Will Bulgaria Have a Stable Government After Yet Another Election in June? Our Readers Have Spoken
On our Facebook page, readers were asked about Bulgaria's stability after the June elections
Novinite Insider | April 19, 2024, Friday // 17:30
Bulgaria's C-Bank Hails Sale of Credit Agricole Unit
- Tweet
Send to Kindle
Bulgarian bank Corporate Commercial Bank has acquired Credit Agricole Bulgarian division. Photo by capital.bg
Bulgaria's central bank announced on Wednesday it has been informed of Credit Agricole local unit sale to Bulgarian bank Corporate Commercial Bank and approves of the deal.
“Bulgaria's central bank has always supported the processes of consolidation in the banking sector, as this strengthens the stability of the banking system,” the Bulgarian National Bank said in a statement, circulated to the media.
“In this case, one of the leading Bulgarian credit institutions acquires another on a very competitive market, which is a testament to the continuing processes of consolidation of the banking capital in the Bulgarian banking sector,” it added.
Credit Agricole said on Wednesday it agreed to sell its Bulgaria division to Bulgarian bank Corporate Commercial Bank.
The French bank said the sale would lead to a EUR 160 M reduction in its risk-weighted assets while lowering its solvency ratios by less than 1 basis point.
The transaction still requires approval from regulators and consultation with staff representatives, Credit Agricole added.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Related Articles:
Bulgaria Takes Action Against Whooping Cough Outbreak: Minister Kondeva Announces Measures
In response to the recent deaths of two newborns due to whooping cough, the Ministry of Health in Bulgaria has implemented measures to curb the spread of the disease
Bulgaria's Domestic Violence Statistics: 80% Male Perpetrators, 20% Female
In Bulgaria, a stark reality persists regarding domestic violence, as highlighted by Assoc. Dr. Aleksey Pamporov from the Institute of Philosophy and Sociology at the Bulgarian Academy of Sciences
Crime | April 19, 2024, Friday // 16:02
Taxi Drivers in Bulgaria Demand Significant Fare Increase
Amidst growing discontent among taxi operators across Bulgaria, drivers in major cities like Burgas, Varna, and now Plovdiv are demanding a substantial hike in fares to cope with rising operational costs
Society | April 19, 2024, Friday // 15:30
10-15% Higher Prices: Bulgarians and Foreigners Brace for Increased Travel Costs as Holiday Season Approaches
As the May holidays mark the onset of sea tourism, Bulgarians and foreigners preparing for their annual getaways are facing a stark reality: trips this year will come with a heftier price tag
Tragic Loss: Two Infants Succumb to Whooping Cough in Bulgaria
Two infants from Kyustendil have tragically lost their lives after contracting whooping cough
Sofia Exceeds Average Income Levels in Europe
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Bulgaria's Eurozone Entry Postponed: Central Bank Governor and Ex-Economy Minister Sound Alarm
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
Bulgarian Household Incomes Offset by Inflation in 2023
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
Report Shows Bulgarians Have Doubled Their Wealth in a Decade
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
Ex-Economy Minister: Bulgaria Unlikely to Enter Eurozone in Early 2025
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
Bulgarian National Bank Chief Targets 2025 Eurozone Access
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
