Bulgaria’s FIBank Repays over Half of 2014 State Aid   

Bulgaria’s First Investment Bank has repaid over half of the BGN 1.2 B (EUR 600 M) deposit granted by the government as liquidity support amid a banking crisis last year.

The bank has repaid BGN 775 M of the debt, according to a statement posted on the Finance Ministry website.

FIBank has to repay the remaining BGN 450 M to the state by May 2016.

The government granted the liquidity support to Bulgaria’s third-largest bank following a bank run in June 2014 under a scheme approved by the European Commission.

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