Bulgarian Banks Are Stable, PM Borisov Tells Greek C-Bank Chief Stournaras

Bulgarian Prime Minister Boyko Borisov (L) shakes hands with Bank of Greece Governor Yannis Stournaras during a meeting in Sofia, 10 June 2016. Photo: government.bg

The stability of the banking sector is extremely important for Bulgaria to avoid a repetition of the country’s banking crisis of 2014, Prime Minister Boyko Borisov said during a meeting with Greece’s central bank governor Yannis Stournaras on Friday.

One of the first tasks of the new coalition government,which came to power after October 2014 elections, had been to take measures jointly with the Bulgarian National Bank (BNB) to improve banking supervision and safeguard the financial stability in the country, Borisov told Stournaras, according to a statement from the government press office in Sofia.

Yannis Stournaras arrived on a visit to Sofia on Thursday at the invitation of his BNB governor Dimitar Radev.

Borisov also said that according to BNB assessment, the Bulgarian banking system is stable, including the banks with foreign participation in their capital.

Greek-owned banks hold about one-fifth of the Bulgarian banking system’s assets.

Borisov added that he expected the ongoing stress tests of banks in Bulgaria to provide fresh evidence of the stability of the banking sector in the country.

Dimitar Radev and Finance Minister Vladislav Goranov also took part in the meeting, according to the statement.

 

 

 

 

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