Bulgaria's Fibank says taken steps to increase capital

First Investment Bank AD

13/08/2016 12:27

SOFIA, Aug 13 (Reuters) - Bulgaria's third largest lender 
First Investment Bank (Fibank) 5F4.BB  said on Saturday it has 
already taken steps to raise its capital to meet the central 
bank's requirements following a health check on the Balkan 
country's banks. 
    Bulgaria's central bank has told Fibank to raise about 206 
million levs ($117 million) in additional capital by 
April. urn:newsml:reuters.com:*:nL8N1AT32L 
    "The Bank has already taken concrete steps, approved by the 
BNB (central bank), with a view to increasing its capital 
buffers under the hypothetical Adverse Scenario," Fibank said in 
a statement. 
    A bank spokesman said the funds are to be secured earlier 
than the central bank deadline, but did not elaborate. 
    The central bank said on Saturday the asset quality review 
(AQR) showed banks needed to make adjustments worth 665 million 
levs in the way they valued their assets and had also prompted 
the need for a capital build up at two smaller lenders. 
 
 (Reporting by Angel Krasimirov; Editing by Alexander Smith) 
 ((angel.krasimirov@thomsonreuters.com; +359 888 695 510;)) 
 
Keywords: BULGARIA FIBANK/