we are partners with our clients

Investbank AD signed an agreement with the syndic of Corporate Commercial Bank AD (in insolvency) for acquiring 100% of the shares of Commercial Bank Victoria EAD.

April 17, 2018

On 16 April 2018 Investbank AD signed a framework agreement with the syndicate of Corporate Commercial Bank AD (in bankruptcy) for acquiring 100% of the capital of Commercial Bank Victoria and the entire exposition of the sole owner of its capital.

The agreement was signed under a statutory procedure opened by the Management Board of the Bulgarian Deposit Insurance Fund (BDIF) with decision of June 29, 2017. At its meeting held on March 26, 2018, BDIF approved Investbank AD as a buyer , whose offer was accepted by the syndic of Corporate Commercial Bank  AD (i). On 08.03.2018, the Governing Council of the Bulgarian National Bank took a decision approving the acquisition by 100% of the shares of  Commercial Bank Victoria EAD by Investbank. Approval by the Commission for Protection of Competition is also forthcoming. After the acquisition, the merger of Commercial Bank Victoria into Investbank AD is envisaged, which will lead to an increase of the balance sheet assets.