Varna District Court approved the reconstruction plan for the Shipyard plant, offered by the British company Camel leard holding. The Court rejected the objections of the creditors of the declared in insolvency plant. Among them are Bulgare Martimare Navigation, Delfin 1, Bulcom trading, Central Cooperative Bank and other smaller companies. Camel leard holding is engaged to invest totally USD 10 million for 5 years. It will also pay off a part of the debts of the plant to the creditors in amount of BGN 28.6 million.
Source: Standart (02.01.2001)

Another 3 banks signed frame contracts with the Ministry of Finance for servicing the budget. The new banks are United Bulgarian Bank, Biohim and Municipal Bank. Thus their total number becomes 17. In the end of the last year the Ministry of Finance dealed a contract with Bulbank, Bank DSK, Hebrosbank, Expressbank, Economic and Investment bank, Promotional bank, Unionbank, Rosseximbank, Trade bank Bulgaria-invest, Central Cooperative Bank, First East International Bank, Raiffaisenbank-Bulgaria, First Investment Bank, Corporate bank.
Source: Sega (04.01.2001)

Trema and Arkus are factories from the former military complex. They were establish with credits from Teximbank over the standard scheme with participation of the former State Fund for Reconstruction and Development. Thus the bank uses resources from the fund and gains profit from the higher interest rate but on the other hand the whole credit risk is for the bank.
Source: Capital (14.01.2001)

Agricultural Fund Zemedelie transferred and endorsed a stake of 32.55 per cent of its shares in Central Cooperative Bank to the Bank Consolidation Company JSC - Sofia, which will be authorized to sell it. The State will increase its participation in Bank Consolidation Company JSC - Sofia with the amount of the transferred stake.
Source: BTA (09.02.2001)

One of the biggest re-insurance companies in the world - Muenich Re will buy within a month another 7 per cent of Orel G holding JSC and will possess the blocking quote of about 27 per cent in it, according to a decision of the General Meeting. At the Meeting was decided the capital to be raised up to BGN 22.5 million with an issue of 7.5 million new shares with face value BGN 1 per share.
Source: Dnevnik (26.02.2001)

On insistance of Bank supervision Teximbank was compelled to review its claim from Trema JSC. It is about a credit granted in 1994 with funds of State fund for reconstruction and Development on which the military company still owes the bank about USD 1.3 million. This debt was discussed very much over the last months since the companyrefused to pay it and even threatened Teximbank with court actions.
Source: Capital (26.02.2001)

The cooperation Gumza became a reason for a scandal between Central Cooperative Bank JSC and Corporate Bank JSC. All shares from Central Cooperative Bank JSC, a property of the cooperation are lodged before Corporate bank JSC. The obligation of Gumza to the bank is in amount of BGN 2.5 million.
Source: Banker (19.03.2001)

Slovak fund Istrocapital is on its way to postpone the deal for the sale of Central Cooperative Bank (CCB). Within 2 months will be finalized the transfer of Eurobank in which the fund holds over 80 per cent from the capital, to its new owner - a consortium of 5 western financial institutions. The Executive Director of Eurobank Mr. Roman Fechik explained that if there had not a clearness for the sale of CCB, the Slovak fund would retract its offer. In the beginning of March Istrocapital sent a letter for its intentions to the Executive Director of Bank Consolidation Company - the Deputy Prime Minister Mr. Petar Zhotev.
Source: Monitor (26.03.2001)

