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SOFIA, July 11 (Xinhua) -- Bulgarian National Bank (BNB), the country's banking system watchdog Cheap Cody Parkey Jersey , on Friday said it was looking to suspend the license of the Corporate Commercial Bank (CCB) and nationalize its subsidiary Credit Agricole-Bulgaria (CAB).
The request was based on the results of an independent audit, which began on June 25 after CCB's liquidity had been depleted. The bank suspended all operations, and CCB and CAB were placed under conservatorship.
The latest conclusions regarding CAB were positive, BNB's governing council said in a statement.
"This is a well-managed bank with good banking practices. The loan portfolio is very good, its necessary provisions are of a sufficient level," it said.
However, the results of the audit of CCB showed actions incompatible with the law and standard banking practices Cheap Taylor Gabriel Jersey , the statement added.
Substantial parts of the credit records for a credit portfolio amounting to 3.5 billion BGN (2.43 billion U.S. dollars) were missing, and were more likely to have been destroyed in the days before the conservatorship, the statement said.
The total loan portfolio of CCB was 5.4 billion BGN, it said.
BNB and the Bulgarian government plan to nationalize CAB, transfer all "good" assets and liabilities of CCB to CAB and get the government to provide "absolute liquidity support" to the state-owned CAB, which would be renamed, the statement said.
Furthermore Cheap Allen Robinson II Jersey , the license of CCB would be suspended, and its declaration of bankruptcy would begin, BNB said.
"All this will be possible after the adoption of a special law, which has already been prepared and will be presented today to the main parliamentary forces," the statement said. (1 U.S. dollar = 1.44 BGN)
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