The financial supervision in Austria closed the private bank European American Investment Bank AG / Euram Bank / yesterday afternoon. The reasons – unfulfilled criteria and concerns that money is being laundered, there is a lack of transparency of shareholders and violation of banking rules.
Tsvetelina Borislavova is one of the twelve mysterious owners of the bank- this was alleged in an investigation by local magazine Profil in 2022. Two years later, in a press release issued yesterday, no names were mentioned, but details of „one of the richest Bulgarians“ who still owns 9.9% of the bank’s shares stand out. Austrian law states that shareholders with less than 10 per cent of the shares are not subject to supervisory scrutiny and do not require explicit permission to participate in bank ownership. The owners of Euram Bank are 12, with 11 of them holding up to a maximum of 9.9 percent, writes Club Z.
On 15 October, the bank’s shareholders held an extraordinary meeting to decide on a capital increase of at least 25 million euros. The meeting, which lasted approximately 3 hours, was not of their choosing, but imposed on the bank by the Austrian financial supervisor with a notice, ordering it to increase its equity by at least 25 million euros and to implement it within 14 days. Or – failing that – decide to wind up the financial institution and liquidate it itself.
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