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Bulgarian regulator clears Victoria Bank purchase by Investbank

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Bulgarian regulator clears Victoria Bank purchase by Investbank

The Bulgarian Commission for Protection of Competition allowed Investbank AD to acquire Victoria Commercial Bank EAD from collapsed Corporate Commercial Bank AD, SEENews reported July 5.

Investbank obtained preliminary approval for its purchase of Victoria Bank from the Bulgarian central bank in March and signed the acquisition agreement with Corpbank's receiver in April.

The new owner plans to absorb Victoria within six months after the acquisition is complete, SEENews noted.