Fison Invest JSC is negotiating with the creditors of Varna Shipyard, announced the chairman of the Board of Directors of the Swedish company Mr. John Bernstriom. "We are ready to take into consideration all obligations of the shipyard towards the creditors. We will find a way to satisfy their demands", Mr. John Bernstriom said. He refused to give more details with which creditors are they in negotiations. According to unofficial information they are the three of biggest creditors - Parahodstvo BMF, Central Cooperative Bank and the floating private ship-repairing dock Delfin. If today the Appeal Judges do not approve the healing plan and Kamel Leard refuses to appeal at the Supreme Cassation Court the factory will be declared into bankruptcy. In this case the assets of the company will be drawn cash for debts. There may be a deal with an investor for the whole company . But first there have to be a General Meeting of the creditors and to be chosen a method for market evaluation of the property. - explained the assistant of the supervisor Dimiatr Smilenov. According to juridical experts a procedure of this sort will take at least 6-7 months. " The Swedish will not agree to buy pats of the factory. Their aim is the shipyard as a whole". Explained the lawyer of Fison Invest JSC Menko Menkov. The working team of the Swedish company ready to start the modernization of the powers right a way. The Bulgarian directors of the shipyard assured the Swedish that the company could be in exploitation within two months if there is an initial investment of USD 5-10 million. In the business plan of Fison Invest is implanted the construction of two ships for 850 and 1250 passengers at total value of USD 400 million.
Source: Dnevnik (27.03.2001)

Corporate bank has already been an owner of 19.41 per cent from the capital of Central Corporate Bank (CCB) when on the block segment of Bulgarian Stock Exchange were transferred 3 177 472 shares, a property so far of Gumza - Suhindol. The total amount of the deal is about BGN 1.9 million. The wine company lost its shares when it stopped to service the credit of BGN 2.5 million, as a compensation on which were pledged the shares. The first contribution had to be paid off in the beginning of March but it did not happen. In Corporate bank are pledged more 4.6 per cent from CCB, property of Fininvest.
Source: Dnevnik (03.04.2001)

The General Meeting of the Bank Consolidation Company (BCC) decided to increase its capital from BGN 20.7 million to BGN 25.9 million and will contribute in it shares of Central Cooperative Bank with a total face value of BGN 5.2 million.
Source: Banker (09.04.2001)

The management of Tokuda Credit-Express will be officially taken on April 17. Chief Executive Director of the bank becomes the former Minister of Finance and former Director of Central and Cooperative Bank (CCB) Mr. Stoyan Alexandrov. For Executive Directors were defined other two famous bankers - Mr. July Popov also from CCB and Mr. Assen Drumev from DSK Bank. Major shareholder in the bank is Torao Tokuda who started the building of Japanese hospital in Sofia.
Source: Standart (17.04.2001)

Corporate bank deposited officially statement in Bank Supervision of BNB with demand to be allowed itself to take 19.41 per cent from the shares of Central Cooperative Bank. This is the share of LVK Gumza-Suhindol that was acquired by the Corporate bank as a compensation from not paid back credit by the winery. Since the stake of shares is over 10 per cent of Central Cooperative Bank, the new owner is obliged in accordance with the law to require officially from BNB a license for possession of shares in a deadline of 1 month.
Source: Pari (23.04.2001)

LVK Gumza - Suhindol transferred the property on two shops in Sofia in favour of Central Cooperative Bank as a payment of a part of its debts. The bank has receipts of more than BGN 8 million from the company. Against the two shops the bank accepted to write off BGN 2 million from its receipt. The bank has already started to look for buyers for the shops.
Source: Capital (07.05.2001)

During April ten people have used the opportunity to pay their heath bills through bank automat, while during the past ten days of March when this service was offered for the first time their number was nine. Today this service is offered by some of the bank automats of nine banks Bank DSK, Purva Investiciona Banka, Obshtinska Banka, Raifaizen Bank /Bulgarioa/, Roseximbank, CCB, Biohim, Stopanska Investicionna Banka and BNB.
Source: BTA (08.05.2001)

The Board of Directors of Bank Consolidation Company postponed for consecutive time its decision for sale of Biohim bank, announced after the meeting the Deputy Prime Minister Mr. Petar Zhotev who is Executive Director of BCC. On March the Board of Directors was not pleased with the price of the sole candidate-buyer - Hebrosbank that then increased its initial offer with EUR 700 000. On May 8 Hebrosbank submitted a third approved offer that is going to be analyzed. Most probably the Board of Directors of BCC will have a meeting next week at which is expected the final decision for Biohim. Biohim reported a profit of BGN 9 million for April before taxation.
Source: BTA (09.05.2001)

