Bulgaria's Fibank has Secured EUR 130 Million to Prop up Capital

Finance | July 27, 2019, Saturday // 10:00|  views

Bulgaria’s fourth largest lender First Investment Bank said on Friday it had already secured 130 million euros to prop up its capital after the European Central Bank found a 262.9 million euro shortfall, reports Reuters.

The ECB carried out a comprehensive assessment on six Bulgarian banks and found capital shortfalls at First Investment Bank and another small bank that it would now help supervise, a preliminary step in Sofia’s efforts to join the euro zone.

Fibank said in a statement it would address the 133 million euros with its profit, by de-risking of its credit portfolio and other measures.