Banking Sector in Bulgaria Reports 3 Billion Leva Profit, Faces Potential New Taxation
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The Bulgarian Development Bank Reports 20% Growth in Profit
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BGN 18.3 million in profit for the first six months of this year is reported by the Bulgarian Development Bank. The increase is 20% compared to the same period of the previous year and is a result of the activation of the credit activity, the institution announced.
The Bank's portfolio grew by 7% this semester.
2018 was the strongest in the history of the banking institution, with the largest volume of attracted funds from foreign credit institutions.
The Bank finances its activities by negotiating the attraction of resources from foreign and international credit institutions as well as investment funds.
Bulgarian Development Bank currently has 13 active contracts with 8 financial institutions. Among them is the China Development Bank (CBD), which signed a record contract for 1.5 billion euro in 2018.
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