Banks – mothers will not stop funding to Bulgaria

In the Bank we have written assurances to banks – mothers, that they will continue to finance their Bulgarian subsidiaries. Kordovska said Nelly, Senior Director Banking Supervision at the Central Bank of the country during the official presentation of the Bulgarian National Committee on korprativno upravlenie.V answer to tight credit, higher interest rates on loans and their effect on business, Kordovska commented that The problem is not lack of resources and liquidity problems as a likely reason for all this lies somewhere else. Probable reason for all this can be sought in the reluctance of financial institutions to provide finance for businesses, given the higher risk of any deterioration in their credit portfolio. According to her, everything is happening is the result of a market economy, indicating that each bank has a policy of government. Unlike previous crises, the current is not starting from large individual fraud or irregularity, is a product of the system, said the conference Philip Armstrong, Director of Global Corporate Governance Forum, cited by BGNES. According to Armstrong, many problems arise in markets that are expected to meet government standards. He recalled that the International Finance Corporation, there will be 3 percent decline in productivity.

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Finance