The country’s largest holding Chimimport will provide a BGN 50mn (EUR 25.6mn) subordinated loan to Central Cooperative Bank (CCB), which is the 11 th largest bank in the country and one of the main entities in control of the holding. The loan bears an annual interest rate of 4.2% and will mature in 7 years. The bank is traded on the local stock exchange reaching a market capitalisation of about EUR 440mn as of yesterday. CCB plans to operate a capital hike of 14.3% to BGN 83.16mn though a public offering. It acquired assets of the bankrupted Bank for International Trade and Development (BITD) for BGN 9.2mn (EUR 4.7mn) in April and is in the process of taking over a 66% stake in Macedonia ’s small-sized Post Bank.
Source: Intellinews-Bulgaria Today