Bulgarian state to rescue majority of depositors at scandal-hit banking group

The Bulgarian National Bank

The Bulgarian National Bank (BNB) on Friday moved to assure citizens that their deposits will be safe in the nationalised arm of the disgraced Corporate Commercial Bank (CCB), where investigations have uncovered the apparent destruction of evidence of excessive lending to companies connected with the bank's owner, Tsvetan Vassilev.

Investigations during the past few weeks have also found large amounts of cash were removed from CCB's vaults the day before its request for conservatorship. In total

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