Micro loans grow in Bulgaria

Fast micro loans of up to 500 euro are frequently advertised in Bulgaria. Experts say these types of loans are becoming even more popular in the days before Christmas. The expansion of the microlenders in Bulgaria during the ... More

Turkish bank plans massive loan for Greek farmers

Turkey’s state-run Ziraat Bank, also active in Greece, has suggested loaning conditional credit to Greek farmers, industry workers and businessmen in a project to support the Greek economy, according to a statement sent to ... More

BoG governor calls for 'national

Bank of Greece governor George Provopoulos on Monday stressed the need for a "national strategy broader in scope than the memorandum" in the central bank's interim report on monetary policy presented to Parliament. Provopoulos ... More

Terms for Greek bank recapitalization revealed

Greek banks will recapitalise themselves by issuing shares and convertible bonds and must meet a core Tier 1 capital adequacy ratio of at least 6 percent, the government decided on Monday. The shares will be offered at a 50 ... More

Nova Agrobanka's depositors withdraw EUR 3.8 million from Postal Savings Bank

People who had had a savings account in Nova Agrobanka, which was taken over by the Postal Savings Bank on Monday due to bankruptcy, withdrew EUR 3.8 million worth of deposits during the last week, Svetlana Lalovic, head of the ... More

Deposits on Greek Banks rise

Greek commercial banks recorded a savings capital inflow of around 1.0 billion euros in September, with saving deposits by Greek households and enterprises totaling 154.3 billion euros at the end of the month, from 153.4 billion ... More

Changes to law on NBS could affect IMF programme

International Monetary Fund (IMF) Director for Europe Reza Moghadam said on Thursday the amendments to the law on the National Bank of Serbia (NBS) could affect significantly Serbia's macroeconomic stability and the programme ... More

EBRD remains Montenegro's reliable partner and investor

Prime Minister Igor Lukšić and Finance Minister Milorad Katnić met with the delegation from the European Bank for Reconstruction and Development’s (EBRD) Board of Directors on Sunday. PM Lukšić ... More

UniCredit Bulbank Launches Pioneer Product for Expats in Bulgaria

A woman looks on in front of the central office of UniCredit Bulbank in Sofia. UniCredit Bulbank is the biggest bank in Bulgaria. Photo by EPA/BGNES UniCredit Bulbank, part of the UniCredit Group, said it plans to launch a ... More

Serbia needs serious plan to reduce public debt

National Bank of Serbia (NBS) Governor Dejan Soskic said that according to the central bank's estimates, Serbia's public debt is around or slightly over the limit defined by the Budget System Law of 45 percent of the GDP. "Of ... More

Bankers back in Athens for bond deal

IIF Bank negotiators are returning to Athens over the weekend in another effort to complete a 100bn euro debt-amnesty deal with the government. The Washington-based Institute of International Finance chief Charles Dallara ... More

NBS halts talks with IMF

The National Bank of Serbia (NBS) called for making additional efforts to achieve an agreement and continue Serbia's arrangement with the International Monetary Fund (IMF). NBS Governor Dejan Soskic warned at a news conference ... More

United Bulgarian Bank seizes Holding Putishta accounts

Bulgaria's United Bulgarian Bank (UBB) has levied a distraint on the accounts of Holding Roads, the road construction company, controlled by businessman Vasil Bozhkov, said on September 15 2011. Holding Roads leads the ... More

Societe Generale says Moody's downgrade has no impact on Bulgarian unit

The fundamentals of Societe Generale were stable and the bank's rating downgrade had no impact on its Bulgarian subsidiary Societe Generale Expressbank, the French group said in a statement in relation to the recent negative ... More

Bulgaria's central bank approves sale of NLB Banka Sofia to ТBIF Financial Services

The Bulgarian National Bank said on June 17 2011 that it has given an approval to Netherlands-registered ТBIF Financial Services to acquire NLB Banka Sofia, the Bulgarian subsidiary of Slovenian Nova Ljubljanska Banka ... More

S&P cuts Credit Agricole rating on Greece

French bank Credit Agricole, one of the most exposed to Greece's debt-stricken economy, saw its credit rating cut on Friday by Standard & Poor's as fears over the euro zone's debt load intensify. S&P lowered the third-biggest ... More

Bulgaria's central bank asked three banks to hike their capital in 2010

The Bulgarian National Bank (BNB) ordered three local banks to increase their capital in the past year, the central bank's report for 2010 shows. The request for "additional capital support" was conveyed to the financial ... More

Bulgarian Fibank extends EUR 59m loan to Kremikovtzi's buyer

Bulgarian First Investment Bank (Fibank) has provided a EUR 59 million loan to Eltrade Company, the firm which won the tender for the production assets of insolvent steel mill Kremikovtzi on Tuesday, the bank said. "First ... More

Bulgaria's FIBank places EUR 20m bond

Bulgaria's First Investment Bank (FIBank) has placed a EUR 20 million bond, which will allow it to boost its credit portfolio by more than BGN 320 million, the bank said on Thursday. As the bank plans to add the debt ... More

EBRD and Crédit Agricole Serbia join forces to support for the country’s agricultural sector

The EBRD and Crédit Agricole Serbia are joining forces to increase the support for the country’s agricultural sector. Under the agreement local agribusinesses stand to benefit from a €20 million loan ... More