Three-Fourths of All Loans in Bulgaria Up to BGN 5000
Some 75% of all loans in Bulgaria are for amounts of less than BGN 5000, according to data of the Bulgarian National Bank by end-2013.
The number of loans for up to BGN 5000 is 2,001,363 out of 2,654,324 total number of physical persons loans.
The total amount of loans for BGN 5000 or less is for BGN 2.352B which is just 12.5% of the volume of all loans which come up to BGN 18.686B.
Only 25% of all physical persons loans were for amounts exceeding BGN 5000.
Loans for amounts between BGN 1000 and BGN 2500, as well as those for amounts between BGN 25 000 and BGN 50 000, have increased noticeably in 2013.
Loans of BGN 1000 – BGN 2500 increased by 11.1% up to 458,002.
Loans for amounts of BGN 25 000 to BGN 50 000 increased by 5594 in 2013 to a total of 94,005 credits.
The increase of loans for up to BGN 2500 indicates that due to low income, consumers are forced to get loans even for small home repairs and purchasing of equipment and furniture.
The increase in loans for up to BGN 50,000 is probably the result of real estate market animation.
- » ECB 'to Extend Backstop to Bulgaria' over Greece Crisis
- » Bulgarian Development Bank to Get EUR 150 M for Energy Retrofitting of Homes
- » Deposits in Bulgarian Banks Increased to Record Level in Past Year
- » WSJ: International Investors in Bulgaria’s KTB Demand Their Money Back
- » Bulgaria’s Government Debt Falls Slightly in May
- » Bulgaria’s Govt to Create Council Tasked with Eurozone Accession Preparations
So if your income goes down you take a loan because you cannot pay expenses.
What a cunning plan of the banks, soon they will own not only everything but also everyone.
Happens everywhere so not really a surprise.
What does strike me, how do you get so many people that stupid?
I mean, you can compare it with signing a pact with the devil.