Bulgarian SIBank is in negotiation with two European candidates interested in buying a majority share.

The result of these negotiations could be announced before the end of the month. Candidates are the KBC Bank from Belgium, which has already bought insurance company DZI, and La Caixa, the largest private bank in Spain. This announced Reuters. The agency quoted a source close to the process who requested anonymity. Caixa and KBC have both made offers to buy shares in the ninth largest Bulgarian bank. “At this moment the offers are being examined and a choice would most likely be made before the end of the month,” the anonymous source said. A different source told Reuters that the decision might be taken earlier. A spokesperson for SIBank refused to comment. Reuters' sources did not mention the value of the offers. According to Reuters, the market capitalisation of SIBank is 930 million leva. The news caused SIBank shares to rise in price with 5.89 per cent to a record level of 145 leva.