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Bulgarian National Bank headquarters, photo by BGNES
In the first month of 2015, no significant changes occurred in the balance sheet structure of credit institutions in Bulgaria, according to data of the Bulgarian National Bank (BNB).
Compared to December 2014, the assets of the banking system increased by BGN 1 billion (1.2%).
Cash decreased by BGN 38 million (0.4%).
Investments in securities fell by BGN 113 million due to the maturity of government securities during the month.
In January 2015, the balance sheet capital of the banking system increased by BGN 130 million.
Gross loans and advances grew by BGN 1 billion (1.6%) due to the increase in claims on credit institutions (by BGN 1.5 billion, 13.8%).
The loan portfolio registered a reduction of both loans to corporations (by BGN 276 million, 0.8%) and retail exposures (by BGN 101 million, 0.6%).
Loans to non-credit institutions decreased by BGN 100 million (7.0%).
The balance sheet item loans and receivables amounted to BGN 61.8 billion as of end-January 2015.
Financial liabilities measured at amortized cost increased by BGN 919 million (1.2%).
Deposits of individuals and households increased by BGN 779 million (1.9%).
As of January 31, 2015, the liquid assets in the banking system amounted to BGN 23.7 billion, up by BGN 1.5 billion from the level in end-December 2014.
This increase occurred as a result of the significant growth of funds in current account balances.
The liquid assets ratio, as calculated under BNB Ordinance No.11, increased to 31.78%.
As of January 31, 2015, the profit of the banking system amounted to BGN 121 million, up by BGN 48 million from the rate reported a year earlier.
No negative changes occurred in the level and severity of credit risk.
Asset impairment costs stood at BGN 13 million at the end of January 2015.
As of December 2014, the overall capital adequacy ratio of the banking system according to the Capital Requirements Directive 2013/36/EU and Regulation No 575/2013 on Prudential Requirements was 21.95%.
The Common Equity Tier 1 Capital Ratio was 19.51%, and the Tier 1 Capital Ratio – 19.97%.
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