Bulgaria's Banking Sector is Safe – Banker
There is no risk of the domino effect in the banking system because of the Corporate Commercial Bank (KTB), said the chairman of the Bulgarian Bank Association Levon Hampartzumian.
Hampartzumian, who is also the CEO of UniCredit Bulbank told journalists, quoted by the BTA wire service, that there were no other Bulgarian banks at risk of similar problems.
“Everything is under control,” Hampartzumian said. “We don't have to worry when the situation is handled by the professionals at the Bulgarian National Bank (BNB).”
Last week BNB placed KTB under special supervision over exhaustion of liquidity.
- » Bulgarian GDP in Last Quarter of 2015 Increased by 3.1 % Y/Y
- » Over Half of Bulgarians Aged 18+ Rely on Financial Help from Parents - Survey
- » Bulgarian Consumer Confidence Increases - NSI
- » Bulgaria Warns of 18 Unlicensed Investment Intermediaries
- » Bulgaria Reports Prelim BGN 952 M Budget Surplus for January
- » Bulgarian Government Plans to Grant Pensioners BGN 50 M in Easter Bonuses