BNB issued a license to the Corporate bank to possess 19.41 per cent of the shares of Central Cooperative Bank (CCB). The shares were acquired by LVK Gumza - Suhindol because of unpaid credits. It is known that Corporate bank has already declared its share in CCB for sale. However the decision of BNB will allow the bank to take part in the General Meeting of CCB that will take place on June 28.
Source: Capital (11.06.2001)

Bank Consolidation Company (BCC) is preparing a strategy for privatization of Central Cooperative Bank (CCB), declared the Executive Director of the holding Mr. Petar Zhotev. The State holds 34 per cent of the capital of the bank. Corporate bank holds 19.43 per cent and Fininvest - 4.6 per cent. The shares are pledged in Corporate bank and their possessors declared that would sell the shares to a buyer, selected by BCC. BNB recommended an increase of the capital of Central Cooperative Bank from BGN 20.7 million to BGN 25 million which will raise its price. Reifaisenbank, the Czech fund Istrocapital and the investment agent Hedger took interest in the bank.
Source: Standart (12.06.2001)

Central Cooperative Bank (CCB) finished 2000 with a profit of BGN 47 000, was reported from the bank. Probably it will not be distributed as a dividend but will be used for provisions. The final decision will be taken by the shareholders at the General Meeting of the bank on June 28. Then will be decided how to be privatized the bank. Bulgarian Consolidation Company (BCC) possesses 32.77 per cent of the capital of the bank. According to Mr. Zhotev it is possible the bank holding to make a consortium with any of the rest shareholders in CCB in order to be reached a major share. For the share will be searched for a strategic investor and in this way the price of the bank will increase.
Source: Monitor (13.06.2001)

Bank Consolidation Company (BCC) and Corporate bank agreed for decisions at the forthcoming on June 28 General Meeting of Central Cooperative Bank (CCB). This was announced by CEO of Corporate bank Mr. Tzvetan Vassilev who took part in the meeting of the Board of Directors of BCC. According to the Executive Director of BCC Mr. Petar Zhotev there is no any signed contract for such activities. Corporate bank possesses 24 per cent of the shares of CCB and has interest to sell them in cooperation with BCC that has 33 per cent of the shares. Mr. Zhotev thinks that the statute of CCB has to be changed.
Source: BTA (21.06.2001)

Bank Consolidation Company (BCC) will sell its shares in Central Corporate Bank after the General Meeting of the bank that was appointed for June 28. This became clear after the meeting of the bank holding. According to the CEO Of Corporate Bank Mr. Tvetan Vassilev was reached an agreement for joint actions between BCC and the managed by him bank. The Deputy Prime Minister Mr. Petar Zhotev denied the existence of a signed document for such a dealing.
Source: Standart (22.06.2001)

A green light was given to the projects of the American companies AES and Entergy for Marica-Iztok 1 and 3. The first one could be a problem for the State and NEC. This week starts the barter for export for Yugoslavia and Kosovo for the return of the used nuclear fuel of APS Kozlodui in Russia. This type of deals give a lot of opportunities for destination of financial means in the "right" direction. Two days before the elections it was announced that NEC is withdrawn of the lists form healing and they received a free access to bank credits. During the last few months of the government were released the auctions for construction of some parts of Gorna Arda. This predetermines that the complex will be built although there still are arguments whether there is use of it or not. It is not a fortuity that a conflict for legality of an auction occurs and Minstroy initiates an proceedings against NEC.
Source: Capital (24.06.2001)

The General Meeting of Central Cooperative Bank (CCB) voted changes in the statute of the bank and turned from one-tire to two-tire system of management. The Supervisory Board will have three members with a mandate of 3 years. They will represent the biggest shareholders of the bank - Bank Consolidation Company (BCC) that holds 32.77 per cent of the shares, Central Cooperative Union (CCU) - with 23.45 per cent and Corporate bank - with 19.65 per cent. The shareholders voted the whole profit of BGN 47 000 for 2000 to be referred to Reserve fund. The gross profit was BGN 5.4 million. The biggest is the share of the provisions on credits provided to Lazaro-vinarska kooperatzia Gumza and connected with it entities - BGN 3.03 million and the amount of its credits is BGN 9.3 million.
Source: BTA (29.06.2001)

