Банкеръ Weekly



BNB's recently appointed Governor Ivan Iskrov and his predecessor Svetoslav Gavrijski were official guests at the celebrations for the 75th anniversary of the National Bank of Greece, held in Athens, November 2 to 4. They were personally invited by Nikolas Garganas, Governor of the Greek central bank. The National Bank of Greece was established in 1927 - 48 years after BNB. Currently, it is a joint-stock company with participation of private juristic persons in addition to the State. The bank's operation is governed by special laws, approved by the Greek Parliament in December 1997 and April 2000.The Deputy Finance Minister Krassimir Katev accepted the invitation of the Management Board of the Bulgarian Dealers Association to become its honorary Chairman. At the meeting with the association's Management Board, held at the Finance Ministry on November 5, Mr. Katev announced the institution's new policy for issuance of state debt instruments. It will no more announce an annual calendar of the issues of securities and bonds, to be launched on the market. Information about the total volume of the state debt (BGN650MN for 2004) and for the various securities to be put up for sale by the Finance Ministry, will be given in advance.The Supervisory Board of DSK Bank will hold a session on November 13 or 14. The board is chaired by Sandor Csanyi, Director of the Hungarian bank OTP, which is the sigle owner of the saving institution, and his deputies are Zoltan Speder and Laslo Wolf. The three Supervisory Board members will discuss and approve the policy and budget of DSK Bank for 2004. The 2004 Budget Act stipulates that all banks in which ministries and budget organisations have opened accounts, should guarantee the money in them by government securities. According to some bank managers, this practice is quite outdated. It was introduced in 1997 as a reaction to the series of bankruptcies of Bulgarian credit institutions in 1996 when huge amounts of state-owned money were lost after these banks were declared insolvent.BNB'd Bank Supervision department has issued a certificate to Tsenka Petkova as a member of the Management Board and Executive Director of Raiffeisenbank (Bulgaria). The lawyer Ms. Petkova has been working in the bank since 1994. She has consecutively headed the Operations, Marketing and Sales, and Branch Network divisions.

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