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

National interest is protected in agreement with Greece on the water of Arda River

The national interest is protected. There is no dominant or subordinate position in inter-neighborly relations. This is how Prime Minister Rosen Zhelyazkov responded to a parliamentary question from Vazrazhdane party about the..

published on 5/9/25 11:42 AM

Bulgaria did not stop the plane of the Serbian president from flying to Moscow

Bulgaria had no reason to prohibit the plane of President of Serbia Aleksandar Vučić from flying over Bulgarian airspace en route to Moscow for the military parade on May 9. This was what Prime Minister Rosen Zhelyazkov said in..

published on 5/9/25 10:37 AM

With the introduction of the euro all accounts will be converted free of charge

The Bulgarian National Bank (BNB) will stop announcing the base interest rate after the introduction of the euro as national currency. This is stated in the series of questions and answers with which the central bank explains the..

published on 5/9/25 9:37 AM