Fibank Secures 130 Million Euro Investment

Bulgaria’s fourth-largest lender First Investment Bank said on Friday it had already secured 130 million euros to prop up its capital after the European Central Bank found a 262.9 million euro shortfall, reports Reuters.

The ECB carried out a comprehensive assessment on six Bulgarian banks and found capital shortfalls at First Investment Bank and another small bank that it would now help supervise, a preliminary step in Sofia’s efforts to join the eurozone.

Fibank said in a statement it would address the 133 million euros with its profit, by de-risking of its credit portfolio and other measures.

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