Banks' Q1 Profit at BGN 288M
In the first quarter of 2017, the banking system posted an increase in deposits, assets and balance sheet capital. The banks' high liquidity was preserved.
Total liquid assets stood at BGN 30.9 bln as at the end of March, up by BGN 539M (1.8%) from the previous quarter. The liquid asset ratio reached 38.80 per cent.
The banking sector posted a first-quarter profit of BGN 288M, BGN 18M less than a year earlier. The impairment costs on loans and receivables accumulated in the first quarter stood at BGN 125M, compared to BGN 175M a year earlier. As at March 31, the banking system reported a return on assets of 1.24% and a return on equity of 9.44%.
The banking system's assets increased by 0.9% to BGN 92.9 bln.
An increase was registered in lending to households (by BGN 275M, 1.5%) and non-financial corporations (by BGN 132M, 0.4%). A decrease was registered in lending to other financial corporations (by BGN 81M) and to the general government sector (by BGN 35M).
At the end of March, the gross amount of non-performing loans and advances in the banking system totalled BGN 9,966M (compared to BGN 9,961M at the end of December 2016).
Deposits in the banking sector increased by BGN 276M (0.4%) in the first quarter, the central bank reported.
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