Bulgarian National Bank

Type: Company
Name: Bulgarian National Bank
First reported 4 hours ago - Updated 4 hours ago - 1 reports

Bulgaria central bank hastily prints 200, and not 60 million banknotes

cture: Focus Information Agency Sofia. The 168 Chasa weekly learnt that the Bulgarian National Bank (BNB) ordered French Oberthur Fiduciaire to print 200 million, and not 60 million banknotes, as it was announced officially, for at least another BGN ... [Published Focus Bulgaria - 4 hours ago]
First reported 4 hours ago - Updated 4 hours ago - 1 reports

Bulgarian business and citizens have deposited nearly BGN 54 billion in banks

cture: AFP Sofia. Bulgarian companies and households are slowly returning their savings to banks following the June panic, according to the July statistics of the Bulgarian National Bank (BNB), Stroitel weekly writes.Bulgarian households’ savings grew ... [Published Focus Bulgaria - 4 hours ago]
First reported Aug 28 2014 - Updated Aug 28 2014 - 1 reports

Drop in interest rates on housing loans in Bulgaria

cture: AFP Sofia. Interest rates on newly granted housing loans, denominated in BGN, decreased by 0.42% to 6.46% in July, compared to a year earlier, Reporter daily writes.Interest rates on newly granted housing loans, denominated in EUR, fell by 0.61% ... [Published Focus Bulgaria - Aug 28 2014]
First reported Aug 28 2014 - Updated Aug 28 2014 - 1 reports

EC delegation arrives in Bulgaria to discuss various issues

cture: AFP Sofia. A delegation from the European Commission (EC) has arrived on a three-day visit to Sofia, 24 Chasa daily reports.The EC experts, invited by interim financial minister Rumen Porozhanov, have asked their meetings to remain confidential. ... [Published Focus Bulgaria - Aug 28 2014]
First reported Aug 26 2014 - Updated Aug 26 2014 - 1 reports

Savings slowly return to banks

Citizens and companies in Bulgaria have started to gradually recover their savings in banks after concerns about liquidity in June, statistics of the Bulgarian National Bank showed. In July, the bank accounts of households rose by 61 million euro. This ... [Published BNR - Aug 26 2014]
First reported Aug 26 2014 - Updated Aug 26 2014 - 1 reports

Bulgaria impounds assets of eight CCB officials

Bulgaria’s prosecutor’s office said on August 26 that the Sofia City Court impounded the assets held by eight officials of the Corporate Commercial Bank (CCB), including majority shareholder Tsvetan Vassilev.The court order was issued on August 22 at ... [Published The Sofia Globe - Aug 26 2014]
First reported Aug 25 2014 - Updated Aug 25 2014 - 1 reports

Bulgaria's Ombudsman Accuses Central Bank of Inaction over Corpbank

Bulgaria's National Ombudsman Konstantin Penchev, photo by BGNESBulgaria'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 ... [Published Sofia News Agency - Aug 25 2014]
First reported Aug 25 2014 - Updated Aug 25 2014 - 1 reports

Bulgaria’s economy stalls again

Picture: AFP Sofia. Economic development in Bulgaria may pause in the second half of 2014, unless exports come in stronger than expected, Bulgarian National Bank (BNB) warns in its quarterly analysis, Standart daily reads.The central bank reads that ... [Published Focus Bulgaria - Aug 25 2014]
First reported Aug 24 2014 - Updated Aug 24 2014 - 1 reports

Bulgarian National Bank prints urgently 60 million new banknotes

The increased demand of cash money (bills and coins) is a result of the concussion in the banking system in the past months, the Bulgarian National Bank explains. That is why the bank initiated an urgent order aimed at printing 60 million new banknotes ... [Published BNR - Aug 24 2014]
First reported Aug 23 2014 - Updated Aug 23 2014 - 1 reports

Half-decay of Corporate Commercial Bank indictment

urce: Focus Information Agency Sofia. On Thursday, the Sofia City Court (SCC) ordered the release of the last person detained in relation to the Corporate Commercial Bank case – former deputy chief teller at the bank Boryana Treneva. The court believes ... [Published Focus Bulgaria - Aug 23 2014]
First reported Aug 22 2014 - Updated Aug 22 2014 - 1 reports

CorpBank, Victoria Bank remain under special supervision

The Bulgarian National Bank has announced that for the time being, Corporate Commercial Bank and Victoria Commercial Bank continue experiencing a major liquidity crisis, and are unable to pay back debts to depositors and other creditors that are respectively ... [Published BNR - Aug 22 2014]
First reported Aug 22 2014 - Updated Aug 22 2014 - 2 reports

Bulgaria central bank invites recapitalisation offers from CCB shareholders

The Bulgarian National Bank (BNB) said on August 22 that it has asked the two largest shareholders in the Corporate Commercial Bank (CCB) to submit detailed letters of interest in the recapitalisation of the lender by the end of August.The letters were ... [Published The Sofia Globe - Aug 22 2014]

Quotes

"We would like for KTB to start working and to prevent a loss of the funds of all companies which have accounts there. The fate of KTB is not decided by the government. At present, the financial situation at KTB is being evaluated, after which audits will be carried out to see if the bank has been decapitalized. The bank has certainly experienced a loss of liquidity but what we recommend is a review of the proposals of investors who can rescue the bank" Porozhanov stated
Meanwhile, Interpol issued a Red Notice for the arrest of Tsvetan Vasilev , citing charges of "misappropriation in public office in particularly large size, representing a particularly serious case."
"I believe we are close to unveiling a decision in principle for the bank's rehabilitation that will fully comply with the legal requirements for capital adequacy and liquidity" Bromak owner Vassilev said in a statement posted on his personal website www.vassilev.bg
"Some operations should have been permitted. BNB is simply unwilling to accept the slightest responsibility. BNB is in a state of total passivity. It keeps doing nothing and I cannot figure out why" Penchev emphasized

