PAYOUT OF GUARANTEED DEPOSITS WITH CORPORATE COMMERCIAL BANK WILL START FROM 4 DECEMBER 2014

The Bulgarian Deposit Insurance Fund (BDIF) will begin paying out the guaranteed deposits to depositors with Corporate Commercial Bank (KTB) no later than 20 business days after the licence of Corporate Commercial Bank was revoked, announced BDIF in a press release on its website on 6th of November.

“BDIF repays in full guaranteed deposit amounts of Bulgarian and foreign physical persons and legal entities up to BGN 196,000 (EUR 100,000) for a depositor, regardless of the number of his/her accounts with the bank. The guaranteed sum includes the principal and the interest accrued as of the date of license revocation. Deposits in foreign currency are repaid in Bulgarian levs, recalculated as of the initial day of payout”, the press release says.

“As of the initial day of reimbursement, 4 December 2014, guaranteed depositors with KTB will have access to the full amount of their reimbursable sum. For reimbursement, depositors shall report in person at their designated servicing bank, where they shall present an ID (for natural persons) and shall dispose of their funds. Depositors may withdraw their money in cash, order a transfer to another bank, or place it in an account with the servicing bank”, BDIF assures.