Bulgarian National Bank Warns Against Proposed Excess Profits Tax on Banks
The Bulgarian National Bank (BNB) has voiced strong opposition to a proposed 10% tax on banks' excess profits, citing concerns that it would destabilize the financial sector
Depositors Storm KTB Headquarters, Blockade Streets
- Tweet
Send to Kindle
Photo by BGNES
Customers of troubled Corporate Commercial Bank (Corpbank or KTB) tried to enter the bank's main building at Sofia's Garibaldi Square on Tuesday.
Their demand was to meet the bank's Supervisory Board, the experts appointed by the Bulgarian National Bank (BNB) after the latter placed KTB under conservatorship in June.
Protesters, who have held a number of rallies over the
last weeks, have vowed not to give up demonstrations until their calls are heeded.
They insist KTB should be opened to allow customers the opportunity to use their money and demand to meet the supervisors to pose their questions.
The Corpbank crisis has affected between 200 000 and half a million people and tens of state entities which saw their asset there frozen after it suspended all operations this summer.
Ivan Denkoglu Str, where the bank is located, has been sealed off by police after the protests started.
A similar protest was held on Monday.
Related Articles:
Karimanski Assumes Role in Bulgaria's National Bank, Emphasizes Eurozone Preparedness
President Rumen Radev emphasized the stability of the Bulgarian National Bank (BNB), describing it as one of the most secure financial institutions in Europe
Bulgaria’s National Bank Warns Wage Growth Will Drive Inflation in 2025
The Bulgarian National Bank (BNB) has warned that the strong growth in private consumption and the rise in labor costs per unit of production will have a pro-inflationary effect
Bulgaria's Banks Tighten Loan Conditions Amid Economic Uncertainty
Banks in Bulgaria have reported a tightening of credit conditions for both businesses and households, primarily driven by increased interest rates
Business | November 15, 2024, Friday // 08:00
Bulgarian National Bank Predicts Higher Inflation in 2025 Amid Wage Increases
Inflation is expected to rise moderately at the beginning of 2025, according to the Bulgarian National Bank (BNB)
Corporate Commercial Bank Begins Payments to Creditors After 10-Year Bankruptcy
Trustees of Corporate Commercial Bank (CCB), currently in bankruptcy, announced the commencement of payments to creditors starting at 09:00 on November 5, 2024
Thousands of Bulgarian Investors Lose Money in BETL Scheme
Thousands of Bulgarian consumers who invested in the British company BETL have reported that the company has stopped paying daily dividends and appears to have ceased its operations.
Bulgaria's Municipalities Reassured on Capital Expenditure Subsidies for 2025
In recent weeks, there has been ongoing concern regarding the state's expenses for next year, with projections showing that costs far exceed available funds
Bulgarian National Bank Warns Against Proposed Excess Profits Tax on Banks
The Bulgarian National Bank (BNB) has voiced strong opposition to a proposed 10% tax on banks' excess profits, citing concerns that it would destabilize the financial sector
Expert: Eurozone Integration Could Drive Bulgaria’s Economic Growth and Investment
Economist Rumen Galabinov has stated that Bulgaria's potential future membership in the Eurozone could significantly benefit the country's economy
Bulgaria Sees Positive Economic Trends with 2.4% GDP Growth in Third Quarter
The Gross Domestic Product (GDP) for Bulgaria in the third quarter of 2024 grew by 2.4% compared to the same period in 2023
OECD Forecasts Bulgaria's Economic Growth and Eurozone Entry by 2026
The Organization for Economic Co-operation and Development (OECD) has projected that Bulgaria will join the eurozone in 2026
