site.btaBanking System Profit Up by 17.1% at End-April, Y/Y

The banking system's profit as at April 30 amounted to BGN 1.2 billion, up by 17.1% from the like period of 2023, the Bulgarian National Bank reported on Friday. The banking system's assets amounted to BGN 175.1 billion, down by 0.7% from end-March 2024.

At the end of April, the total gross loans and advances were BGN 113.9 billion, down by 0.2% from the end of March. Claims on credit institutions decreased by 11.8% to BGN 12.3 billion. The gross loan portfolio grew by 1.4% to BGN 101.6 billion. Loans to households increased by BGN 811 million (2.0%), of which BGN 457 million in the loans collateralised by residential immovable property. There was also an increase in loans to non-financial corporations, by BGN 399 million (0.8%), and to other financial corporations, by BGN 249 million (2.9%), whereas those to the general governments sector decreased by BGN 14 million (1.7%).

At the end of April, the total deposits in the banking system amounted to BGN 148.9 billion, decreasing on a monthly basis by 0.7%. This dynamic was mainly attributable to the decrease in deposits of credit institutions, by 14.6%. The accrued impairment costs on financial assets not measured at fair value through profit or loss, were BGN 191 million, up by 50.1% from end-April 2023.