Global economy to accelerate modestly to 2.9%

Weak growth among major emerging markets will weigh on global growth in 2016, but economic activity should still pick up modestly to a 2.9 percent pace, from 2.4 percent growth in 2015, as advanced economies gain speed, ... More

EBRD’s new strategy for Turkey sets out investment priorities

EBRD’s new strategy for Turkey sets out investment priorities By Olga Rosca@olgarosca The Board of Directors of the European Bank for Reconstruction and Development (EBRD) has approved a new strategy for Turkey ... More

Money outside banks increased

While interest rates for savings have dropped in unconsiderable levels, individuals seem to try new investment alternatives outside the system, according to the Bank of Albania, which says that money outside banks increased ... More

Serbia, Turkey's Halkbank seal deal for Cacanska Banka

Serbia has agreed a deal with Turkey's state-run Halkbank for the sale of a 76.76 percent stake in local lender Cacanska Banka and they will ink the deal on Friday, Serbia's finance ministry said. Serbia's daily Blic reported ... More

IMF Calls for Better Banking Supervision in Bulgaria

The IMF called for better banking supervision in Bulgaria in the concluding statement of its mission to the country, which was released on Friday. The IMF notes that the collapse of Corporate Commercial Bank (KTB) and the ... More

NBS takes decision on repayment of Swiss franc loans

Banks will have to offer their clients the option to convert Swiss franc-indexed housing loans to euro-denominated loans, the National Bank of Serbia (NBS) has said in a statement. The NBS has offered four models of converting ... More

NBS buys EUR 40 million, exchange rate at RSD 120.2381

The exchange rate of the Serbian dinar will remain unchanged on Wednesday since the National Bank of Serbia (NBS) made an intervention on the inter-bank foreign exchange market on Tuesday and purchased EUR 40 million, thus ... More

EBRD plans to invest EUR 100 million in Montenegro

European Bank for Reconstruction and Development (EBRD) is planning to invest around EUR 100 million in Montenegro, focusing mainly on the private sector, Head of EBRD Montenegro Office Giulio Moreno told the press conference ... More

Fitch: Greek election uncertainty raises banks´ liquidity risks, revises outlook on Greece to negative

Fitch stated that political uncertainty in Greece raises liquidity and funding risks for banks. However, the rating agency noted that potential liquidity strains should be manageable since the banks are better prepared to ... More

Bulgaria's Central Bank reports drop in foreign investment

Bulgaria becomes unattractive for foreign investment, shows a report of the Bulgarian National Bank (BNB), quoted by the Sega daily. According to the data in the first three quarter of this year the country attracted only ... More

Bad loans keep growing

Although the government has paid 260 million USD of due debts to businesses, the bad loan level keeps growing in banks. Recent official data from the Bank of Albania show that problematic loans reached 24.9% from 24.06 that ... More

EBRD offers 100 mln euro to Albania to make bank deposits safer

A guarantee has been added to the deposits that all Albanians have in the banks of the country. The deposits will now be safer than before, thanks to a 100 million euro loan that the European Bank for Reconstruction and ... More

Bank of Albania Council of Millionaires

The members of the Supervisory Council at the Bank of Albania might have different professional careers and different political affiliations, but they all share something in common: the highest paid posts in the public sector. ... More

IMF "warned" the Bank of Albania

One day ago, after the special meeting for the theft of the Albanian Treasury, the Supervisory Council of the Bank of Albania declared that the procedures, instructions and internal rules of the Bank are according to the law ... More

World Bank provides EUR 7.3 million loan to Albania

The World Bank Group's Board of Executive Directors has approved EUR 7.3 million in IBRD financing for the Environmental Services Project in Albania, which will benefit farmers, forest associations, groups, and individuals in ... More

Bulgaria's Central Bank Revokes License of Corporate Commercial Bank

The Bulgarian National Bank (BNB) is to suspend the license of troubled Corporate Commercial Bank (KTB) and to nationalize its subsidiary, Credit Agricole Bulgaria. BNB is also to transfer citizens' and companies' assets held ... More

Fitch: Runs on Bulgarian Banks Flag Governance Risks

Liquidity risks are heightened for all Bulgarian banks following two bank runs in quick succession, rating agency Fitch said Wednesday. In a message posted on its website, Fitch stresses that "corporate governance problems at ... More

European Commission Approves Liquidity Support Scheme for BG Banks

The European Commission approved a liquidity support scheme for Bulgarian banks to the tune of BGN 3.3 B, said the Commission in a press statement. On Sunday (June 29), Bulgaria asked the Commission to authorise the provision ... More

S&P: Bank Turbulence Will Not Affect Bulgaria's Debt Rating

Developments in Bulgaria's banking sector will not affect sovereign debt rating of the country, agency Standard & Poor's (S&P) says. The announcement comes after S&P decided to cut the credit rating of Bulgaria by one notch ... More

European Central Bank lowers interest rates

At today’s meeting the Governing Council of the ECB took the following monetary policy decisions: 1.The interest rate on the main refinancing operations of the Eurosystem will be decreased by 10 basis points to 0.15%, ... More