site.btaBanking System's Profit Down BGN 32 Mln at End-November, Y/Y

As of November 30, 2024, the profit of the banking system amounted to BGN 3.3 billion, which is BGN 32 million (1.0%) less than the profit for the eleven months of 2023, the Bulgarian National Bank said in a press release.

In November, the total assets of the banking system increased by BGN 1.2 billion (0.6%) to BGN 183.6 billion. Compared to the end of October, loans and advances increased (by BGN 1.1 billion, 1.0%), as well as debt securities (by BGN 786 million, 2.4%), and the item cash, cash balances at central banks and other demand deposits decreased (by BGN 987 million, 3.5%).

At the end of November, the share of loans and advances in the structure of total assets amounted to 63.1%, that of debt securities – to 18.2%, and the share of the most liquid item cash, cash balances at central banks and other demand deposits decreased to 14.7% (62.9%, 17.9% and 15.3%, respectively, at end-October).

As of November 30, 2024, the liquidity coverage ratio was 266.8% (255.7% as of October 31). The liquidity buffer decreased over the month to BGN 48.4 billion, and the net liquidity outflows – to BGN 18.1 billion (BGN 49.4 billion and BGN 19.3 billion, respectively, at the end of October).

Total gross loans and advances increased by BGN 1.1 billion (1.0%) to BGN 119.2 billion in November. Claims on credit institutions decreased by BGN 475 million (4.7%) to BGN 9.6 billion.

The gross loan portfolio of the banking system grew by BGN 1.6 billion (1.5%) reaching BGN 109.6 billion at end-November. Loans to non-financial corporations increased (by BGN 882 million, 1.7%) along with loans to households (by BGN 724 million, including BGN 611 million collateralized by residential immovable property) and to other financial corporations (by BGN 78 million, 0.9%), whereas loans to the general governments sector decreased (by BGN 63 million, 6.7%).

At end-November, the deposits in the banking system amounted to BGN 155.4 billion, by BGN 687 million (0.4%) more than at the end of October. On a monthly basis, there was an increase in the resources from households – by BGN 1.0 billion (1.1%), as well as from credit institutions (by BGN 370 million, 3.5%) and from other financial corporations (by BGN 239 million, 6.3%).

Deposits of non-financial corporations decreased (by BGN 741 million, 1.5%), as well as those of the general governments sector (by BGN 200 million, 5.7%). At end-November, the total equity in the balance sheet of the banking system stood at BGN 22.7 billion – by BGN 287 million (1.3%) more compared to end-October, influenced by the monthly increase in profit.