A private law enforcement agent (PLEA) is once again requesting a freeze on the accounts of the Bulgarian First Investment Bank (FIB or Fibank) once the lender lost its case in the Supreme Court of Cassations (SCC). Per the Court’s… Continue Reading…
4 декември 2018
About a year and a half ago, one of the largest banks in Europe – UniCredit – unprecedentedly increased its capital to offset huge deficits due to piled up to bad credit. The cost for the Bank’s shareholders was close… Continue Reading…
23 май 2018
Europe does not want Bulgaria even in the “waiting room” for the eurozone and not before the country’s banking system goes through “the purge” of the European Central Bank (ECB) oversight. The reason is simple – bombs, such as the… Continue Reading…
FIBANK • Investigations • Leading • WIKILEAKS
29 април 2017
The accounts of the US Embassy in Sofia in FIBANK (also known as First Investment Bank, Fibank or FIB) are closed. The new service bank is DSK. This transpires from the official visa application and information page, which lists fee… Continue Reading…
Comments • FIBANK • Leading • The "Bad Apples" Banks
25 януари 2017
Disclosure of the assessment of the European Commission (EC) of the stress tests of Bulgarian banks would undermine the protection of the financial, monetary and economic policy of Bulgaria. This is what the EC refusal letter states in response to… Continue Reading…
Investigations • Leading • The "Bad Apples" Banks
26 октомври 2016
“To prepare a realistic plan for additional capital support in order to ensure the sustainability of the equity of the Bank.” This is one of the recommendations in the classified report on First Investment Bank (FIB) of “Supervision Inspection” of… Continue Reading…
Investigations • Leading • Peevski • The "Bad Apples" Banks
26 октомври 2016
There are two supervisory reports on First Investment Bank, from 2012 and 2015. BNB admits this fact in a response to questions sent by Bivol. The reports have been prepared on the basis of order №РД 22-0301/February 16, 2012 and… Continue Reading…
FIBANK • Investigations • Leading
26 октомври 2016
The State is an accomplice in the draining of capital. Half of all loans granted by First Investment Bank (FIB) are non-performing or total loss. “There is no bank in Bulgaria with capital shortage. State funds will not be used… Continue Reading…
Investigations • Leading • The "Bad Apples" Banks
26 октомври 2016
Who is behind the offshore companies, owners of ski facilities in the mountains Vitosha and Pirin? Bivol visited a suburb in Nicosia where their nominal owner Georgios Georgiou lives in the basement of a modest apartment building. The man, who… Continue Reading…
Comments • Leading
Complaint Filed in USA against Bulgarian Lawmaker, 2 Bankers for Theft of USD Millions from Failed Bank
7 февруари 2019
A complaint had been filed on November 27, 2018 with the United States District Court for the City of New York (Southern Division) by the companies Rudersdal, All Seas Property 2, Asset Management and Zahari Tomov – individually and as… Continue Reading…
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