Russian VTB Bank 'Not Planning to Save' Bulgarian KTB
Russia's VTB bank does not intend to take part in the capital injection planned at the Corporate Commercial Bank (KTB), according to bank sources.
RIA Novosti agency, citing anonymous VTB officials, said Russia's second-largest bank owns a EUR 10 B stake in KTB and does not seek to increase it.
Press service representatives at VTB Capital (the subsidiary of VTB which purchased assets in KTB last year) refused to comment on the information.
Novosti's reports come days after the Bulgarian National Bank (BNB) decided to place KTB under special supervision over exhaustion of liquidity.
Minutes after the central bank's move it was announced that VTB, which is one of the of the three biggest banks in East Europe, had shown interest in helping KTB by boosting its presence there.
On Sunday, BNB announced a similar measure for KTB's subsidiary Credit Agricole Bulgaria.
- » Government to Discuss New Bank Law
- » USD 25 B in Illicit Flows Syphoned Off from Bulgaria in 10 Years
- » Drop in Fuel Prices Results in Deflation in Bulgaria
- » FinMin Repays Municipalities' Funds Blocked in Corpbank
- » Bulgaria Records Drop of Direct Investments in 2014
- » Mayor of Pernik Declares Municipality Is Bankrupt