The European Central Bank will directly supervise 5 banks in Bulgaria

The European Central Bank announced this evening, September 11, the banks that will be under its direct supervision from October 1. After assessing the significance and direct cooperation, the credit institution announced that it would monitor five banks in Bulgaria and eight in Croatia.

ECB will directly supervise the folllowing banks in Bulgaria:

Unicredit Bulbank

DSK bank

United Bulgarian Bank

Eurobank Bulgaria

Raiffeisenbank

The decision is part of the process of cooperation between the European Central Bank and the Bulgarian National Bank (BNB). It is also related to Bulgaria's entry into the waiting room of the eurozone and the Banking Union of Europe.

As of October 1, the representative of the BNB in ​​the Supervisory Board of the ECB will be the Deputy Governor of BNB, Radoslav Milenkov.

The ECB will also supervise less significant credit institutions in Bulgaria, but they will be under the direct supervision of the BNB.

The European Institution will monitor the implementation of the common supervisory standards of the Single Supervisory Mechanism. In addition, the ECB will have the right to carry out inspections in these banks as well.