Bulgarian National Bank

A protest rally in front of the central bank building in Sofia on Friday demanded the reopening of Corporate Commercial Bank (KTB or Corpbank), state radio BNR reported.

Caretaker Finance Minister Rumen Porozhanov has said that depositors may get partial access to their funds at Bulgaria's troubled Corporate Commercial Bank (KTB, Corpbank) in September.

The Expert Consultative Council on KTB, a Bulgarian business representatives' group, has proposed a list of measures to rescue the troubled lender without burden to taxpayers.

The Sofia City Court has placed an injunction on the property of Tsvetan Vasilev, majority owner of Bulgaria's troubled Corporate Commercial Bank (KTB).

GERB has called for drastic reforms and replacement of the central bank’s governing council should the party win majority in the upcoming snap vote.

One third of the money, withdrawn from Bulgarian banks in June was deposited back in the banks, shows data of the Bulgarian National Bank (BNB).

During the bank panic in June, depositors withdrew BGN 1.043 B, which was somewhat of an anomaly, considering that in the past few years, the households saved in banks between BGN 3 B and 5 B per year.

Corpbank’s majority owner on Monday said he was working hard to restructure the lender jointly with the State General Reserve Fund of Oman and other interested investors.

Bulgaria's National Ombudsman Konstantin Penchev has accused the Bulgarian National Bank (BNB) of inaction in the case of troubled Commercial Corporate Bank (KTB).

KTB and its subsidiary Victoria Commercial Bank have been under special supervision by BNB since June 20, 2014 and June 22, 2014, respectively, due to a massive withdrawal of deposits.

Bulgaria’s central bank said on Friday it has invited the two biggest shareholders in Corporate Commercial Bank to propose rescue options for the troubled lender by end-August.

Letters have been sent to Corpbank’s majority owner Bromak EOOD and the State General Reserve Fund (SGRF) of Oman, the Bulgarian National Bank said in a statement.

Bulgaria’s central bank said on Friday it has invited the two biggest shareholders in Corporate Commercial Bank to propose rescue options for the troubled lender by end-August.