Text size

Five Bulgarian commercial banks go under direct supervision of ECB

published on 9/12/20 10:28 AM

Photo: Archive

Five major Bulgarian commercial banks are to go under the direct supervision of the European Central Bank as of October 1, 2020, BNR reports. This is part of the cooperation of the Bulgarian National Bank with the European financial institution on the way to Bulgaria's accession to the Euro area and the euro.

The ECB's list includes UniCredit Bulbank, DSK Bank, United Bulgarian Bank, Postbank and Raiffeisenbank (Bulgaria).

Cooperation between the ECB and the BNB will also cover the supervision of less significant banks that remain under the direct supervision of the BNB.

Radoslav Milenkov, Deputy Governor of the BNB and Head of Banking Supervision department, will represent Bulgaria in the Supervisory Board of the ECB, with the right to vote.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria Economy banks Bulgarian National Bank commercial banks DSK bank European Central Bank Postbank Radoslav Milenkov UniCredit Bulbank

More from category

Bulgaria and Argentina take new steps in their trade cooperation

Bilateral relations between Bulgaria and Argentina have received a new impetus for development following the visit of an Argentine delegation from the Chaco province to Bulgaria at the beginning of November . High-ranking officials from the..

published on 11/5/24 11:49 AM

Employers want the Supreme Administrative Court to freeze the minimum wage

Employers are contesting the rise of the minimum wage. The Bulgarian Industrial Capital Association announced that they filed a complaint in the Supreme Administrative Court. About 430,000 people in the country work for minimum wage...

published on 11/5/24 11:41 AM

Jesus Caballero grabs Manager of the Year Award for 2024

If the political crisis continues, the lost benefits will reach a threshold after which the Bulgarian business will begin to lose competitiveness due to growing deficits in education, healthcare, infrastructure, regional development and demographics...

published on 11/5/24 9:54 AM