Bulgaria’s banking system has increased its profit to BGN 439 M as of end-April 2016, up BGN 65 M from a year earlier, the central bank has said.

The banking system’s total equity increased by 0.9% month-on-month, reaching BGN 11.7 B as of April 30 due to the rise in profit.

The liquid assets ratio remained high at 36.6% as of end-April, the Bulgarian National Bank (BNB) said in a statement on Tuesday.

The accumulated impairment on loans and receivables for the first four months of 2016 decreased to BGN 219 M, compared with BGN 244 M for the January-April period of 2015,

In April, the total assets of the banking system increased by 0.2% to BGN 87.3 M. Cash on hand increased by 10.3%, while cash balances at central banks grew by 1.0%. Securities portfolios had a share of 14% in total assets.

The loan portfolio of Bulgaria’s banking system’s (excluding loans to central banks and credit institutions) grew by BGN 144 M in April, a monthly increase of 0.3%.

Deposits in the Bulgarian banking system increased by 0.4% month-on-month, reaching BGN 73.9 B as of April 30.

Compared to end of March, deposits from households were BGN 387 M higher as of end-April, a monthly increase of 0.9%. Deposits of non-financial companies increased by BGN 102 M (+0.5%) and deposits of other financial corporations grew by BGN 59 M (+1.7%).

Twenty-seven commercial banks operated in Bulgaria as of end-April 2016, including five branches of foreign banks.

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