The Deputy Governor of BNB Ms. Emilia Milanova was authorized by the Bank Consolidation Company (BCC) to represent the State in the first meeting of the new Supervisory Board of Central Cooperative Bank, was reported from BNB. At the meeting has to be selected the membership of the Board of Government of CCB. The bank holding enters the Supervisory Board of CCB as a legal entity. BCC holds 32.77 per cent of the capital of CCB. The intention of the bank holding is in consortium with the shares of Corporate bank in CCB to look for a strategic investor for the bank.
Source: Monitor (03.07.2001)

Corporate bank wants collaboration with the Central Cooperative union to sell their shares in CCB which are 24,28 per cent. CCU holds 23,45 per cent from the funds of Cooperative bank. The need of combined sell of shares comes from the desire of the applicant buyers to hold more than 51 per cent. As applicant buyers are pointed Rajfajzenbank , Eurobank and TIM. Corporate bank tried to sell its share in August 2000. The price per share is BGN 0.75 .
Source: Dnevnik (04.07.2001)

The investigation against Dimitar Dimitrov Shashmata, Pavel Trenev and five other officials from CCB finished with an opinion from the Court. During the period April-May 1995 Mr. Dimitrov and Mr.Trenev have received through the Central Cooperative Bank two transfers at total amount USD 6 million from Blond Invesment Cooporation, property of Michael Chorni and Joseph Karam. Michael Chorni has sent the money at two transfers from USD 3 million. Half of the money entered companies from the Orion Group. Pavel Trenev was arrested in Sofia in April after five years investigation. Dimitar Dimitrov was extradited from Venice last year. The other defendants in the case are five officials from CCB: Mr. Trayan Kashutski, Mrs Irina Mihaylova, Mrs Maria Dimova, Temenugka Galova-chief accountant and the executive manager Georgi Georgiev.
Source: Pari (05.07.2001)

Corporative Bank has found purchaser for about 9.9 per cent of its shares in the Central Cooperative Bank. It possesses 24.28 per cent of CCB. In Thursday at the block segment was registrated deal with 1.6 million shares which equals 9.9 per cent. The price was BGN 0.65 and Cooperative Bank received BGN 10.4 million.Mr. Rumen Liotskanov, chairman of the Supervisory Board of Cooperative Bank, explained that purchaser of the shares is Intermediory Agent Fina-S. According to Mr. Liotskanov after this purchase Cooperative Bank has reached the level of capital adequecy. Its capital has fallen under the minimum. Bank Supervision has given it four-month term for rising its capital base. "We do not need the shares because we are not interested in managing CCB," added Mr. Liotskanov. According to him the shares were saled to the first purchaser who paid for them.
Source: Dnevnik (06.07.2001)

Mr. Pancho Ivanov will be a Chairman of the Supervisory Board of Central Cooperative Bank. The members of the Supervisory Board did not select a new Board of Government of the bank because the changed statute was not still registered in the Court.
Source: Capital (09.07.2001)

The minister of economics Mr. Petar Ziotev as choosed as State inspector for the cannery Mizia in Polski Trambesh. The desire of the employees is the minister to be interested in the problems of the factory. The problems in Mizia started from 1998 , when the cannery dtopped working because there were no money. In April 2000 the company started negotiatins with English company to make a joint-ventured company.
Source: Yantra - Veliko Tarnovo (11.07.2001)

In a few days one of the biggest free-zones - Bourgas will hold a general meeting. In December 1999 was the last general meeting on which the program for development was accepted. Against this voted the State , which was represented by the Ministry of Finance as the major shareholder. Its motive was that a negotiations with the EC are hold and this excludes the need of free-zones. The free-zone in Bourgas is formed in 1989 with a fund of BGL 2 millions.
Source: Dnevnik (12.07.2001)

