Kbc Ceo: We Have No Intention Of Drawing Funds From Bulgaria

We have no intention of drawing funds from Bulgaria, in order to transfer back to Belgium, we will continue our policy in the country as usual, Andre Bergen, Chief Executive Officer of the big Belgium bank group KBC, said in a special interview for BTA (Bulgarian Telegraph Agency).This was his answer to the emerging comments that Western banks, experiencing difficulties because of the financial crisis, which have acquired assets in Bulgaria and other countries in Central and Eastern Europe might start to draw funds from their subsidiaries in the region.In Bulgaria KBC acquired last year 75% of СИБанк and prior to that ДЗИ.According to Bergen, KBC's condition is stable. He pointed out to several moments. One is the liquidity or the funds, at the disposal of the group. In this direction our condition is stable, Andre Bergen stated.The current market condition, however, is such that it pressures the liquidity of KBC to be even more significant. Because of this, the Belgian state promised last week to support KBC with 3,5 billion Euro, so that we are even more solid liquidity-wise.