UniCredit, Postbank, Societe Generale Attract Most Funds from Troubled CCB
The panic-driven withdrawals of deposits with the attacked in June Corporate Commercial Bank (CCB) worth a total of 1 billion levs in deposits of individuals and companies have been almost entirely transferred to other banks. This confirms the statistics of the National Bank (BNB), according to which "In June the attracted funds (excluding the two banks placed under special surveillance) increased by 944,753 thousand levs." But even the detailed information that BNB gives does not point directly to which credit institutions went the money of businesses and individuals withdrawn from Corporate Commercial Bank. The comparative analysis shows that the greatest increase in deposits - by nearly 550 million levs was generated in UniCredit Bulbank. In a television interview this week its CEO Levon Hampartsumian did not hide that a significant part of the CCB depositors transferred their funds to the credit institution managed by him.
A significant increase in the deposits - by about 240 million levs was accumulated by Postbank. The same trend, but with relatively smaller amounts - between 150 and 170 million levs was observed in the deposits from individuals and companies in Piraeus Bank Bulgaria and Allianz Bank Bulgaria. With nearly 230 million levs increased deposits in Societe Generale Expressbank.
Interesting is the situation with First Investment Bank. In late June its liquidity was also under pressure, but with the joint efforts of the C-Bank, the government and the banking system as a whole, the problem was handled almost instantly. The data show that, overall, its deposits increased by about 65 million levs. This is a slight increase compared to the total amount of deposits of 7.6 billion levs that individuals and companies have in it. However, there is another explanation: the data published by the C-Bank show that from March to June 2014 the deposits of companies in the First Investment Bank rose by nearly 410 million levs and those of citizens decreased by 350 million levs. The explanation for this can be found in the fact that during this period some companies transferred their accounts from CCB to the service First Investment Bank. One such company as is the tobacco giant Bulgartabac.