Banks to Repay KTB Deposits Unveiled

Finance | November 24, 2014, Monday // 14:52|  views

Corpbank's headquarters in downtown Sofia. Photo by BGNES

Bulgaria's Bank Deposit Insurance Fund has announced the names of the nine banks to be in charge of reimbursing deposits at Corporate Commercial Bank (Corpbank or KTB) from December 4.

After KTB has been under conservatorship since June 20, depositors are still waiting for access to their savings.

The nine financial companies are: Allianz Bank Bulgaria, DSK Bank, United Bulgarian Bank, First Investment Bank, Raiffeisen Bank (Bulgaria), CIBANK, UniCredit Bulbank, Central Cooperative Bank and Eurobank Bulgaria (Postbank).

Within the next five years, depositors at KTB will be able to access their money within the working hours of the respective bank.

All sums of up to BGN 196 000 (EUR 100 000) are guaranteed for a single depositor, regardless of the number of accounts he has opened at Corpbank. This amount of money involves both principal and interests accumulated as of November 6, the date when Bulgaria's fourth-largest lender was declared insolvent.

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Tags: conservatorship, Corporate Commercial Bank, Corpbank, KTB, Deposit Insurance Fund, deposits


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