Банкеръ Weekly

Briefs

ROYAL TREASURER WILL KEEP TRACK OF ROSEXIMBANK'S MONEY

Emil Kyulev made his next brilliant management manoeuvre by including Maxim Dimov, treasurer of the National Movement Simeon II (NMSII), in the Supervisory Board of ROSEXIMBANK. Mr. Dimov was elected member of the bank's Supervisory Board at its annual general meeting, heldon September 25. He will occupy the position vacated by Valentin Zlatev's firm Agrohold. Emil Kyulev, Maxim Dimov and Todor Batkov, lawyer of Michael Chorney and representative in the bank of several of Mr. Chorney's offshore firms, seemed rather pleased with the results of the meeting. The three of them explained to the BANKER weekly that they have discussed Mr. Kyulev's ambitious plans for the future development prospects of the credit institution. He intends to turn ROSEXIMBANK into one of the biggest banks in Bulgaria which to be able to exert considerable influence on the country's economy. To this end he attracted in ROSEXIMBANK's management such figures like the executive directors of Bulgarian Post Bank Vladimir Vladimirov and Reni Petkova and BULBANK's former departments' managers Angel Gekov and Alexander Pruvchev. Still in July Mr. Vladimirov promised to the BANKER weekly that till year-end the bank's assets will be doubled and he is well on his way to carry this out. At present ROSEXIMBANK's balance sheet value is BGL220MN and by end of the year it is expected to top BGL250MN. Just for a comparison bank's assets were evaluated to BGL136MN in June, 2001. According to Mr. Vladimirov, the credit institution's net profit for 2002 will be BGL1.2MN, being only BGL661,800 in 2000.

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