Intentions declared by the Bulgarian National Bank (BNB) to nationalize Corporate Commercial Bank (KTB)'s subsidiary could be unfeasible, a financial expert argues.
Stoyan Aleksandrov told national private TV7 channel that the central bank had not provided any legal motives to take the step for a financial company that "operates normally".
Aleksandrov put into question the process through which money from what was Bulgaria's fourth-largest bank being transferred into its filial and deposits will be paid off, given that Credit Agricole Bulgaria is "a small bank with only a few offices".
He added many people holding key positions had proved to be unprepared for the situation, including BNB Governor Ivan Iskrov.
There was either "deliberate inaction" or "underestimation" of what was happening, the expert claimed.
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