Bulgarian Bank

Just heard on the news today that AIB purchased a Bulgarian bank, the 18th largest in Bulgaria, for €214 million a couple of years ago.

They have just sold it to a Bulgarian businesswoman, GF of the prime minister I’m told, for





€100,000

:scared: :wtf: :yikes: :damnit1:

Now that’s some write-down !!

ffs I'm not even going to try and work out what a percentage loss that is .: doc

It gets better:mad:

Listen to the whole article next time - she picked up nearly E80m worth of bad debt as well; not so good a deal suddenly, eh?

Quote:

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Originally Posted by BruceAlmighty

Listen to the whole article next time - she picked up nearly E80m worth of bad debt as well; not so good a deal suddenly, eh?

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She's the PM's girlfriend......govt put rescue package together.....all bailed out by IMF etc, etc.....