Parent banks pump money in their subsidiaries in Bulgaria
24.04.2009
Source: seenews.com, FFBH
Several Tier-I banks have already received or will receive in the near future money from their parent banks to improve liquidity and capital adequacy.
EFG Eurobank Bulgaria, majority-owned by Greece's Eurobank EFG group, will raise capital by EUR 106m to EUR 232m aiming to boost its capital adequacy.
DSK Bank, part of OTP Group increased by 73% its subordinated debt by obtaining a EUR 150m loan from its parent in Q4’08. UniCredit Bulbank, part of UniCreditGroup, almost doubled its subordinated debt to EUR 107m in the last quarter of 2008 as well.
Societe Generale Expressbank, part of Societe Generale Group, increased its subordinated debt by nearly 50% to EUR 45m in Q4’08. The bank will also raise its capital by about EUR 24m to EUR 40m.