Text size

Due to ERM-2, the Bulgarian state acquires 26% of a private bank

published on 6/11/20 8:21 PM

Photo: EPA/BGNES

The Bulgarian state and an anonymous party participated in the auction for 110 million securities, which allow raising 100 million euros from First Investment Bank - Fibank. The capital increase is a condition for Bulgaria to apply for the waiting room of the Eurozone - ERM-2.

Bulgaria's Minister of Economy Emil Karanikolov has confirmed the purchase, but did not specify in what form it was done. The procedure will be coordinated with the European Commission, because it is a form of state aid. The auctions took place yesterday.

I will have a conversation with Commissioner Margrethe Vestager to make sure that absolutely everything is fine with the Banking Union, said Prime Minister Boyko Borissov. He clarified that the Bulgarian government will support Fibank in order to remove the last obstacle for Bulgaria's accession to ERM-2.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News ERM 2 Eurozone Fibank First Investment Bank securities

More from category

Rain and strong winds towards the end of the week

On Friday, lows will be between 10 and 15 degrees Celsius , 13°C in Sofia. Maximum temperatures will be between 26 and 31°C, 28° in the capital. During the day it will be sunny in central and eastern Bulgaria. In the west, there will be clouds and after..

published on 10/3/24 7:05 PM

Bulgaria faces referral to the ECJ for failing to comply with three procedures

The European Commission has formally warned Bulgaria, Estonia and Ireland to properly implement EU laws against racism and xenophobia, reports BNR correspondent Angelina Piskova. In its letter of formal notice, the European Commission says the three..

published on 10/3/24 4:59 PM

On February 1, 2024 the first helicopter of the Helicopter Emergency Medical Service arrived in Bulgaria.

Delivery of two medical helicopters delayed until next year

There is a further delay in the delivery of the next two air ambulances to Bulgaria, the Italian manufacturer has said in a letter to the Ministry of Health. In the letter, the contractor, Leonardo S.p.A., set new deadlines for the arrival of the..

published on 10/3/24 3:30 PM