Greek bank units in Bulgaria have 'good liquidity'
Bulgarian Central Bank Governor Ivan Iskrov said on Friday the units of Greek banks in Bulgaria “have good liquidity and capital adequacy.”
Bulgaria, among other countries in Southeastern Europe including Romania and Serbia, is most directly at risk from the financial instability in the euro area because units of Greek banks control almost a third of the nation’s total bank assets, according to the European Bank for Reconstruction and Development.
“The units of Greek banks in Bulgaria are working normally, their indicators are the same as those of other banks with good liquidity and capital adequacy,” Iskrov told reporters in Sofia.
“All banks operating in the country are regulated by the central bank under the same supervision requirements.”
Moody’s Investors Service on September 23 lowered the credit ratings of Greece’s biggest lenders with subsidiaries in Bulgaria including National Bank of Greece, Eurobank EFG, Alpha Bank and Piraeus Bank, on concern whether their holdings of Greek government bonds are at risk.