Bulgarias central bank has said there has been a systematic attempt to destabilise the country through attacks on the banking system. It said it would use all powers at its disposal to protect citizens savings. Shares in Bulgarian banks fell sharply for the second day in a row. These is speculation that a run on deposits at the countrys fourth-biggest bank, Corporate Commercial Bank, could spread to others. The central bank took control of Corporate Commercial Bank last week and said its problems were isolated. Economists and Fitch Ratings agency have also played down the risk of contagion, while foreign banks with subsidiaries in Bulgaria insist their operations are safe. But comments by a deputy from the countrys ruling party on Thursday that another bank may suffer a similar fate further hit confidence and left investors rushing to ditch Bulgarian bank stocks.
Posted on: Sat, 28 Jun 2014 22:01:35 +0000
Trending Topics
Recently Viewed Topics
© 2015