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BBI Executive Director Stoyan Mavrodiev. Photo: BGNES / BLOODY KIRILOV |
The deal with a BGN 75 million loan from Saint George Group, a company affiliated with debt settlement company SG Group, has been in operation for 6-7 months, long before the coronation crisis. . This was commented on bTV by the executive director of the credit institution. Stoyan Mavrodiev. He explained the loan granted by the bank after the scandal in which Prime Minister Boyko Borisov has demanded the resignation of the state bank’s management.
Mavrodiev defended the loan decision with the explanation that with this transaction the collection company bought a portfolio of bad debts 80% from Postbank and 20% from Banco Municipal, with the guarantee with assets for 500 million BGN.
“Several commercial banks were competing for this agreement,” explained the banker.
He believes that “the Prime Minister has been seriously misled by the analyzes before him.”
“The matter is complicated and he has not been able to get into the details.” The BDB team did nothing wrong, especially after these people work 24 hours a day to do the bank’s programs, “said Mavrodiev.
Explained With this transaction, the BDB deletes the portfolios of the two commercial banks., who will receive a new resource for new business loans.
The deal
“This agreement is backed more than five times. Over the ten-year period, the BDB will earn more than BGN 3 million a year. This will earn more than BGN 35 million, probably at state rates. This money will enter the state, it will be used for social programs or it will remain in the bank’s capital and be redistributed as loans to small and medium-sized enterprises, “Mavrodiev said.
He said this is how the state bank helps 8,500 companies and individuals, “otherwise the two banks will go after them and take cases, attach their properties and proceed with direct execution.”
“The broker does not pursue debtors, it can only agree through agreements how to collect these debts in the next ten years. That is, they will be deferred,” he added.
Stoyan Mavrodiev explained that the money awarded will be transferred directly to the two banks and only through the accounting firm will it pass.
He also denied information that the funds came from a government-created fund worth 1.5 billion lev to help companies out of the crisis. Stoyan Mavrodiev also announced that the agreement had been completed a long time ago and could not be canceled.
“It is absolutely legal, approved by the bank’s board of directors and supervisory board. Every transaction of more than BGN 5 million is approved by the Supervisory Board, there is a serious sieve for all transactions. Everything is professional, transparent and it is made to the highest standards, “says the banker.
Values
Mavrodiev specified that only BGN 150 million were fixed assets in real estate given as collateral by the two commercial banks.
“BDB will earn BGN 30 million in dividends for the state, which we will redistribute as loans to SMEs, new companies,” he said, adding that with this loan the bank helps more than 1,500 companies that they will have in the next ten years. An opportunity to pay off your loans.
The report
In an activity report on BDB’s board, for two and a half years since he headed the bank, Mavrodiev recalled that The funds raised are more than BGN 3.5 billion in credit lines from the development banks of China, Japan, Korea and the European Investment Bank, which is an important partner of BDB.
“In our banking business, morale is measured by numbers,” said Mavrodiev, recalling that the resources raised at BDB were given to companies, to companies that export and add value. “If it is not distributed, we pay a negative interest rate of 0.7% to BNB, so we have an interest in lending to the business,” said the banker.
“When our team joined the bank, there were approximately BGN 2.4 billion of assets, in two and a half years there were a billion more, with a growth of almost 35%. Loans in the amount of BGN 700 million were disbursed, until the to date, BGN 1.7 billion loans have been disbursed to small and medium-sized companies ”, comments the Executive Director of BDB.
Resignation
Mavrodiev assumed full responsibility for the actions on board the BDB, but emphasized that decisions are always approved by the supervisory board, in which the Ministry of Economy is the main.
“My resignation has always been on the table, I can always be replaced, but I will feel connected to GERB.” If I have to bear the blame, but keep the bank team where colleagues are wonderful technocrats, “insists the banker.
According to him, he is not familiar with the idea of Finance Minister Vladislav Goranov of “strengthening the bank’s capacity.”
“The director has the right to recruit new people, but I am not familiar with this process,” Stoyan Mavrodiev said and announced that there is no agreement that was not attacked by the media group with false news from the Capital Circle. “It acts as a terrorist organization with an attack on the bank and personally against me,” he confirmed, recalling that cases were being launched against Ivo Prokopiev in their signals.
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