site.btaBanking System Profit Hits BGN 3 Bln End-October 2023

As of October 31, 2023, the profit of the banking system was BGN 3.0 billion, an increase of BGN 1.3 billion or 75% compared to the profit reported as of October 31, 2022, the Bulgarian National Bank reported here on Thursday. The net interest income for the first ten months of 2023 was BGN 4.0 billion, which is BGN 1.4 billion higher than the one realized for the same period last year.

The total assets of the banking system as of October 31, 2023, amounted to BGN 164.2 billion or BGN 942 million (0.6%) less compared to September 30, 2023.

The liquidity coverage ratio at the end of October 2023 was 250.3% (241.9% as of end-September). The liquidity buffer was BGN 45 billion, and the net liquidity outflows were BGN 18 billion (BGN 46.2 billion and BGN 19.1 billion at the end of September, respectively).

Gross loans and advances at the end of October were BGN 108.8 billion, marking a monthly growth of BGN 752 million or 0.7%. Claims on credit institutions decreased by BGN 52 million or 0.4% to BGN 13.4 billion, while the gross loan portfolio grew by BGN 804 million or 0.8% to BGN 95.4 billion. Loans to households increased by BGN 525 million or 1.4%, those to non-financial corporations – by BGN 245 million or 0.5% and to other financial corporations – by BGN 82 million or 1%. Loans to the general governments sector decreased by BGN 49 million or 4.1%.

Total deposits in the banking system at the end of October were BGN 140.1 billion, with a decrease of BGN 1.2 billion or 0.9% recorded during the month. Deposits of credit institutions decreased by BGN 1.3 billion or 13.1%, of other financial corporations – by BGN 291 million or 7.7%, and of the general governments sector – by BGN 218 million or 5.6%. The deposits of households grew by BGN 571 million or 0.7% and of non-financial corporations – by BGN 22 million or 0.05%.