Bulgarian National Bank launches targeted supervisory inspection of Bulgarian Development Bank

Bulgarian National Bank launches targeted supervisory inspection of Bulgarian Development Bank

The Bulgarian National Bank has announced it is launching a targeted supervisory inspection of the Bulgarian Development Bank (BDB) as of tomorrow over the public conflict that has been created.

Economy Minister in the caretaker cabinet Kiril Petkov declared that the supervisory board of the Bulgarian Development Bank refused to hand the credit records of the 8 companies which are the biggest BDB borrowers over to the auditing committee. A little after the press conference given by Minister Petkov the BDB issued a press release stating that the requested financial information has been handed over to the auditing committee. However, the BDB adds that it is making enquiries of the Bulgarian National Bank regarding the rights of access of the auditing committee to information which constitutes a trade and banking secret.

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