Bulgarian Banks Record Profit of BGN 866 Million in 2020

Business | January 2, 2021, Saturday // 12:25
Bulgaria: Bulgarian Banks Record Profit of BGN 866 Million in 2020 pixabay

The bank's profit for the eleven months of 2020 amounted to BGN 866 million, reports the Bulgarian National Bank.

That is BGN 663 million less than reported profit for the same period of 2019. Impairment costs of financial assets not recorded at fair value in profit or loss, at the end of November 2020 they were BGN 771 million (at BGN 419 million at the end of November 2019), BTA states.

The balance sheet total of the banking system on a monthly basis increased by BGN 1.4 billion (1.2 percent) and at the end of November was BGN 120,6 billion

Gross loans and advance payments increased in November by 1.4 percent (BGN 1.1 billion) to BGN 79.8 billion. Receivables from credit institutions increased by 5.8 percent (BGN 555 million) to BGN 10.2 billion.

The gross loan portfolio of the banking system increased during the month by 0.7 percent (BGN 512 million) to BGN 69.6 billion.

Loans to households increased by 0.6 percent (BGN 162 million), non-financial enterprises by 1.0 percent (BGN 390 million) and for state management by 1.3 percent (BGN 14 million). Loans to other financial corporations fell by 1.1 percent (BGN 54 million).

Deposits in the banking system recorded a monthly increase of 1.2 percent BGN 1.2 billion) to BGN 102.3 billion. Household deposits increased by 0.8 percent (BGN 456 million) and those of non-financial enterprises by 2.2 percent (BGN 668 million).

Deposits of other financial enterprises and credit institutions are also increasing -by 2.8 per cent or BGN 100 million and by 1.1 per cent or BGN 43 million, respectively.

The deposits of the state management sector are down by 3.4 percent or BGN 89 million.

The equity in the balance sheet of the banking system at the end of November amounted to EUR 15.3 billion. Lv. and is BGN 100 million (0.7 percent) higher than at the end of October.



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