Commercial Bank Victoria

Commercial Bank Victoria EAD is opening on Friday, December 12, following nearly half a year of conservatorship.

All sums, and not only those of up to BGN 196 000 (as the case was with Corporate Commercial Bank) will be available for withdrawal.

Commercial Bank Victoria EAD is due to renew transactions and services for customers as of December 12, 2014, Bulgaria's central bank has said.

Victoria, formerly Credit Agricole Bulgaria and a subsidiary of Corporate Commercial Bank (Corpbank or KTB) has been under conservatorship since June, just days after a similar move at KTB following a deposits run.

European Banking Authority said Monday Bulgaria should allow immediate access of depositors at Corporate Commercial Bank (Corpbank, KTB) to their savings.

Bulgaria’s central bank has partly unfrozen operations at Corporate Commercial Bank and its wholly owned subsidiary Victoria Bank to enable their debtors repay loans.

The Bulgarian National Bank (BNB) said on Friday that Corpbank and Victoria Bank are now allowed to accept repayment of credits they had extended.

The bank Credit Agricole Bulgaria is renamed to Commercial Bank Victoria, reports Money.bg, quoting an entry in the Commercial Registry from August 8. 

Currently the bank, 100% owned by troubled Corporate Commercial Bank (KTB), is represented by the administrators, appointed by the Bulgarian National Bank (BNB) Hristina Stamova and Bozhidar Arshinkov.