Greek crisis poses no threat to Bulgarian lenders – central bank

Bulgarian banks were not at risk to suffer any negative fallout from a crisis in Greece, the Bulgarian National Bank (BNB) said on April 20.

Lenders owned by Greek banks had long ago divested any Greek government bonds, the central bank told Bulgarian National Radio (BNR), commenting on a media report that appeared earlier in the day, claiming that the BNB “politely asked” that Bulgarian banks liquidate any bond portfolios or deposits that might lead to financial losses in case Greece left the euro zone.

Banks operating in Bulgaria are not required to sell any Greek bonds or equities, nor withdraw deposits, because they have not held such assets for some time, BNB said.

To read the full story, click here.

(Photo: Clive Leviev-Sawyer)