Four invited to submit non-binding bids for Bulgaria's Victoria Bank

Among the invited bidders are two Sofia-based banks – Investbank and Bulgarian American Credit Bank, Victoria Bank said in a statement on Wednesday.

The other two invited to submit an offer are Sofia-based Vabo Internal and a tie-up between Kerbler Holding, Imfarr Beteiligungs and Green Finance.

The previous procedure for the bank’s sale failed after Bulgaria's central bank said in March it refused to grant preliminary approval to the request of Sofia-based D Commerce Bank to acquire 100% of Victoria. The proposed strategy for the acquisition and business development of Victoria pose considerable risks, the central bank said at the time.

Victoria Bank recorded a net loss of 5.6 million levs ($3.4 million/2.9 million euro) in 2016, compared to a loss of 9.3 million levs a year earlier. Its total assets stood at 128.5 million levs at end-2016.

(1 euro = 1.95583 levs)