Bulgarian National Bank

Bulgaria’s current and capital account showed a surplus of EUR 582.4 M in June, compared with a surplus of EUR 244.8 M in June 2013, the Bulgarian National Bank said on Thursday.

The risk holders of Corpbank’s dollar-denominated bond will pursue legal action against the troubled Bulgarian lender and the state has increased, Reuters has reported.

According to unnamed bondholder sources quoted by Reuters, Corporate Commercial Bank, or KTB, failed to make the final payment on the bond that matured last Friday.

The bank Credit Agricole Bulgaria is renamed to Commercial Bank Victoria, reports Money.bg, quoting an entry in the Commercial Registry from August 8. 

Currently the bank, 100% owned by troubled Corporate Commercial Bank (KTB), is represented by the administrators, appointed by the Bulgarian National Bank (BNB) Hristina Stamova and Bozhidar Arshinkov. 

Bulgaria's Ombudsman on Thursday urged the central bank to be more flexible in managing its restrictions on KTB bank to alleviate the plight of the bank’s clients.

Bulgaria will hold early general elections in October following the dissolution of parliament “amid the worst banking crisis” since the 1990s, the BBC said on Wednesday.

President Rosen Plevneliev set the vote for October 5 and appointed a caretaker government  led by constitutional law expert Georgi Bliznashki as prime minister on Wednesday.

Bulgaria will decide the fate of troubled Corporate Commercial Bank (KTB) only after the results of an audit become known in October, the country’s President has told Reuters.

Rosen Plevneliev said that for the moment “no politician and no government can do anything but just wait to see the numbers."

Guaranteed deposits in Bulgaria’s troubled Corporate Commercial Bank (KTB) will most likely be repaid under the next elected government, a leading Bulgarian economist has said.

The European Commission has warned the Bulgarian National Bank to speed up the repayment of guaranteed deposits of natural and legal persons at the Corporate Commercial Bank (KTB).

Bulgaria's state-owned gas supplier Bulgargaz has some 98.5% of its assets stored in Corporate Commercial Bank (KTB), data from the Economy Ministry shows.

A report cited by daily 24 chasa contains a list of companies holding over BGN 3 M in a single bank.

Only entities for which the sum accounts for more than a quarter of their assets are included.

Bulgaria’s troubled Corporate Commercial Bank (KTB) will not open on September 21 as initially expected, the central bank has decided.