Банкеръ Weekly



The Supervisory Board of Incentive Bank will probably include one of the two deputy ministers of economy - Sofia Kassidova or Ljubka Kachakova. The choice will be made on October 19 when the general meeting of the credit institution is to be held. The Ministry of Finance owns 99.995% of the bank's capital, and the balance of 0.005% are owned by DSK Bank. By now the Supervisory Board of Incentive Bank includes former deputy minister of economy Christo Mihaylovsky who will undoubtedly be released, Iren Petrunova, Executive Director of the Agency for Small and Medium-sized Enterprises and Milan Nikolov.

Apostolos Tamvakakis, Deputy Chairman of United Bulgarian Bank (UBB), will lead a delegation of 12 employees of the National Bank of Greece who will take part in the Southeastern Europe Economic Forum, opening on Monday, October 15, in Sofia. The Greeks will get acquainted with the current financial results of UBB, in which they hold a 89.9% stake. Stilian Vutev, CEO of UBB, will take personal care for both the comfort and the daily routine of the delegation.

Guido Bruh, Head of the Bulgarian Department at the European Investment Bank (EIB), signed an agreement with First Investment Bank's managers for launch of a credit line of EUR10MN. The term of the credit is eight years, in the first two of which FIB will pay up only the interests. This is the first private bank in Bulgaria with which such an agreement is being signed, said Mr. Bruh. According to him each project which is approved to be financed by FIB on this credit line will also be checked by EIB's experts.

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