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Parliament's Budget Committee Hears Central Bank Governor over KTB

Business » FINANCE | July 11, 2014, Friday // 14:53| Views: 1385 | Comments: 0
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Bulgaria: Parliament's Budget Committee Hears Central Bank Governor over KTB Budget Committee Chairman Yordan Tsonev (L) with Bulgarian National Bank Governor Yordan Tsonev at the emergency meeting of the committee. Photo by BGNES

Ivan Iskrov, Governor of the Bulgarian National Bank (BNB) has attended an extraordinary session at the Budget and Finance Committee at Bulgaria's Parliament.

The meeting called by committee Chairman Yordan Tsonev, a Movement for Rights and Freedoms (MP) is dedicated to the results of an independent audit carried out at the Corporate Commercial Bank (KTB), Bulgaria's fourth-largest bank.

Earlier on Friday, BNB announced it would scrap the license of KTB and nationalize its subsidiary Credit Agricole Bulgaria as a consequence of the inspection's outcome, which showed the former bank was involved in activities contravening good legal and banking practices.

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Tags: Corporate Commercial Bank, KTB, Yordan Tsonev, DPS, Ivan Iskrov, BNB, Credit Agricole Bulgaria
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