Банкеръ Weekly



The Supervisory Board of the Central Cooperative Bank (CCB) made some substantial changes in its managerial team, appointing to it members, who are connected with the Varna strong-arm group TIM. CCB's Management Board already has seven, up from five members. The former executive director Valeria Antonova was released from the Board and her responsibilities were taken over by Genadi Tabakov (so far member of the Management Board). Three new members were appointed as well: Kamen Genov, Tsvetan Botev, and Alexander Kerezov.Mr. Genov was executive director of the Corporative Bank when it was owned by BULBANK and Eurofinance. He accupied that post for about two years and was releaved of his duties in October 2000, four months after BULBANK sold 99.9% of Corporative Bank's capital to eleven foreigh shareholders. Mr. Botev and Mr. Kerezov are employed by companies that are under TIM's direct control. Mr. Botev is Deputy Chairman of the Management Board of Chimimport, which was purchased by TIM in the end of 2000. Mr. Kerezov is in the managerial team of Chimimport's subsidiary Chimimport Finance. Tihomir Atanasov, who is a manager of several firms connected with TIM, was appointed procurator of the CCB.Chimimport intends to directly participate in the bidding for all the 32.2%, which the Bank Consolidation Company (BCC) holds in CCB. Such intentions were expressed by Emil Kyulev as well - three months ago ROSEXIMBANK deposited a letter at the BCC, stating its interest towards BCC's shares in CCB. In the beginning of this year EUROBANK also declared its willingness to buy BCC's package in CCB.

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