Corporate bank will sell its whole share in the Agricultural bank. Rosseximbank bought 9.9 per cent of Central Cooperative Bnak through a block deal, registered on Bulgarian Stock Exchange. The shares were sold by the investment agent Fina-S for BGN 0.70 per share and the agent bought them from Corporate bank 3 weeks ago. After the sale on Friday the share of Corporate bank in CCB reduced to 14.38 per cent.
Source: Dnevnik (30.07.2001)

The members of the Supervisory Board of Cooperative bank entered in argument, during the choice of Board of Directors of the bank. The chairman of the Board Mr. Pantcho Ivanov and Ms. Rada Hristova proposed the Board to have 6 members (two from each of the companies that have shares in the bank). Ms Emilia Milanova said that this is no needed because two of the three companies have only 15 per cent of the bank and there is no need they to have 2 members in the Board of Directors.
Source: Banker (30.07.2001)

Energia JSC - Turgovishte informs its shareholders that within October 27, 2001 in the branches of Central Cooperative Bank will be distributed a dividend for 2000, voted at the General Meeting.
Source: Sega (02.08.2001)

The Finance minister Mr. Milen Veltchev appointed Mr. Atanas Dobrev as representative of Bank Consolidation Company in the Supervisory Board of Central Cooperative Bank. The official appointment will be today during the meeting of the Supervisory Board of Central Cooperative bank.
Source: Monitor (03.08.2001)

New Government Board of the Central Cooperative Bank JSC elected the Supervisory Board of the Bank announced Prof. Alexander Vodenicharov. It members are also Georgi Konstantinoiv, Valeria Antonova, Georgi Tabakov andd Ivo Goranov. For a chairman of the Government Board is elected Prof. Alexander Vodenicharov, and executive directors are Georgi Konstantinoiv and Valeria Antonova
Source: BTA (06.08.2001)

The Minister of Finance Milen Belchev is the new representative of the Board of Directors of Bank Consolidation Company/BCC/. Yesterday finished all procedures over the court registration of the changes in the management of BCC, announced from the Ministry of Finance. Mr. Milen Velchgev takes the management of BCC from the former Minister of Finance Mr. Muravei Radev. The next General meeting of BCC is set down for the middle of September.
Source: Standart (09.08.2001)

One of the best wine cooperation in Bulgaria - LVK Gumza in Suhindol is on the verge of a bankruptcy. The cooperation owes over BGN 20 million to banks and private producers and only the unpaid amounts to the producers of grape for the last year exceed BGN 2 million. At the moment the company needs about BGN 2-3 million to buy grape from the new harvest since nobody wants to sell without preliminary payment. The workers have not taken their salaries for 3 months now.
Source: Dnevnik (28.08.2001)

Valve Engineering was privatized in the autumn of 1999. 80 per cent of it are property of To-Top-Todor Topalski SP and 20 per cent - of the municipality. According to the privatization contract over the upcoming month these 20 per cent would be acquired by the private company. Yesterday was opened officially the work-shop in Valve Engineering. The hall is equipped with the most modern technics of the German company Tisen with which is guaranteed the manufacture of the most qualified PVC woodwork in Vratza. The equipment was taken on leasing with a credit of DEM 25 000 from the branch of Central Cooperative Bank in Vratza.
Source: Shans Express Vratza (30.08.2001)

The group TIM, Varna submitted through Himimport an offer for the purchase of Demirbank. During the week Rosseximbank sold totally 14.4 per cent from the shares of Central Cooperative Bank to the off shore company Otornio Investments Limited that is connected with TIM and to the German company Bulhimex whose owner is Himimport.
Source: Banker (01.09.2001)

Already three years the Varna Shipyards are not constructing ships. Three ships are reconstructed at the moment in the shipyard, more than 60 were reconstructed for the past two years. Since the beginning of the year at the shipyard were reconstructed 29 ships. The plant is ready for construction. The seven ships which were in the shipyard when the procedure for bankruptcy started are in different stages of readiness. They are part of the assets of the factory and cannot be finished or sold.
Source: Black sea (10.09.2001)

