Bulgaria's third largest lender must raise capital after tests

First Investment Bank AD

13/08/2016 12:05

SOFIA, Aug 13 (Reuters) - Bulgaria's central bank has told 
the country's third largest lender First Investment Bank 
(Fibank) 5F4.BB  to raise about 206 million levs  ($117 million) 
in additional capital by April, following a health check on the 
Balkan country's banks. 
    The central bank said on Thursday that the asset quality 
review (AQR) and stress tests showed none of Bulgaria's 22 banks 
require state support and that the banking system as a whole is 
well capitalised and resilient to market shocks. L8N1AS5KK  
    The health check was the first by the Balkan country since a 
banking crisis, triggered by the demise of its fourth largest 
lender Corporate Commercial Bank (Corpbank) two years ago. 
    The central bank said on Saturday the AQR showed banks need 
to make adjustments worth 665 million levs in the way they 
valued their assets and prompted the need for a capital build up 
at two smaller lenders as well.    
 
 (Reporting by Tsvetelia Tsolova; Editing by Alexander Smith) 
 ((tsvetelia.tsolova@thomsonreuters.com; +359-2-93-99-731;)) 
 
Keywords: BULGARIA BANKS/TESTS