Bulgarian Development Bank Vows No Disruptions to Lending to SMEs

Business » FINANCE | June 24, 2014, Tuesday // 12:50| Views: 739 | Comments: 0
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Bulgaria: Bulgarian Development Bank Vows No Disruptions to Lending to SMEs

The Bulgarian Development Bank (BDB) has issued a statement assuring that its capacity to provide credit to small and medium-sized businesses will remain unimpaired.

BDB came up with a media statement to disprove the false allegations that its potential participation in the stabilization of Corporate Commercial Bank (KTB) will happen at the expense of its core activity, namely providing credit to small and medium-sized enterprises.

KTB and its subsidiary Credit Agricole Bulgaria were placed under conservatorship by the Bulgarian National Bank (BNB) on June 20 and June 22, respectively.

"The Management Board of BDB categorically declares that the allegations are false. The process of providing credit to small and medium-sized enterprises continues," BDB stated.

"Apart from its own capital, BDB has attracted resources from international banks and partners which are to a large extent provided through programs for assisting small and medium-sized enterprises. This means that these resources can be used solely for providing credit to this business segment of the economy," BDB informed.

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Tags: Credit Agricole Bulgaria, KTB, Corporate Commercial Bank, lending, SMEs, small and medium-sized enterprises, Bulgarian Development Bank, Bulgarian National Bank
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