Development Bank to finance start-ups

The Bulgarian Development Bank (BDB) will establish a subsidiary to lend on to micro and small businesses, its executive director, Sasho Chakalski, told an international forum in Sofia on state policies and business opportunities ... More

Moody's changes outlook on Zagrebacka Banka (Croatia) to negative

Moody's also changed to ‘negative’ from ‘stable’ the outlook on the D+ bank financial strength rating (BFSR) of Zagrebacka Banka (Croatia) (ZABA). At the same time, the outlook on the bank's A2/Prime-1 ... More

Initial findings of inquiry in Development Bank unveiled

The FBiH Development Bank signed loans with different companies in 2007 worth BAM 40 million. Dzaferovic auditors, a company owned by the bank’s director Ramiz Dzaferovic, earned BAM 650,000 on these loans, by conducting ... More

Greece bans bank dividends

Greek banks that have received government aid will not pay out cash dividend or repurchase stocks, the Greek Government decided yesterday amid escalating fears over the availability of resources for Eastern European banks. The ... More

BNR sells 1 billion euro for full market sterilisation

Governor of the National Bank of Romania (BNR) Mugur Isarescu on Monday announced that BNR sold 1 billion euro to finally sterilise the forex the State Treasury converted into lei in order to cover the 2008 deficit. 'The ... More

Prime Minister to check Bulgarian Development Bank

Prime Minister Sergei Stanishev will personally check whether the measures to unglue the credit market via the Bulgarian Development Bank (BDB) are bearing fruit. A working meeting today will discuss the institution’s ... More

Fitch affirms UBB rating

Fitch affirmed the BBB+ long-term issuer default rating (IDR) with a “stable” outlook of United Bulgarian Bank. The agency also confirmed the lender’s C/D individual and 2 support ratings. The rating action ... More

New deposit by Investbank

Investbank’s latest Extra Plus deposit comes with a 7% interest rate for a three-month term and a 9% for a six-month term. The product is available in levs and in euros for a bottom opening amount of a respective BGN 5,000 ... More

Moody's downgrades Alpha Bank in Romania

Moody's Investors Service downgraded ratings on key lender Alpha Bank on an anticipated decline in fundamentals stemming from the global financial squeeze, including adverse spillover in the company’s Balkan operations, ... More

Turkey's Finansbank, to sell its Malta subsidiairy

Turkey's Finansbank, a unit of Greece's largest lender National Bank (NBG), said yesterday it had decided to sell its Malta subsidiary to another unit of NBG for 185 million euros ($240 million). NBG operates in Turkey, Bulgaria, ... More

Omani fund buys 30% in Corpbank

Sofia-based firm Bromac has sealed a preliminary accord to sell a 30% share in Corporate Commercial Bank to an Omani fund, the bank said in a filing to the Bulgarian Stock Exchange. The buyer, Luxembourg-registered Bulgarian ... More

Moody’s cuts outlook on Bulgarian banking system

Global credit rating agency Moody's said it has lowered the outlook on the Bulgarian banking system from “stable” to “negative” on worries about the market’s fundamental credit conditions in the ... More

NBG in Top 150 index

National Bank on Thursday said it will be included in the Global Dow -Top 150, an index including the top 150 companies around the world. In a statement, National Bank said this development was even more important given the ... More

ATEbank approves 675-mln-euro share capital increase plan

ATEbank on Monday said a general shareholders' meeting approved a board proposal for a share capital increase plan worth 675 million euros as part of a government-sponsored plan to boost liquidity in the economy and to deal with ... More

Eurobank on Monday announced a 950-mln-euro share capital increase plan.

Nikolaos Nanopoulos, the bank's chief executive, addressing an extraordinary general shareholders' meeting, said the plan was part of a government-sponsored plan to boost liquidity in the economy. Nanopoulos said new ... More

EUR 80 million withdrawn from Macedonian banks in November

In November last year, when the crisis was in its full swing, Macedonian citizens and companies withdrew some EUR 80 million from Macedonian banks and savings banks. The data has been posted on the website of the Macedonian ... More

Banks to draw 20bln euros in 2009 for ECB liquidity guarantees

Domestic banks plan to draw up to 20 billion euros via bond issues and loan capitalization to be used as liquidity guarantees at the European Central Bank, bolstering their position in the global financial crunch, industry ... More

Green light to EU's plan to assist Slovenia's banks

The European Commission has approved a plan of intervention in Slovenia aimed at assisting its crisis-hit banks. Following intensive meeting with Slovene authorities, the plan of support that has been approved, according to the ... More

Dutch-based Firm to Sue Montenegro Bank

Montenegro’s sole steel plant, says it will launch legal proceedings against one of the country’s largest banks for delays in processing payment. Prva Banka is owned by Prime Minister Milo Djukanovic’s ... More

Splitska banka continues with expansion despite crisis

Societe Generale is coping well with the financial crisis and unlike some other banks it can be very pleased, Splitska banka CEO Pierre Boursot said on Friday at a press briefing. The capital adequacy rate of 9 percent and ROE of ... More