Bulgarian National Bank

The Sofia City Court has declared the state of bankruptcy of Bulgaria's Corporate Commercial Bank (KTB) and announced the initial date of its insolvency was November 6, 2014.

The report on the activities of the State Agency for National Security (DANS) in 2013 containing information on the financial stability of Bulgaria has not been presented in the Council of Ministers to the National Asembly.

The announcement was made to the Chair of the Temporary Commission on Corporate Commercial Bank, Desislava Atanasova.

Bulgaria's central bank recommended Greek-owned banks to clean their portfolios of securities and deposits which "could incur losses" if Greece leaves the euro, media reports suggest.

The Bulgarian National Bank (BNB) "kindly advised" in March those financial entities, Capital daily quotes a source from a lending institution whose shareholders include Greek citizens.

Foreign direct investment in Bulgaria amounted to EUR 128.2 million (0.3% of GDP) in January - February 2015, down by EUR 9.5 million (6.9%) from January - February 2014 (EUR 137.7 million, 0.3% of GDP), according to preliminary data of the Bulgarian National Bank (BNB).

Bulgarian prosecutors have accused a central bank official of deliberately failing to exercise proper supervision over the lending operations of collapsed Corporate Commercial Bank.

Bulgarian prosecutors on Wednesday brought criminal charges against three officials who had conducted audits of Corporate Commercial Bank from January 2009 until the bank's collapse in June 2014.  

Bulgarian prosecutors have brought criminal charges against a former senior BNB official for suspected failure to exercise proper control over operations of Corporate Commercial Bank (KTB).

Rumen Simeonov, who served as deputy governor of Bulgarian National Bank (BNB) in charge of the banking supervision department from 2007 to 2013, was charged with abuse of office.

Bulgarian businessman Tsvetan Vasilev has argued that an attack was carried out on his bank by an insider, but the scenario
for bringing it to a failure was prepared "outside."

The revenues in Bulgaria's banking system have registered an impressive increase of 31.6% for the first two months of 2015 as compared to the same period of 2014.

Thus the total revenues have reached BGN 196 M, as reported by the monitoring data provided by the Bulgarian National Bank, Kapital daily reported.

In February 2015 the profit of the banking system was BGN 196 million, up by BGN 47 million on the year, according to the Bulgarian National Bank (BNB).

In the February 2015 the banking system's liquidity position continued to build up and the balance sheet capital and deposit base grew.