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Bulgaria's Easy Asset Management to cut unit's capital by 35 mln euro

Author Mario Tanev
Bulgaria's Easy Asset Management to cut unit's capital by 35 mln euro Author: Ken Teegardin. Licence: Creative Commons.

SOFIA (Bulgaria), June 5 (SeeNews) - Bulgaria's Easy Asset Management, which operates under the EasyCredit brand, has decided to decrease the capital of its wholly-owned subsidiary Financial Bulgaria by 68.46 million levs ($39.5 million/35.0 million euro) to 1.5 million levs, according to commercial register data.

The aim of the capital decrease is to cover losses from preceding financial years and to free up cash, documents entered into the commercial register last month showed.

Easy Asset Management acquired Provident Financial Bulgaria from International Personal Finance in 2017, and renamed the company to Financial Bulgaria.

(1 euro = 1.95583 levs)

 

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