Twelve Bulgarian Central Bank Employees Interrogated over KTB

Finance | October 28, 2014, Tuesday // 12:30|  views

The BNB employees arrived at the investigative office in a special van owned by the bank. Photo by BGNES

A total of 12 employees of the Bulgarian National Bank (BNB) were summoned to give testimony at 10:00 EET (08:00 GMT) in Sofia's investigation office on Monday.

Most Bulgarian-language sources say they are being questioned in relation to the probe into Corporate Commercial Bank (KTB).

Some employees admitted to working at the BNB's Banking Supervision Department, but all vehemently refused to give more details about why they had been summoned, the website reports.

The latest development follows the BNB's move to submit a report on the situation at KTB to the newly-formed Bulgarian Parliament on Monday.

The 61-page document purports to give detailed information on how the events related to Corpbank unfolded over the past four months.

It was prepared after audit reports on KTB's books were handed to the BNB by AFA, Deloitte Audit and Ernst & Young, allegedly containing information of huge impairment costs of nearly BGN 4.2 B at both KTB and its daughter Victoria Commercial Bank. 

Bulgaria's fourth-largest lender was placed under special supervision in mid-June after a run exhausted its liquidity and prompted it to request the move.

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Tags: Corpbank, KTB, BNB, audit, Corporate Commercial Bank


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