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Tzvetan Vassilev

Tzvetan Vassilev: Corporate Commercial Bank AD is a Responsible Bank both towards its Client Depositors and the Bulgarian Business

June 19th, 2014

The current events proved that the alleged faction between Peevski and Vassilev is a myth


“Corporate Commercial Bank AD has been supporting and continues to support anything rational and reasonable. However, when we see deviations from the normal practices, we take measures. We are a responsible bank both towards our client depositors and the Bulgarian business,” said Tzvetan Vassilev, Chairman of Corporate Commercial Bank AD’s Supervisory Board, in an interview with bTV. Parts of the interview were broadcast today on This Morning show and in yesterday’s central News on bTV.


Before the journalist Svetoslav Ivanov, Tsvetan Vassilev gave more first-person information about the current events, the investigation, the attacks, and the manipulations against him.


Corporate Commercial Bank AD’s responsible attitude towards the Bulgarian business is expressed both through the support towards all rational projects and the intolerance towards all malicious practices, such as this one — the public procurement to be distributed through the channels of “a person who has been considering himself the ruler of Bulgaria for the last year,” as was stated in the interview. According to Vassilev, at the present moment the Bulgarian business is afraid to say what is really happening. The public procurement is distributed through the channels of a particular person whose puppets speak on behalf of the state.  


In the interview the banker denied to having funded Delyan Peevski’s business projects with state money and explained that he does not act through stooges. Tzvetan Vassilev also said that he is ready to cooperate with the investigation and prosecution authorities.


Vassilev shared some of the particular reasons for the deterioration of his relationship with Delian Peevski — namely Vassilev’s disagreement over the drain of Bulgartabac Holding AD, his refusal to let Peevski abuse his name by involving him in malicious practices, such as bribery in public procurement, different recruitments etc.


Regarding the media deals of the New Bulgarian Media Group, the Chairman of Corpbank AD’s Supervisory Board explained that for him the idea behind the financing of the media purchases of this group has always been completely different — namely, a business project related to the old printing house together with the land. The banker explained his interest by the boom in sales and property projects in this period. “My goal has always been to participate in the development of a potential project on the land of the printing house — the land of Rodina Publishing Polygraphic Complex.” 


According to Vassilev, the tender for prime contractor of the South Stream project was scandalous and dubious. “I personally believe that this is a useful project for Bulgaria and Europe, but the main part of the tender must be repeated. Having in mind the way the construction of the South Stream in Bulgariawas organized, I would never want the bank to have anything to do with this project,” said Tzvetan Vassilev.


The Chairman of Corporate Commercial Bank AD’s Supervisory Board also answered a question about his differences with the former journalist and current owner of Economedia Ivo Prokopiev:


“I am for a strong public capital. Mr. Prokopiev supports the view that there should be strong foreign capital in Bulgaria. I am not against this but it should not happen at any cost and at the expense of the national capital. The country’s sustainable development depends on the strong Bulgarian companies. I read Prokopiev’s newspapers when they are objective because sometimes they have gone to extremes. Do you remember the situation with the so called unknown buyer of PAC Doverie? Look at how many publications there are in Mr. Prokopiev’s newspapers, accusing me of duplicity and play in favor of the Russians.”


You can see the whole interview with Tzvetan Vassilev on bTV on Saturday, June 21st, at 5:00 p.m. in the 120 Minutes show with host Svetoslav Ivanov.

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