ECB finds capital shortfalls at two Bulgarian banks
26/07/2019 18:01
FRANKFURT, July 26 (Reuters) - The European Central Bank
said on Friday it had found capital shortfalls at two out of six
Bulgarian banks that it would now help supervise, a preliminary
step in Sofia's efforts to join the euro zone.
First Investment Bank was found to have a capital shortfall
of 262.9 million euros ($292.42 million) while Investbank came
up short by 51.8 million euros, the ECB said after conducting a
health check of the six banks.
UniCredit Bulbank CRDI.MI , DSK Bank, United Bulgarian Bank
and Central Cooperative Bank 4CF.BB all passed the test.
The ECB's asset quality review and stress tests are part of
Sofia's efforts to join the banking union and the "waiting room"
for euro zone membership this year. urn:newsml:reuters.com:*:nL8N23X4XH
($1 = 0.8990 euros)
(Editing by Kirsten Donovan)