Protest Rally in Sofia Demands KTB Reopening

A protest rally in front of the central bank building in Sofia on Friday demanded the reopening of Corporate Commercial Bank (KTB or Corpbank), state radio BNR reported.

The protest action that started at 6pm local time urged the Bulgarian National Bank (BNB) and the government to quickly apply a rescue plan for the bank that would allow KTB clients access to their accounts frozen since June.

Protest rallies have been scheduled to start at the same hour in the cities of Plovdiv, Varna and Burgas.

The BNB placed KTB under special supervision on June 20, freezing all of its operations and ordering an audit of its books following a deposits run. Earlier this month, the BNB allowed KTB borrowers to repay their loans but deposits remain frozen. The period of special supervision can last up to six months.

Caretaker Finance MinisterRumen Porozhanov said earlier on Friday he had discussed with senior BNB officials a proposal to allow partial access by depositors to their funds at KTB next month.

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