First Investment Bank Shares Up on Monday
Shares of Bulgaria's First Investment Bank were up 24% as of Monday, 13:00 EEST (11:00 GMT).
Data from the Sofia Stock Exchange, cited by website Capital.bg, came despite Friday's surge of panic among many Bulgarians following rumors spread via SMS and online that the bank could fail.
The information forced scores of people to withdraw their savings.
FIBank shares are gradually restoring their levels to those before the attacks (which pushed them down 20%) and were sold on Monday for BGN 3.50 each, close to their Thursday's value of BGN 3.74.
The bank meanwhile says on its website there is a growing number of customers who have canceled requests to withdraw deposits they issued Friday. Despite concerns of liquidity problems the bank opened as usual on Monday and is to continue receiving clients during business hours.
Experts cite the EU Commission's decision to approve a liquidity support scheme for Bulgarian banks and the final decision on early elections date announced Sunday as reasons fo the stabilization.
- » FDI in Bulgaria Falls 34% Y/Y for January-May - C-Bank
- » Bulgaria, Iran to Deepen Economic Ties, Fight Against Tax, Customs Fraud
- » Inspections Along Bulgaria's Black Sea Coast Brought Extra BGN 200 M in Revenues
- » Bulgaria Posts Budget Surplus of 3.1% of GDP for End-May
- » Bulgaria Expects BGN 3.09 Budget Surplus for H1 2016
- » Pensions in Bulgaria Increase by 2.6 %