SOFIA (Bulgaria), November 5 (SeeNews) – The Bulgarian central bank said on Wednesday a letter it received from a man who claims to represent a group of unnamed investors interested in restructuring troubled Corporate Commercial Bank [BUL:6C9] and its affiliate Victoria Commercial Bank could not be regarded as serious.
In late June the Bulgarian National Bank (BNB) placed Corporate Commercial Bank (Corpbank) and its affiliate Victoria Commercial Bank under conservatorship and suspended all payments. In September, the central bank extended the special supervision of Corpbank until November 20, saying this was the cut-off point for taking a final decision on its fate.
"[...] the letter does not constitute legally-binding information on the powers of the sender and the investors which he claims to represent," the central bank said in a statement.
It contains no guaranties whatsoever that the unnamed potential investors meet the legally-prescribed requirements for being a shareholder in a credit institution, nor that they have the capacity to implement the proposed "formula for increasing the capital to up to 5.2 billion levs ($3.3 billion/2.7 billion euro)", BNB added.
The sender of the letter is a man named Nikola Sukmandjiev.
(1 euro = 1.95583 Bulgarian levs)