site.btaBanking System Profit Hits BGN 2 Bln End-July 2023

As of July 31, 2023, the profit of the banking system was BGN 2.0 billion, or BGN 819 million (68%) more than the profit realized over the same period of 2022, the Bulgarian National Bank reported here on Thursday. The total assets of the banking system amounted to BGN 160.7 billion, a drop of BGN 376 million, or 0.2%, Y/Y.

Total gross loans and advances were BGN 107.0 billion at the end of July, and on a monthly basis decreased by BGN 1 billion or 1%. Claims on credit institutions decreased by BGN 1.8 billion (10.8%) to BGN 14.5 billion. The gross loan portfolio grew by BGN 727 million (0.8%) to BGN 92.4 billion. Loans to other financial corporations increased by BGN 95 million or 1.2%. Loans to non-financial corporations increased by BGN 160 million or 0.3% and to households by BGN 540 million or 1.5%. Loans to the general governments sector decreased by BGN 69 million or 6.7%.

At the end of July, the total deposits in the banking system amounted to BGN 137.6 billion, with a decrease of BGN 854 million or 0.6% registered over the month. Deposits of credit institutions decreased by BGN 1.9 billion or 18.9%, as well as those of the general governments sector – by BGN 327 million or 7.8%. Deposits of other financial corporations increased by BGN 187 million or 4.4%. Deposits of non-financial corporations grew by BGN 567 million or 1.3% and of households by BGN 605 million or 0.8%.

The total equity in the balance sheet of the banking system reached BGN 18.7 billion and grew by BGN 348 million or 1.9% on a monthly basis. The main contribution to the growth came from the increased profit during the month.