The Central Cooperative Bank starts offering debit cards for non-cash payments by the end of January. The cards are compatible with the national system for non-cash payments "Borika".
Source: Other (02.01.1996)

The bank system for non-cash payments "Borika" will be transformed into a joint-stock company. Instead of affiliation fees the banks will buy bankomats. So far only the United Bulgarian Bank is granted a license for distributing the bank cards "Borika". The Central Cooperative Bank, First Investment Bank and the State Savings Bank have also applied for licenses.
Source: Pari (04.01.1996)

A 'National Cooperative Privatisation Fund" was established with the purpose to facilitate the participation of the members of the cooperative unions in the mass privatisation process, said Ilian Shotlekov CEO of the fund. Shareholders of the fund (registered capital BGL 10 mln) are the Central Cooperative Union with a stake of 80 per cent, the Central Cooperative Bank - 10 per cent and "Selena" JSCo.
Source: Other (11.01.1996)

The Board of Governors of the Bulgarian National Bank granted the "Central Cooperative Bank" a license to issue debit cards. The operations will be executed through the network of the national operator for non-cash payments "Borika".
Source: Standart (26.01.1996)

The privatisation funds "Sever" (North) and "Yug" (South) have signed a written statement for joint participation in the mass privatisation. Chairmans of the funds are Ilian Shotlekov and Stoyan Alexandrov respectively. Founders and major shareholders of both privatisation funds are the Central Cooperative Union, Central Cooperative Bank, and the Central Cooperative Investment Fund.
Source: Other (28.02.1996)

Central Cooperative Bank will end the financial 1995 with no loss, said Mr. Stoyan Alexandrov Chairman of the Board of Directors of the bank. The general meeting of the shareholders of the bank that is to be held in April will discuss the acceptance of new shareholders. The Italian bank Agricole Mantovana has shown interest in participation in the capital of Central Cooperative Bank.
Source: Standart (04.03.1996)

The Central Cooperative Bank reported loss in 1995 amounting to BGL 643 million at the general meeting of the shareholders held on May 8th. The shareholders made the following amendments to the Statutes of the company: each registered share will from now on give the right of one vote and the proportion between the voting and non-voting stock will be set at BGL 900 million to BGL 100 million respectively. The paid-in capital of the bank amounts to BGL 510 million and its total assets to BGL 9,102 billion. The Central Cooperative Union, which holds more than 50 per cent of the voting stock of the bank remains its major shareholder.
Source: Kontinent (09.05.1996)

The members of the Agricultural Association of the town of Rousse suggested that the investment fund Zenit buys up storehouses and store equipment. There are suggestions for cooperation with the Central Cooperative Unity and the Cooperative Bank.
Source: 24 chasa (28.05.1996)

The Central Cooperative Bank asked for a permission from the liquidators of the Bulgarian Agricultural and Economic Bank to start a check of the whole documentation of the financial institution, which is in liquidation. The Bulgarian Agricultural and Economic Bank reported a profit for 1995, which amounts to BGL 17,5 million and now the bank declares losses, which amount to more than BGL 100 million, without calculating interests on the deposits. The granted credits are nearly BGL 90 million.
Source: Other (26.06.1996)

The management of the Central Cooperative Bank refused to sign a memorandum for agreement with BNB. The Economic bank and Balkanbank also delayed the signing, because they expect special rehabilitation measures.
Source: Kontinent (01.07.1996)

The Board of the Governors of BNB canceled the restriction for the the granting of credits by the commercial banks for the financing of the autumn sowing. Probably money will be granted by the Central Cooperative Bank JSC, United Bulgarian Bank JSC, Hebrosbank JSC, Expressbank JSC and Post Bank JSC.
Source: Pari (11.10.1996)

"Post Bank" JSC, "Central Cooperative Bank" JSC and "Expressbank" JSC are elected to allocate between the small and medium businesses ECU 7 million, which are received according to the PHARE programme. The money may be spent only for the financing of export-orientated productions.
Source: Pari (17.10.1996)

The European Bank for Reconstruction and Development granted a credit of USD 10 million to the private company "Astera" JSC. The money will be granted in a 5 year's term, with 1 year gratice period. The first tranche is expected till the 20th of November 1996 and will amount to USD 500,000. With this credit the company will pay its debts to the Central Cooperative Bank and will secure money for the execution of its business plan.
Source: Pari (24.10.1996)

The account of the Central Cooperative Bank in the BNB will be blocked in the next few days in order to be secured the claim of the company of the businessman Michael Chorney "Blond Investment Corporation". The principal on this claim amounts to USD 846,000.
Source: 24 chasa (12.11.1996)

The Prosecutor's Office has opened a law suit against official entities from the Central Cooperative Bank, who have allowed that the money of the Russian businessman Michael Chorney serve as main capital of the Bulgarian Agricultural and Industrial Bank. These people are accused in big embezzlements.
Source: Pari (14.11.1996)