Credit Agricole Bulgaria

Bulgarian Central Bank BNB's position on the developments at Corporate Commercial Bank (Corpbank or KTB) is a clear sign of the financial authority's "strong dependencies", KTB majority owner Tsvetan Vasilev has said.

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.

The profits of Bulgaria's banks in September continues to drop, shows data for Q3 2014 of the Central bank (BNB).

Twenty-seven banks had a total of BGN 57.9 M in the end of September, BGN 66.2 M in the end of August and BGN 80.6 M in the end of July.

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

Rossiyskiy Kredit Bank wants to acquire 100% of the capital of Bulgaria's Victoria commercial bank (formerly Credit Agricole Bulgaria), part of the troubled Corporate Commercial Bank (KTB), reports BGNES.

The payment of the guaranteed deposits in Bulgaria's troubled Corporate Commercial Bank (KTB) and its daughter bank Victoria (formerly Credit Agricole Bulgaria) would start in November, said Bulgaria's caretaker Finance Minister Rumen Porozhanov, quoted by BTA.

Bulgaria's Deposit Insurance Fund (BDIF) is ready to pay the deposits of up to EUR 100 000 in case the troubled Corporate Commercial Bank (KTB) loses its license.

According to the DIF press statement, which came in response to the infringement proceedings opened by the European Commission against Bulgaria for delaying the payment of the guaranteed deposits.

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.