Bulgaria's Investbank Says Addressing Capital Shortfalls Found by ECB
Bulgaria's Investbank said that it has already taken measures to address the 51.8 million euro ($57.6 million) capital shortfall found by a comprehensive assessment carried out by the European Central Bank (ECB)."As of June 2019, Investbank JSC has already taken specific measures in regard to the individual credit review findings of AQR and has reclassified the problem exposures," the bank said in a statement on Friday.Risk-weighted assets are optimised as well, the lender added.Investbank also said that it intends to continue to follow a moderately conservative risk policy by diversifying and restructuring its assets. The lender will capitalise its financial result and will abstain from dividend distribution. Earlier on Friday, the ECB said that it found capital shortfalls in two of the six Bulgarian lenders checked - Investbank and First Investment Bank (Fibank). The ECB found a shortfall of 262.9 million euro at First Investment Bank (Fibank) and 51.8 million euro at Investbank