data.

Over that period, FDI decreased by EUR 806.2 M to EUR 942 M. Last year, the respective value was EUR 1.7483 B.

The Supreme Court of Serbia is to interrogate Tsvetan Vasilev, the majority shareholder at insolvent Corporate Commercial Bank (Corpbank or KTB), in relation to an extradition request from Bulgaria.

Vasilev left Bulgaria in the summer of 2014, in the days around the collapse of KTB which was placed under special supervision by central bank BNB following a bank run on June 20, 2014.

There is no legal mechanism allowing the Supreme Judicial Council (VSS) to step down, in line with demands of the main ruling parties, Bulgarian Chief Prosecutor Sotir Tsatsarov has said.

Bulgaria's banking system is "stronger" now than it was before the crisis at collapsed Corporate Commercial Bank (Corpbank or KTB), Prof Steve Hanke has opined.

Further consolidation of the system should be expected, the Bulgarian National Radio quotes him as saying in an interview.

Legal action taken against Bulgaria by the State General Reserve Fund of Oman is based on ill-founded claims, the country's Finance Minister Vladislav Goranov said on Tuesday.

He asserted Bulgaria was "prepared to fight this battle" and had already hired a team of lawyers.

Bulgaria's central bank BNB on Monday adopted a plan for reforming its banking supervision activities which takes into account the conclusions made by the International Monetary Fund, the World Bank and the country's Audit Office.