Russian VTB Bank 'Not Planning to Save' Bulgarian KTB
Russia's VTB bank does not intend to take part in the capital injection planned at the Corporate Commercial Bank (KTB), according to bank sources.
RIA Novosti agency, citing anonymous VTB officials, said Russia's second-largest bank owns a EUR 10 B stake in KTB and does not seek to increase it.
Press service representatives at VTB Capital (the subsidiary of VTB which purchased assets in KTB last year) refused to comment on the information.
Novosti's reports come days after the Bulgarian National Bank (BNB) decided to place KTB under special supervision over exhaustion of liquidity.
Minutes after the central bank's move it was announced that VTB, which is one of the of the three biggest banks in East Europe, had shown interest in helping KTB by boosting its presence there.
On Sunday, BNB announced a similar measure for KTB's subsidiary Credit Agricole Bulgaria.
- » Bulgaria Is among the Countries Which Attracted Most Funds under the Juncker Investment Plan
- » Oil Prices Rise with 10%
- » Greece is Preparing to Cut Income Taxes
- » In the Period January - June 2019 Bulgarian Exports to the EU Grew by 5.1%
- » In 2018 the Goods Exported From Bulgaria amounted to BGN 56 030.4 Million
- » The Amount of the Fiscal Reserve as of June 30 is BGN 11.7 billion