site.btaJune 2023 Interest Rate Statistics - Central Bank

The Base Interest Rate in June 2023 was 2.96%, increasing by 0.19 percentage points in comparison with May 2023, the Bulgarian National Bank said Wednesday.

Non-financial corporations sector statistics show that in June 2023 the average interest rate on loans up to EUR 1 million agreed in BGN increased by 0.23 percentage points to 4.00%, while that on loans over EUR 1 million retained its level at 4.01%. The average interest rate on loans up to EUR 1 million agreed in EUR rose by 0.51 percentage points to 5.43% and that on loans over EUR 1 million – by 0.39 percentage points to 5.74%. In June 2023, the average interest rate on BGN overdraft increased by 0.16 percentage points to 3.27% and that on EUR overdraft – by 0.19 percentage points to 4.95%.

The new business volume on loans up to EUR 1 million agreed in BGN increased by 20% (BGN 83.4 million) to BGN 500.6 million and that on loans over EUR 1 million – by 109.2% (BGN 449.1 million) to BGN 860.5 million. The volume of renegotiated loans and loans for refinancing agreed in BGN rose by 105.5% (BGN 318.8 million) to BGN 620.9 million.

The new business volume on loans up to EUR 1 million agreed in EUR increased by 20.3% (BGN 13.8 million) to BGN 81.9 million and that on loans over EUR 1 million – by 77.5% (BGN 443 million) to BGN 1014.8 million. The volume of renegotiated loans and loans for refinancing agreed in EUR rose by 45.9% (BGN 179.1 million) to BGN 569.3 million.

In respect to the households sector, in June 2023 the average interest rate on BGN consumer loans decreased by 0.47 percentage points to 8.19% and the Annual Percentage Rate of Charge (APRC) on these loans – by 0.48 percentage points to 8.69%. The average interest rate on BGN loans for house purchases declined by 0.02 percentage points to 2.57% and the respective APRC – by 0.03 percentage points to 2.85%. The average interest rate on BGN other loans increased by 0.48 percentage points to 3.89%. The average interest rate on BGN other loans to sole proprietors rose by 0.47 percentage points to 3.85%. In June 2023 the average interest rate on BGN overdraft increased by 0.04 percentage points to 14.76% and that on BGN extended credit card credit – by 0.07 percentage points to 20.84%.

The new business volume on BGN consumer loans increased by 11.2% (BGN 83.5 million) to BGN 830.7 million of which the volume of renegotiated loans and loans for refinancing – by 22.6% (BGN 26.1 million) to BGN 141.7 million. The volume of new business on BGN loans for house purchase rose by 23.2% (BGN 138.5 million) to BGN 736.7 million of which the volume of renegotiated loans and loans for refinancing – by 8.2% (BGN 13.2 million) to BGN 173.6 million. The new business volume of BGN other loans increased by 33.4% (BGN 6.6 million) to BGN 26.4 million while that of renegotiated loans and loans for refinancing decreased by 23.2% (BGN 3 million) to BGN 9.9 million. The volume of new business on BGN other loans to sole proprietors rose by 36.9% (BGN 6.6 million) to BGN 24.3 million.

In the non-financial corporations sector, in June 2023 compared to May 2023 the average interest rate on BGN deposits with agreed maturity increased by 0.15 percentage points to 1.76% and that on EUR deposits with agreed maturity – by 0.08 percentage points to 1.55%. The average interest rates on both BGN and EUR overnight deposits rose by 0.01 percentage points and 0.02 percentage points to 0.02% and 0.04%, respectively.

The new business volume on BGN deposits with agreed maturity increased by 163.1% (BGN 628.6 million) to BGN 1014 million, while that on EUR deposits with agreed maturity decreased by 10.8% (BGN 40.7 million) to BGN 335.7 million.

In June 2023 the average interest rate on BGN deposits in the households sector with agreed maturity increased by 0.13 percentage points to 0.70% and that on EUR deposits with agreed maturity – by 0.55 percentage points to 1.25%. The average interest rates on both BGN and EUR overnight deposits retained their levels of 0.01%.

The average interest rates on BGN and on EUR deposits redeemable at notice remained at 0.11% and 0.16%, respectively.

The volume of new business on BGN deposits with agreed maturity increased by 26% (BGN 48.1 million) to BGN 232.9 million and that on EUR deposits with agreed maturity – by 40.5% (BGN 71.8 million) to BGN 248.9 million.