More Content

All (151) | News (144) | Reports (0) | Blogs (5) | Audio/Video (0) | Fact Sheets (2) | Press Releases (0)
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Depositors at Bulgaria's Ailing Corpbank May Ge... [Published Sofia News Agency - 2 hours ago]
Bulgarian business and citizens have deposited ... [Published Focus Bulgaria - 4 hours ago]
Bulgaria central bank hastily prints 200, and n... [Published Focus Bulgaria - 4 hours ago]
Bulgaria's KTB Can Still Be Rescued, Lobby Grou... [Published Sofia News Agency - 20 hours ago]
Drop in interest rates on housing loans in Bulg... [Published Focus Bulgaria - Aug 28 2014]
EC delegation arrives in Bulgaria to discuss va... [Published Focus Bulgaria - Aug 28 2014]
Sofia Court Freezes Property of Majority Owner ... [Published Sofia News Agency - Aug 26 2014]
Savings slowly return to banks [Published BNR - Aug 26 2014]
Bulgaria impounds assets of eight CCB officials [Published The Sofia Globe - Aug 26 2014]
Pavlova Urges Top-Level Change at BNB if GERB W... [Published Sofia News Agency - Aug 26 2014]
Bulgaria Corpbank's owner says working with Oma... [Published Yahoo! Maktoob News - Aug 25 2014]
Majority Owner Says Being Close to KTB Rescue Plan [Published Sofia News Agency - Aug 25 2014]
Bulgaria's Ombudsman Accuses Central Bank of In... [Published Sofia News Agency - Aug 25 2014]
Bulgaria’s economy stalls again [Published Focus Bulgaria - Aug 25 2014]
Bulgarian National Bank prints urgently 60 mill... [Published BNR - Aug 24 2014]
Financial expert Stoyan Alexandrov: Bulgaria’s ... [Published Focus Bulgaria - Aug 24 2014]
Central Election Commission plans stringent mea... [Published BNR - Aug 23 2014]
Half-decay of Corporate Commercial Bank indictment [Published Focus Bulgaria - Aug 23 2014]
BNB Asks KTB’s Top Shareholders to Propose Resc... [Published Sofia News Agency - Aug 22 2014]
CorpBank, Victoria Bank remain under special su... [Published BNR - Aug 22 2014]
BNB Asks KTB’s Two Biggest Shareholders to Prop... [Published Sofia News Agency - Aug 22 2014]
Central Bank: Corpbank, Victoria Commercial Ban... [Published Bulgarian News Agency - Aug 22 2014]
Bulgaria central bank invites recapitalisation ... [Published The Sofia Globe - Aug 22 2014]
Bulgaria central bank to print 60 million new b... [Published The Sofia Globe - Aug 22 2014]
Bulgarian court says no evidence of missing fun... [Published The Sofia Globe - Aug 21 2014]
Bulgaria interim PM: Oresharski govt was ousted... [Published Focus Bulgaria - Aug 21 2014]
Bulgaria court hesitant about guilt of 2 defend... [Published Focus Bulgaria - Aug 21 2014]
2 defendants under Bulgaria’s CorpBank case rel... [Published Focus Bulgaria - Aug 21 2014]
Bulgaria central bank orders printing of BGN 1.... [Published Focus Bulgaria - Aug 21 2014]
I am pleased with preparation of upcoming elect... [Published BNR - Aug 20 2014]
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Blogs

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Bulgaria Is Letting Bad Banks Fail; Could the U... [Published Wall St. Cheat Sheet - Jul 16 2014]
Source: Thinkstock Last week, the Bulgarian government pulled the plug on its forth largest bank after one of the worst financial scandals in the country since the 1990s came to light. The Bulgarian central bank, after making attempts to rescue Corporate ...
Vassilev-Peevski, CCB bank run: oligarchy in Bu... [Published EU opinion & policy debates BlogActiv.eu - Jul 14 2014]
Credit dossiers for a total of 3.5 billion leva (1.78 billion euro) of Bulgaria’s Corporate Commercial Bank (CCB) have disappeared and a sum equivalent to 206 million leva (105 million euro) has been withdrawn in cash upon order by its president of the ...
A Major Bank Run In Bulgaria Could Have Stemmed... [Published Clusterstock - Jul 02 2014]
Bulgaria has been in the midst of a terrifying bank run unlike any they've seen in the past 17 years. Bank runs at Corporate Commercial Bank (Corpbank) and First Investment Bank, the fourth and third largest banks in Bulgaria, began in June after ...
Fourth Largest Bulgarian Bank Seized After Bank... [Published Zero Hedge - Jun 20 2014]
The small, impoverished country of Bulgaria may not be in the Eurozone (even though its currency is pegged to the Euro), but it is in the European Union. Which is why we find it surprising that there has been relatively little mention that overnight ...
Bulgaria’s Currency Board versus Ukraine’s Chaos [Published Cato @ Liberty - Feb 27 2014]
Steve H. Hanke When Communism inevitably and finally collapsed, Bulgaria’s economy was a basket case – behind almost all other communist basket cases, including Ukraine’s. Indeed, Bulgaria defaulted on its debt in 1990. By February 1991, Bulgaria had ...
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