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Bulgaria: State Bank Asks Depositors To Remain Calm

  • Ivo Indzhev

Sofia, 19 November 1996 (RFE/RL) - The Bulgarian State Savings Bank (DSK) yesterday issued an appeal to anxious depositors not to withdraw their savings from the bank.

The appeal came as thousands of people queued up throughout the country at branches of the bank yesterday demanding their money. They fear a banking crisis similar to the one that plagued some of the country's financial institutions earlier this year.

The DSK acknowledged problems exist at the bank but said they had been grossly exagerated.

DSK, the largest financial institution in Bulgaria, is considered the last stable pillar in an already badly shaken financial system.