Bulgarians' Savings Up BGN 456 M in April 2014

Business » FINANCE | June 1, 2014, Sunday // 14:25
Bulgaria: Bulgarians' Savings Up BGN 456 M in April 2014 Photo by BGNES

Bulgarians saved a total of BGN 456 M in April 2014, according to statistics of the Bulgarian National Bank (BNB).

Deposits, including interests paid on them, reached a total of BGN 40.74 B.

Deposits of households exceeded BGN 40 B in end-March, when the total amount of money stored in accounts of natural persons stood at BGN 40.28 B.

In April 2014, the pace of growth of savings was 1.1% higher compared to the previous two months, according to the BNB.

In March 2014, deposits increased by BGN 181.9 M and in February 2014 Bulgarians saved BGN 208.4 M.

The high rate of increase is not unprecedented as deposits of natural persons increased by more than BGN 641 M in January 2014, according to Trud daily.

At the same time, Bulgarians remained cautious as regards taking new loans.

Consumer loans increased by BGN 12 M in April 2014.

Company loans went up by BGN 341 M, reaching BGN 39.1 B in April 2014, compared to an increase by BGN 283.5 M in March and an increase by BGN 369 M in February.

Meanwhile, profits of banks reached BGN 306 M in end-April 2014, compared to BGN 211 M by end-April 2013, due to the reduction in expenses on interests.

Assets of banks stood at BGN 86.4 B.

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Tags: Bulgarian National Bank, savings, deposits, consumer loans, corporate lending
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