Bulgarian National Bank

Bulgaria's Households Saved BGN 138 M in May

Bulgaria's households increased their bank savings by BGN 138 in May, shows data of the Bulgarian National Bank (BNB). 

This is about three times less than the money saved in April, which had reached BGN 371 M. 

Since January 2014 the households' savings grew by a total of BGN 1.356 B and as of the end of May the total reached BGN 39.062 B. 

Bulgaria's Banking Sector is Safe – Banker

There is no risk of the domino effect in the banking system because of the Corporate Commercial Bank (KTB), said the chairman of the Bulgarian Bank Association Levon Hampartzumian. 

Hampartzumian, who is also the CEO of UniCredit Bulbank told journalists, quoted by the BTA wire service, that there were no other Bulgarian banks at risk of similar problems. 

Ex Deputy FinMin to Become Executive Director of Municipal Bank PLC

Vladislav Goranov, former MP from center-right party GERB (Citizens for European Development of Bulgaria), is to become Executive Director of Municipal Bank PLC.

The nomination of Goranov, Deputy Finance Minister during the term in office of the GERB government, is to be approved by the Bulgarian National Bank (BNB).

Bulgarian National Bank Places KTB Subsidiary under Conservatorship

The Bulgarian National Bank (BNB) has placed under conservatorship Credit Agricole Bulgaria, a subsidiary of the Corporate Commercial Bank (KTB), for 3 months.

BNB has appointed two supervisors, Stanislav Georgiev Lyutov and Elena Zdravkova Kostadinchev, and the members of the supervisory board and management board have been removed, according to a media statement.

KTB Operations Halted, but Bank Not Failed - BNB

The Corporate Commercial Bank (KTB) did not fail, because the central bank intervened quickly and decisively, BNB Governor Ivan Iskrov explained.

Bulgarian National Bank (BNB)'s Governing Council held a press conference just an hour after the central bank announced it had placed KTB under special supervision upon the commercial bank's request.