August 22, 2014 / 12:31 PM / in 3 years

Bulgaria asks for Corpbank rescue plans by end-August

SOFIA, Aug 22 (Reuters) - Bulgaria’s central bank has asked the two biggest shareholders of troubled Corporate Commercial Bank (Corpbank) to present plans for the bank’s rescue by the end of this month.

The central bank said it had sent letters to the two shareholders on Friday, adding their proposals should be in line with national and EU legislation.

Bulgarian company Bromak, owned by businessman Tsvetan Vassilev, owns just over half of Corpbank. Oman’s sovereign wealth fund is the second-biggest shareholder with a stake of about 30 percent. (Reporting by Angel Krasimirov; editing by Jason Neely)

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