site.btaBanking System Profit as of March 31 Amounts to BGN 818 Mln, Shows BNB Data

The profit of the banking system as of March 31 amounted to BGN 818 million, BGN 33 million (4.3%) more than the profit realized for the first three months of 2023, reported the Bulgarian National Bank BNB.

In the first quarter of the year, the assets of the banking system grew by BGN 4.3 billion (2.5%) and at the end of March amounted to BGN 176.3 billion.

Gross loans and advances increased during the quarter by BGN 7.8 billion (7.3%) to BGN 114.1 billion at the end of March. Receivables from credit institutions increased by BGN 5.1 billion (56.9%) to BGN 14 billion, and the gross credit portfolio of the banking system - by BGN 2.7 billion (2.8%) to BGN 100.1 billion.

In the case of loans for households, growth was reported on a quarterly basis by BGN 1.8 billion (4.5%), for non-financial enterprises by BGN 930 million (1.9%), and for other financial enterprises by 201 million BGN (2.4%), while loans to the state administration sector decreased by BGN 201 million (19.2%).

Compared to the end of December last year, deposits in the banking system increased by BGN 2.7 billion (1.8%) and reached BGN 150 billion by the end of the first quarter of 2024. Household deposits increased (by 1. BGN 7 billion, 2.1%), credit institution deposits went up by BGN 1.1 billion (10.5%), state administration deposits were up by BGN 416 million (11%) and deposits by other financial enterprises increased by BGN 120 million (2.9%). Deposits of non-financial enterprises decreased (by BGN 643 million, 1.4%).

Equity in the balance sheet of the banking system at the end of the first quarter of the year amounted to BGN 20.7 billion, with BGN 641 million (3.2%) more compared to the end of December 2023. Contributing to growth during the period were the positive dynamics of current profit, premium reserves, paid-in capital and accumulated other comprehensive income, the BNB noted.