ECB to Assess Six Bulgarian Banks, to Post Results in July 2019

ECB to Assess Six Bulgarian Banks, to Post Results in July 2019

The European Central Bank said that it will undertake a comprehensive assessment of six banks in Bulgaria as part of the process of establishing close cooperation on supervision with the country's central bank. ECB will test the four largest lenders in Bulgaria in terms of assets - UniCredit Bulbank, DSK Bank, United Bulgarian Bank (UBB) and First Investment Bank (Fibank), as well as lower-ranked Central Cooperative Bank (CCB) and Investbank, ECB said in a statement on Monday. The assessment of the six banks includes an asset quality review and a stress test."The exercise will start in November 2018 and its aggregate and bank-by-bank results are expected to be published in July 2019. The cut-off date for the exercise will be 31 December 2018," ECB said. Bulgaria's finance ministry said last month it had sent a request for close cooperation with ECB on banking supervision as part of the country's commitments taken in a letter of intent for participation in the ERM II, the euro's waiting room. Bulgaria intends to enter the mechanism for close cooperation and ERM II simultaneously.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.