Over BGN 1 B Withdrawn From Bulgarian Banks In June

Deposits for over BGN 1 B have been withdrawn in June from Bulgarian banks, shows data of the Bulgarian National Bank (BNB). 

The data does not show from which banks were withdrawn the deposits, but it can be safely assumed that they were mostly the troubled Corporate Commercial Bank (KTB) and the First Investment Bank, which sustained a deliberate attack spreading panic among its depositors. 

According to the BNB information, in June most significant withdrawals were made by private citizens – compared to end of May the total sum of household savings dropped by BGN 478.7 M to BGN 38.6 B. 

The deposits of non-financial companies decreased by BGN 334.1 M to a little over BGN 15 B. The financial companies (investment brokers, insurance companies, pension funds, etc.) withdrew BGN 231 M and the deposits dropped to BGN 3.36 B.