Companies from the Group of the TIM were registered as shareholders in Central Cooperative Bank (CCB). In the official bulletin of the exchange was announced the transfer of 8.2 per cent of the shares of CCB to the Bulhimex company - Germany, which is a subsidiary company of Chimimport, controlled by TIM.
Source: Capital (10.09.2001)

Four ministers will enter the management of Bank Consolidation Company. This decision was made by the shareholders of the holding at a General Meeting yesterday. The new directors are the Deputy Prime-minister Mr. Nikolay Vasilev, Mr. Kostadin Paskalev, Mrs. Lidia Shuleva and the Minister of Finance Mr. Milen Velchev. The fifth member of the Board of Directors becomes the member of BNB Mr. Svetoslav Gavriyski. On 5 November will take place a new General Meeting of BCC. On it will be made a proposal the Board of Directors to be enlarged from 5 to 7 members. For new members will be offered the Deputy Minister of Finance Mr. Krasimir Katev and |Mrs. Neli Kordovska who will become an Executive director. Temporary an Executive director will be the Deputy Prime-minister Mr. Nikolay Vasilev. After the General Meeting of BCC took place the first meeting of the Board of Directors. On it was decided the participation of BCC in the General Meetings of and the Supervisory boards of State Saving Company DSK, Biochim Bank and Central Cooperative Bank.
Source: Standart (18.09.2001)

The group of companies, related with Mr. Emil Lujlev and Varna group TIM have already had a full control on Central Cooperative Bank. After series of exchange operations over the last months with the brokerage of Rosseximbanj, off-shore companies, connected with TIM managed to buy about 30 per cent of the cooperative institution. One week ago they also received the control on about 23.5 per cent of the shares of Central Cooperative Bank that have so far been held by the Central Cooperative union.
Source: Capital (01.10.2001)

BNB allowed to Eurobank to purchase 55 per cent of Central Cooperative Bank. BNB gives the bank the opportunity to participate in the procedure for purchasing of the shares of Bulgarian Consolidation Company which form 32.2 per cent of the capital of Central Cooperative Bank. Eurobank is interested in the purchase of CCB and is among the serious applicants for deal. The TIM group from Varna will also participate in the auction. Eurobank is ready to participate in the programme for granting of microcredits in the regions with high rate of unemployment. Eurobank grants credits to the small and medium size business. The credits are in amount of less than BGN 250 000.
Source: Standart (09.10.2001)

The supervisory Board of Central Cooperative Bank made significant changes in its management. The members of the Board of Management became seven instead of five. From the Board was released the Executive Director Mrs. Valeria Antonova. Her position was occupied by Mr. Genadi Tabakov. Three new members of the Board of Directors were elected: Mr. Kamen Genov, Mr. Tzvetan Botev and Mr. Alexander Kerezov. For a prosecution officer of the bank was elected Mr. Tihomir Atanasov.
Source: Banker (15.10.2001)

The Russian oil company LUKoil takes interest in the privatization of Bulgarian bank sector and in the gas monopolist Bulgargas, declared the General Director of LUKoil Bulgaria Mr. Valentine Zlatev. According to him a structure of such a scale needs own bank that will service the financial operations of the group. Mr. Zlatev did not hide the opportunity of participation in any of the banks and one of the alternatives for this is the upcoming privatization of Biochim. The intentions of the Government are within the end of the year the bank to be sold. He denied the alternative LUKoil to be a candidate for the state-owned share in Central Cooperative Bank.
Source: Dnevnik (17.10.2001)

United Bulgarian Bank and LUKoil Bulgaria signed a contract for loan of EUR 12 million. The funds will be used for enlargement of the chain of petrol stations of LUKoil in Bulgaria.
Source: Dnevnik (24.10.2001)

Bank Consolidation Company will send within a few days letters to the potential investors, interested in sale of Central Cooperative Bank. Bank Consolidation Company has already chosen the method through which will be sold the bank - at an auction with secret bidding. The deadline for applying the offers for the purchase of 32.77 per cent of Central Cooperative Bank is not announced yet. Among the most serious applicants are Eurobank, First Investment Bank and Rosseximbank.
Source: Standart (26.10.2001)

