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Bulgarian state to shore up capital in Corpbank: central bank
June 22, 2014 / 2:01 PM / 3 years ago

Bulgarian state to shore up capital in Corpbank: central bank

SOFIA, June 22 (Reuters) - The Bulgarian state will inject capital into the Corporate Commercial Bank (Corpbank) and a recently acquired unit, will write off existing shareholders’ capital and withdraw shareholders’ rights, the central bank said on Sunday.

Corpbank, which was taken over by the central bank on Friday following a bank run, would reopen on July 21, the central bank said in a statement.

Reporting by Tsvetelia Tsolova and Matthias Williams

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