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Business | November 30, 2001, Friday // 00:00
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Bulgarian National Bank (BNB) foreign exchange reserves in November 2001 marked an increase. The rise was triggered by the EUR 246 M Bulgaria received from the first Eurobond issue. In addition to that banks sold euros to the central bank in an effort to boost lev liquidity before the end of the month, a BNB official said, quoted by Dnevnik Daily. On November 23 foreign exchange reserves stood at EUR 3,98 BLN or BGN 7,78 BLN, up BGN 601 M in comparison with the previous week. According to BNB figures in 2000 reserves equaled BGN 7,31 BLN. A total of 300 bank employees will be laid off in 2002, BNB director Svetoslav Gavriiski said. BNB branches in Burgas, Russe and Vratsa will be closed down. The profit for 2002 is projected at BGN 84.135 M. 2001 profit is expected to reach BGN 183.609 M. According to Gavriiski the slump in international economy will reflect on the bank profit.
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