The head of Greece’s central bank Yannis Stournaras has arrived in Sofia at the invitation of his Bulgarian counterpart Dimitar Radev.

"The importance attributed by the Greek banks to the Bulgarian market is evident, as the share of Greek banks’ assets in Bulgaria in total assets of Greek banking groups has declined only marginally in a period where Greek banks have reduced their activities in emerging Europe," Bank of Greece Governor Stournaras said in a statement released by the Bulgarian National Bank (BNB).

Greek-owned banks hold about one-fifth of the Bulgarian banking system’s assets.

BNB Governor Dimitar Radev said in the same statement: "I am pleased to welcome Governor Stournaras in Bulgaria to discuss a number of issues of common interest, including the traditional good cooperation and interaction between the central banks of our two countries within the framework of the European System of Central Banks."

The visit of the head of Bank of Greece will also include a discussion with the BNB management and staff on issues related to the state of the Greek economy and banking system.