Банкеръ Weekly



Representatives of the newly-established bank HVB Bulgaria have already submitted their license applications at the Bulgarian National Bank (BNB). The credit institution will be owned by Bank Austria and will inherit the assets of the present Sofia branch of HypoVereinsbank (Bulgaria). Its equity capital will be EUR15MN. BNB promised to issue the certificates of its executive directors Ljudmil Gachev, Helmut Haller, and Wolfgang Helpa along with the banking licence.

Maria Grigorova is acting Executive Chief of the Specialized Supervision Directorate of the Bank Supervision Department of the BNB. Till May, 2001, the Directorate was headed by Rumiana Georgieva, who, however, became MP from the National Movement Simeon II's parliamentary group. Nevertheless, when Ms. Georgieva's mandate is over, she will be able to resume her former position at the central bank.

On September 19 the State Securities Exchange Commission turned down EIBank's prospect for mortgage bonds issue for the reason of noticed inaccuracies. On Monday, September 24, the bank's experts will deposit a corrected version of the document at the Commission. EIBank's issue of mortgage bonds will be public and its nominal value will be BGL3MN, distributed in 300,000 bonds. The annual interest will be 7.25% and the term of redemption - two years.

On September 24 First Investment Bank (FIB) starts writing down mortgage bonds. The BANKER weekly has been informed that this week several pension funds have already received the bank's offer through their investment intermediaries. The exact characteristics of the issue have also been announced. The 2-year securities' profitability will be 7.8% a year and their nominal value between EUR3.5MN and EUR5MN in accordance with the public interest. The issue can be written down at FIB's headquarters and at the First Financial Brokerage House.

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