Profit of banks in Bulgaria increased by over 60% in a year

18:51, 01.06.2023
Profit of banks in Bulgaria increased by over 60% in a year
Image: BGNES/archive

The profit of the banking system in Bulgaria increased by 61.5% to BGN 1 billion in the first four months of the year in coparison with the same period of 2022, data of the Bulgarian National Bank shows.

The balance sheet equity of the banking system at the end of April amounted to BGN 17.7 billion and increased by BGN 253 million (1.5%) compared to the end of March 2023. Its monthly increase is influenced by the profit dynamics for the period.

According to BNB data, total gross loans and advances in April increased by BGN 4.9 bln (4.8%) to BGN 106.5 bln. Receivables from credit institutions rose by BGN 4.1 billion (31.1%) to BGN 17.2 billion, while the gross loan portfolio increased by BGN 801 million (0.9%) to BGN 89.2 billion.

Loans increase, deposits decrease

Loans to households increased by BGN 392mn (1.1%), to non-financial corporations by BGN 222mn (0.5%), to other financial corporations by BGN 161mn (2.3%), and to the general government sector by BGN 25mn (2.8%).

Compared to the end of March 2023, deposits in the banking system decreased by BGN 790 million (0.6%) to BGN 136.7 billion. A decline was recorded in deposits of non-financial corporations (by BGN 577mn, 1.3%), other financial corporations (by BGN 507mn, 10.7%), credit institutions (by BGN 497mn, 5.5%) and the general government sector (by BGN 112mn, 2.5%), while household deposits increased (by BGN 904mn, 1.2%).

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