The agenda of the Extraordinary Meeting of Bank Consolidation Company envisages to be taken a decision for increase of the members of the Board of Directors from 5 to 7. The two new members are the Deputy Minister of Finance Mr. Krassimir Katev and the prosecutor of the bank holding Ms. Nelly Kordovska. Most probably she also will be selected for executive Director of BCC. According to the statute of the bank company for a Chairman of the Board will be appointed the Minister of Finance. A week ago the Board of Directors of BCC started a privatization procedure of Central Cooperative Bank.
Source: Monitor (05.11.2001)

10 preliminary productions and 14 subscriptions were initiated on the report of National office Security for the corruption, was reported from the Supreme Cassation Prosecutor's Office. Among the subscriptions there are six prosecutions against officials from Balkan Universal Bank. (Vasil Ninov)
Source: Sega (12.11.2001)

Eurobank and Rossexim performed privatization research in CCB. The research of Eurobank was accomplished last week and the research of Rossexim - yesterday. Tomorrow expires the deadline for applying of offers for the state share of Bulgarian Consolidation Company in Central Cooperative Bank, which is 32.77 per cent. Yesterday in the Supervisory Board of the bank was accepted Chimimport. From the Board was released the representative of Corporative Bank - Mrs. Radka Iosifova.
Source: Standart (23.11.2001)

At today General Meeting of the Board of Directors of Bank Consolidation Company(BCC) will be offered Chimimport to be selected for a preferred buyer of the share of 32.77 per cent of BCC in Central Cooperative Bank. In this way the foreign trade company will possess totally 60 per cent of the capital of the bank and will control another 28 per cent that are property of the Central Cooperative Union. The price of the stake of shares is BGN 6 million or BGN 1.13 per share which according to the bankers is quite expensive.
Source: Dnevnik (30.11.2001)

The Board of Directors of Bank Consolidation Company (BCC) decided to sell its share in Central Cooperative Bank (CCB) to the sole candidate-buyer Chimimport. The state-owned share in CCB is 32.77 per cent of the capital. On November 23 expires the deadline for submission of offers for the share. Chiimport offered a price of BGN 6 million for the share of the bank holding in the bank. Within several days the buyer has to present officially its documents in BNB.
Source: BTA (03.12.2001)

Central Cooperative Bank is the most active creditor for Agriculture Fund with amount of the credit of USD 2.4 million since the beginng of the year. The Executive Director of the Bank announced that for the two years of work with the Fund the Bank has acccumulated bad credits in amount of 10 800. The management of the bank is sure that the credit will be soon returned as it is guaranteed with a quickly liquidatable real estate. According to the Executive Director, the State has to support the agriculture up to a certain stage then the risk should be taken by the trade banks.
Source: Maritsa (19.12.2001)

Ten years after it was established, Central Cooperative Bank has assets in amount of more than BGN 230 million. The attracted finances of the bank from non-financial institutions as for 30 November are BGN 131.25 million. The profit of the bank for the 11-th months of the year is BGN 2.8 million. The shareholders' equity of the is nearly BGN 30 million and shows a growth of BGN 28.6 per cent as compared to the end of November 2000.
Source: BTA (20.12.2001)

The capital of Sever holding JSC - Veliko Turnovo increased from BGN 480 660 to BGN 780 660 as the company issued 300 000 new shares with issue price of BGN 1. The name of Sever holding became famous in 1999 when 6 brokers stole 70 million non-denominated levs from shareholders in the holding and Severokoop Gumza holding. In the fraud also were interfered brokers from Central Cooperative bank and from North investment.
Source: Dnevnik (20.12.2001)

The foreign trade company Chimimport that is the new owner of Central Cooperative Bank will make some changes in its strategy for development and particularly in its restructure to new sectors. The new shareholders will contribute for speeding up the positions of the bank in the field of agriculture, chemical industry and foreign trade. The activity of Chimimport is pointed exactly to these branches. The bank expects to finish the year with a profit of BGN 3 million.
Source: Dnevnik (20.12.2001)