Bulgaria's Banking Sector is Safe – Banker

There is no risk of the domino effect in the banking system because of the Corporate Commercial Bank (KTB), said the chairman of the Bulgarian Bank Association Levon Hampartzumian. 

Hampartzumian, who is also the CEO of UniCredit Bulbank told journalists, quoted by the BTA wire service, that there were no other Bulgarian banks at risk of similar problems. 

“Everything is under control,” Hampartzumian said. “We don't have to worry when the situation is handled by the professionals at the Bulgarian National Bank (BNB).”

Last week BNB placed KTB under special supervision over exhaustion of liquidity.