The Bulgarian banking system is well capitalized, a report of the Bulgarian National Bank for the first half of 2001 shows. The trend of maintaining a high capital adequacy ratio was preserved during the first six months of 2002 with the indicator standing at 32,1% compared to 12% required by the central bank. According to the BNB report the banks had reserves to increase lending, the capital of the institutions with capital over BGN 300 M was large, these banks holding about 73% of the assets in the system. Experts attribute the high level of the capital adequacy indicator to the conservative policy of the credit institutions, which continue to make low-risk investments.

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