Four candidates to acquire Commercial Bank Victoria

The companies interested to acquire 100% of Commercial Bank Victoria, a former subsidiary of Corporate Commercial Bank are Vabo Internal which belongs to local businessman Vasil Bojkov, two locally-owned banks - Investbank and Bulgarian-American Credit Bank and a consortium of Kerbler Holding, Imfarr Beteiligungs and Green Finance. Please recall that this is the second attempt to sell the bank since Corporate Commercial Bank declared insolvency, after the Bulgarian National Bank did not allow D Commerce Bank to proceed with the acquisition, due to its intended strategy. Q1’17 financials of CB Victoria show BGN 950k net loss, BGN 458k net interest income and BGN 35.3m equity.