Finance Ministry Meets with EPIC to Discuss KTB Recovery

Business » FINANCE | September 17, 2014, Wednesday // 17:19
Bulgaria: Finance Ministry Meets with EPIC to Discuss KTB Recovery KTB building in Sofia. Photo by Hristina Dimitrova

Interim Finance Minister Rumen Porozhanov has announced his institution is to meet representatives of Vienna-based fund EPIC in the coming days.

After a cabinet session Porozhanov explained his ministry sought to get familiar with prospective intentions to rescue troubled Corporate Commercial Bank (Corpbank or KTB).

EPIC Financial Consulting, acting for the bank's main shareholders, said in a statement last week it could carry out "a full due diligence process" at the bank, a condition on which KTB's shareholders are ready to draft a recapitalization plan.

A meeting of EPIC with officials of central bank BNB could take place this week.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Corpbank, KTB, Rumen Porozhanov, full due diligence process, EPIC, Corporate Commercial Bank, BNB

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria