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Bulgaria makes arrests over banking plot
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Bulgaria makes arrests over banking plot
Bulgarian authorities have arrested three more people on suspicion of plotting to destabilise the country's banking system. Five people have now been arrested, after two were detained on Saturday. They are suspected of spreading false information about the health of Bulgaria's banks, prompting runs on two of the country's biggest banks. Bulgaria's central bank has said there has been a systematic attempt to undermine the country's banking system. Last week, it took over Corporate Commercial Bank, Bulgaria's fourth-largest lender, following a run on deposits.Speculation the run could spread hit bank share prices towards the end of the week. On Friday, depositors rushed to withdraw savings from First Investment Bank, the country third-largest lender. The bank was forced to close until Monday after depositors withdrew 800m lev (£328m) in a matter of hours......Read more hereTags: None
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