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.
- » Finance Ministry Meets with EPIC to Discuss KTB Recovery
- » BNB Welcomes KTB Shareholders' Efforts to Work on Recovery Plan
- » Finance Ministry Reopens 10.5-Year Issue of BGN-Denominated Govt Securities at 3.12% Yield
- » KTB Shareholders Seek Sofia Meeting to Prepare Rescue Plan
- » KTB Can Be Rescued Without Special Law or Public Funds, Experts Agree
- » Corpbank Rescue Options to Be Discussed at BIA