Borislavova purchases Tokuda Bank
The Bulgarian-American Credit Bank (BACB), in which the largest shareholder is Tsvetelina Borislavova directly and through CSIF (the Clever Synergy Investment fund) has reached an agreement to acquire the relatively small Tokuda Bank. This is clear from a message to the exchange of the potential buyer, in which neither the price nor other details were revealed.
After the publication of the information, BACB's shares jumped by 23.3% to 9 levs, giving it a market capitalization of 222 million levs.
The deal must receive approval from the Bulgarian National Bank and the Competition regulator before being finalized. The latter is rather a formality, as both banks are relatively small players with a total market share of less than 2%.
BSP, Vazrazhdane want vote of no confidence in cabinet
BSP leader Kornelia Ninova has stated that, together with Vazrazhdane, they will propose a vote of no confidence in the caretaker cabinet if President Rumen Radev does not replace caretaker Prime Minister Dimitar Glavchev.
Ninova specified that this would on account of perceived violation of the Constitution over the principle of neutrality of the official government, and suspicions of abuses and manipulation of elections.
It is not certain which parties will support the vote.
New firms openings slow down
Both the establishment of new companies and the bankruptcies of existing ones decreased in the first quarter, the National Statistics Institute reported.
Between January and March, there were 12,229 new companies, and 992 companies declaring bankrupt. Compared to the same quarter of 2023, the total number of newly registered companies decreased by 7.4%, and that of bankrupt companies - by 14.1%.
Most new companies are registered in the trade sector, the sector in which there are also the most bankruptcies.
Borislavova purchases Tokuda Bank
The Bulgarian-American Credit Bank (BACB), in which the largest shareholder is Tsvetelina Borislavova directly and through CSIF (the Clever Synergy Investment fund) has reached an agreement to acquire the relatively small Tokuda Bank. This is clear from a message to the exchange of the potential buyer, in which neither the price nor other details were revealed.
