Bulgaria's Govt to End State Aid Contract with Fibank
The Bulgarian government has allowed the Finance Minister to end a contract with First Investment Bank (Fibank) under which the financial company received state aid to prevent a collapse.
First Investment Bank, which suffered from the panic on Bulgaria's banking system last week, is trying to lure back its old customers with promises of interest rates.
FIBank promises its customers who withdrew their savings in the end of last week and earlier this week, to pay off the interests, which they lost. The only condition is that the depositors bring back their money by end of July.
“The bank does not want to gain from the fears of people, because they were abused and this is why it will restore the lost interests on the withdrawn deposits,” said the bank in a press statement.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
According to the latest data released by the National Statistical Institute, Bulgarian household incomes experienced a remarkable surge in 2023, reaching an average of BGN 10,846 per household member.
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
In a recent interview on Nova TV, former Minister of Economy Bogdan Bogdanov expressed skepticism regarding Bulgaria's prospects of entering the Eurozone at the outset of 2025
The path to Eurozone accession for Bulgaria may see a significant milestone in 2025, albeit not at the outset of the year, according to Dimitar Radev, the governor of the Bulgarian National Bank (BNB)
Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards
In a recent interview with BTA, Kristalina Georgieva, Managing Director of the IMF, emphasized the importance for Bulgaria to seize the opportunity to adopt the euro, stressing that it is achievable with the right political will
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022