site.btaProfit of Banks in Bulgaria Reaches BGN 3.3 Billion for First 11 Months of 2023

As of 30 November 2023, the banking system's profit amounted to BGN 3.3 billion or BGN 1.4 billion (75%) more than the profit reported for the same eleven months of 2022, the Bulgarian National Bank (BNB) said.

In November, the banking system's assets grew by BGN 234 million (0.1%) to BGN 164.4 billion.

Gross loans and advances rose in November by BGN 1.3 billion (1.2%) to BGN 110.2 billion at the end of the month. Receivables from credit institutions increased by BGN 204 million (1.5%) to BGN 13.6 billion. The gross loan portfolio increased by BGN 1.1 billion (1.2%) to BGN 96.6 billion, with loans to households increasing by BGN 666 million (1.7%), loans to non-financial corporations by BGN 348 million (0.7%), loans to the general government sector by BGN 69 million (6%) and loans to other financial corporations by BGN 50 million (0.6%).

At the end of November, deposits in the banking system amounted to BGN 140.1 billion and increased by BGN 19 million (0.01%) compared to the end of October. An increase was observed in the deposits of households (by BGN 738 million or 0.9%) and of other financial enterprises (by BGN 193 million or 5.5%). The deposits of non-financial enterprises decreased by BGN 823 million (1.8%), those of the general government sector by BGN 77 million (2.1%) and those of credit institutions by BGN 13 million (0.2%).

The balance equity of the banking system at the end of November was BGN 19.9 billion and increased by BGN 254 million (1.3%) compared to the end of October. The main contributor to the growth was the increased profit during the month, the BNB said.