Victoria Bank to Open on Friday after Months of Supervision

Commercial Bank Victoria EAD is due to renew transactions and services for customers as of December 12, 2014, Bulgaria's central bank has said.

Victoria, formerly Credit Agricole Bulgaria and a subsidiary of Corporate Commercial Bank (Corpbank or KTB) has been under conservatorship since June, just days after a similar move at KTB following a deposits run.

Victoria's liquidity is now at BGN 160 M, the Bulgarian National Bank BNB has said in a statement.

Depositors there will be offered unlimited services from Friday as earlier announced.

A shareholders meeting is scheduled for December 15 at Commercial Bank Victoria to sit on a proposal to change the bank's Statute and to have a new five-strong Board of Directors.

The five names mentioned by the national regulator are Krasimir Zhilov, Galya Dimitrova, Bozhidar Arshinkov, Evgeniya Stoyanova and Boyka Vasileva.

Ernst & Young is the BNB's proposal to become an auditor at Victoria, a function the company had had until end-2013.

The special supervision on Victoria will be lifted on December 12.

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