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

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

Bulgaria congratulates newly elected Pope Leo XIV

Congratulations to the new Pope Leo XIV! May he work with wisdom and dedication for a more peaceful world and dialogue between all, Prime Minister Rosen Zhelyazkov wrote in "X" on the occasion of the election of the new head of..

published on 5/9/25 8:58 AM

Pleven Medical University gives diplomas to 122 young doctors from 19 countries

The young foreign doctors of the Pleven Medical University will receive their diplomas on May 9. The festive procession of the graduates will start from the central city square "Vazrazhdane" and will end at the Summer Theater of the Rectorate, where..

published on 5/9/25 6:05 AM