Mon, Mar 22 2010

Societe Generale France fraud case will not influence results SG Expressbank Bulgaria - bank

Fri, Jan 25 2008 14:01 CET byRene Beekman 3480 Views

The Societe Generale Expressbank Bulgaria issued a statement on January 25, saying that the massive fraud case which had been uncovered by Societe Generale in France, would not affect the results of the Bulgarian bank.

On January 25 French Societe Generale announced that a rogue lone trader had made unauthorised bets on stock markets, but may not have netted him a cent, Associated Press said.

The bank said the fraud was "exceptional in its size and nature," and it apparently went undetected by its own multi-layered security systems for more than a year.

AFP news agency said that a Paris-based trader allegedly built up 4.9 billion euros of losses, wiping out Societe Generale's 2007 profit and leaving it as a potential takeover target.

The trader was identified as 31-year-old Jerome Kerviel.

The Bulgarian Societe Generale Expressbank said it expected that the fraud would have no effect on its performance and that results in 2008 would continue trends from 2007.

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Appointments

Piraeus Bank

Piraeus Bank

Pepi Ivanova has joined Piraeus Bank Bulgaria as its news press office manager. She will be responsible for the bank's corporate communications and media relations and its subsidiaries - Piraeus Leasing Bulgaria, Bulfina, Piraeus Auto Leasing, Piraeus Insurance Brokerage and Piraeus Best Leasing. Ivanova has 10 years' experience in public relations and banking. She started her career as an associate at the NGO Center for the Study of Democracy and later became an economics journalist at Trud daily. She has also worked as a client service specialist and credit administrator at United Bulgarian Bank. Before joining Piraeus Bank, Ivanova spent seven years working for Globul mobile operator. She has a master's degree in philosophy and journalism from Sofia University St. Kliment Ohridski and a post-graduate degree in banking from the University for National and World Economy in Sofia. Ivanova also holds a diploma from the London School of Public Relations.

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Valeria Vidinlieva is the new HR manager of Overgas natural gas suppliers. She will be responsible for the company's corporate social responsibility and for selection and training of staff. She joins the company after 24 years at Stomana Industry metallurgic firm, now part of the Greek Viohalco, where she headed the HR directorate. Vidinlieva is a graduate of Sofia's University of National and World Economy and has a degree in HR from Paisii Hilendarski University in Plovdiv.

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