Economy of Europe
Speculation mounts ahead of stress test result issue
A group of 25 banks have failed European health checks, while up to 10 of those continue to have a capital shortfall, two people familiar with the matter said on Friday, providing a snapshot of the health of the regions lenders.
Bulgaria's Central Bank Holds Meeting on KTB Recovery
Bulgarian National Bank (BNB) met on Friday representatives of Vienna-based fund EPIC, Oman's state fund and London-based Gemcorp, the central bank said in a statement.
Bulgaria's Ombudsman Predicts 'Avalanche Of Lawsuits' Regarding KTB
Bulgaria's courts will be flooded by "an avalanche of lawsuits" with connection to the Corporate Commercial Bank (KTB), Bulgaria's Ombudsman Konstantin Penchev told the BNR public broadcaster.
KTB Directors: BNB Report Is 'A Lampoon'
After keeping the Corporate Commercial Bank (KTB) in a coma for four months, yesterday Bulgaria's Central Bank (BNB) presented to the public an irresponsible lampoon, not a professional audit analysis, said the suspended KTB executive directors in an open letter to the media.
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Deposits In Bulgaria's Banks Up BGN 531 M In September
The deposits in Bulgaria's banks grew by BGN 531 M in September, shows data of the Bulgarian National Bank.
This is the second consecutive month with growth, after the summer bank troubles when depositors were withdrawing large sums.
At the same time the lending activities remain relatively weak - in September the banks gave BGN 342 M in credits.
Turkish Central Bank to pay interest on lira reserves to support growth
Turkey’s Central Bank has said it will begin paying interest on financial institutions’ lira required reserves from November in a bid to support growth and domestic savings
EU Bank Watchdog Urges Bulgaria to Ensure Instant Access to KTB Deposits
European Banking Authority said Monday Bulgaria should allow immediate access of depositors at Corporate Commercial Bank (Corpbank, KTB) to their savings.
Conservators at Bulgaria’s Corpbank Submit Audit Report
The conservators at Corporate Commercial Bank (Corpbank, KTB) have submitted to the Bulgarian National Bank (BNB) the audit report of the financial institution.
KTB was placed under conservatorship by the Bulgarian National Bank on June 20 due to a bank run.
Tsvetan Vasilev: BNB Not Willing to Discuss Options to Restructure Corpbank
Bulgaria's central bank is resorting to "absurd" excuses to avoid carrying out its legal duties about Corporate Commercial Bank (Corpbank or KTB), its owner has said.
In a statement on his website, Tsvetan Vasilev also points out the bank is actually serving the interest of a coalition called "PPP", but stops short of revealing what stands for the abbreviation.
Depositors Storm KTB Headquarters, Blockade Streets
Customers of troubled Corporate Commercial Bank (Corpbank or KTB) tried to enter the bank's main building at Sofia's Garibaldi Square on Tuesday.
Their demand was to meet the bank's Supervisory Board, the experts appointed by the Bulgarian National Bank (BNB) after the latter placed KTB under conservatorship in June.