CENTRAL BANK HEAD: BIOCHIM PRICE TOO LOW

Views on BG | January 25, 2002, Friday // 00:00

The minimum price of BGN 95 M, set by the Cabinet for the sale of Biochim bank, is too low, Svetoslav Gavriiski, Central bank head, said at a conference, quoted by Reuters. He expressed the hope that good bids may exceed that price. According to him the reports of the bank’s problems has nothing to do with the real state of the bank, which is Bulgaria’s third-largest bank by assets and capacities. Svetoslav Gavriiski is member of the Board of Directors in the Bank Consolidation Company (BCC), which is the government body in charge of bank sell-offs. Last week BCC set the minimum price for the sale of the 99% state-owned stake in Biochim bank.

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