Bulgaria's number 4 bank loses key permit

GMT 11:34 2014 Thursday ,06 November

Arab Today, arab today Bulgaria's number 4 bank loses key permit

Arab Today

Bulgaria's central bank said Thursday it has revoked a key permit allowing the country's fourth-largest lender to boost its capital, likely clearing the way for the loss of its banking licence and bankruptcy.
"The BNB governing council revoked the permit issued to Corporate Commercial Bank ... allowing it to include in its Tier 2 capital the leva equivalent of a 35-million-euro loan," the central bank said in a statement.


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