site.btaConsumer Loans in Bulgaria Up 10.9% in July, Month on Month - Central Bank Statistics

The new business volume on consumer loans in BGN rose by 10.9% (BGN 92.2 million) to BGN 940.3 million in July 2024 from June, of which the volume of renegotiated loans and loans for refinancing – by 4.8% (BGN 5.8 million) to BGN 126.8 million, the Bulgarian National Bank reported on Tuesday.

The volume of new business on BGN loans for house purchase declined by 3% (BGN 26.9 million) to BGN 861.9 million, and the volume of renegotiated loans and loans for refinancing by 1.3% (BGN 2.2 million) to BGN 165.6 million during the same period. The new business volume of other loans in BGN increased by 4.6% (BGN 1.5 million) to BGN 35.3 million, while that of renegotiated loans and loans for refinancing decreased by 27.1% (BGN 3.1 million) to BGN 8.2 million. The volume of new business on other loans in BGN to employers and self-employed declined by 3.2% (BGN 1 million) to BGN 30.4 million.

In July 2024, the average interest rate on consumer loans in BGN increased by 0.45 percentage points to 9.40% and the Annual Percentage Rate of Charge (APRC) on these loans by 0.60 percentage points to 10.13%, the central bank said. The average interest rate on loans in BGN for house purchases rose by 0.01 percentage points to 2.53% and the respective APRC by 0.01 percentage points to 2.83%. The average interest rate on BGN other loans increased by 0.33 percentage points to 3.95%. The average interest rate on BGN other loans to Sole Proprietors rose by 0.37 percentage points to 3.97%. In July 2024 the average interest rate on BGN overdraft increased by 0.01 percentage points to 14.68% and that on BGN extended credit card credit by 0.03 percentage points to 20.69%.

In July 2024, the average interest rate on loans to non-financial corporations of up to EUR 1 million agreed in BGN decreased by 0.04 percentage points to 4.19%, while that on loans over EUR 1 million increased by 0.60 percentage points to 4.78%. The average interest rate on loans up to EUR 1 million agreed in EUR declined by 0.43 percentage points to 4.53%, and that on loans over 1 million EUR by 1.75 percentage points to 4.25%. In July 2024, the average interest rate on BGN overdraft decreased by 0.06 percentage points to 3.56% and that on EUR overdraft by 0.04 percentage points to 5.23%.

The new business volume on loans to non-financial corporations of up to EUR 1 million agreed in BGN decreased by 5% (BGN 20.8 million) to BGN 399.3 million, while that on loans over EUR 1 million increased by 12.4% (BGN 77.6 million) to BGN 704 million. The volume of renegotiated loans and loans for refinancing agreed in BGN rose by 47.7% (BGN 163.3 million) to BGN 505.6 million.

The new business volume on loans to non-financial corporations of up to 1 million EUR agreed in EUR declined by 32.5% (BGN 28.3 million) to BGN 58.8 million and that on loans over EUR 1 million by 34.9% (BGN 315.7 million) to BGN 589.7 million. The volume of renegotiated loans and loans for refinancing agreed in EUR decreased by 13.9% (BGN 74 million) to BGN 456.9 million.

In July 2024 compared to June 2024, the average interest rate on BGN deposits with agreed maturity held by non-financial corporations increased by 0.36 percentage points to 2.18%, and that on EUR deposits with agreed maturity by 0.14 percentage points to 2.56%. The average interest rate on BGN overnight deposits changed insignificantly to 0.04%, while that on EUR overnight deposits rose by 0.01 percentage points to 0.10%. The new business volume on BGN deposits with agreed maturity decreased by 12% (BGN 120.4 million) to BGN 882.8 million, while that on EUR deposits with agreed maturity increased by 58.7% (BGN 369 million) to BGN 997.4 million.