site.btaCentral Bank Revokes Corpbank Banking Licence

Central Bank
Revokes
Corpbank Banking Licence


Sofia, November 6 (BTA) - The Governing Board of the Bulgarian
National Bank
revoked the banking licence of Corporate Commercial Bank
(Corpbank) on Thursday, the bank said. The withdrawal is in line
with the Credit Institutions Act and the Bulgarian National
Bank Act.

Earlier in the day, BNB revoked a March decision for increasing
Corpbank's capital by 35 million leva. According to BNB, the
bank indirectly financed the lender and
the entire payment that lender made to Corpbank under the
contract was done with funds provided by the bank itself.

The BNB report on the inspection it conducted between July and
October was referred to the prosecution on October 27./LI/BR,PP





/СН/