Банкеръ Weekly

Briefs

NAMES

The Management Board of Tokuda Credit Express Bank decided on Tuesday to relieve its curator Plamen Petrov of his duties. The news found Mr. Petrov in bed with a leg in plaster. The decision was made on the personnal insistance of the bank's Supervisory Board Chairman Roumen Serbezov, who represents the interests of the Japanese company Tokushukai Medical Corporation, which holds 53% of the credit institution's capital. Mr. Petrov fell into disgrace with Mr. Serbezov as he impudently raised in front of the Supervisory Board Chairman some ticklish questions regarding the bank.Nelly Kordovska, Executive Director of the Bulgarian Consolidation Company (BCC), announced for the BANKER weekly that she expected the audit at BCC, carried out by the Agency for State Internal Financial Control, to be concluded by end-May. The audit includes BCC's operation from the beginning of 1998 till now. BCC is perhaps the only state-run company that has not been audited since its establishment in 1992.Deputy Finance Minister Gati Al Djeburi will head a special commission, to be in charge with setting up an Unified Incomes Agency. The IMF, the World Bank, and the European Commission have expressed support for this project. The Chief Taxation Director Nikolai Popov and the Manager of the National Insurance Institute (NII) Yordan Hristoskov will be deputy chairmen of the commission, which will also include deputy ministers from the social and health care ministries and experts from the Chief Taxation Directorate, the NII, the National Health Insurance Fund, and the National Statistics Institute.BNB's Vice-Governor Bozhidar Kabakchiev has invited representatives of all credit institutions in Bulgaria to take part on April 16 in the discussion of amendments to BNB's Regulation No 3 on bank payments. The changes are necessitated due to the introduction of the Real Time Gross Settlement (RTGS) system. The Unified Bank Standards, regulating the form and contents of payment documents, shall be also amended.IMF's Resident Representative in Bulgaria Piritta Sorsa announced that the total amount of loans to the private sector increased by 20% in 2001. Nevertheless, she believes that crediting in Bulgaria still does not satisfy the companies' necessities for financing. In the Czech Republic the total amount of bank credits is about 40% of the GDP, Ms. Sorsa said. If we want to catch up with the Czechs the loans realeased in Bulgaria should exceed BGN12BN, while they amounted to BGN4.3BN only in end-February, 2002.

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