News Column

Bank faces nationalisation

June 24, 2014

BULGARIA is to nationalise Corporate Commercial Bank (Corpbank) by July 21 if talks with shareholders fail.

The government and the central bank have entered discussions with Corpbank's shareholders following the run on the bank which began last week.

Finance Minister Petar Chobanov said the shareholders would have an opportunity to provide Corpbank with the resources it needs but the government stood ready to inject capital.

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Source: Herald, The (Scotland)

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