site.btaBanking System's Profit Up BGN 100 Mln at End-August, Y/Y

As at August 31, 2024, the profit of the banking system amounted to BGN 2.4 billion, up by BGN 100 million (4.3%) from the profit made in January-August 2023. The system's assets increased by BGN 939 million (0.5%) to reach BGN 180.0 billion at the end of August 2024, the Bulgarian National Bank said in a press release Monday.

The liquidity coverage ratio as at August 31, 2024 was 262.0% (249.7% as at July 31). The liquidity buffer remained at BGN 48.0 billion, and the net liquidity outflows decreased to BGN 18.3 billion (from BGN 19.2 billion at the end of July).

Total gross loans and advances increased by BGN 463 million (0.4%), reaching BGN 117.4 billion at the end of August. Claims on credit institutions dropped by BGN 455 million (3.9%) to BGN 11.3 billion.

The gross loan portfolio of the banking system grew by BGN 918 million (0.9%) to BGN 106.1 billion, mostly owing to the increase reported in loans to households, by BGN 779 million (1.8%). Loans to non-financial corporations increased by BGN 72 million (0.1%), to the general governments sector by BGN 51 million (6.0%), and to other financial corporations by BGN 16 million (0.2%).

As at August 31, the deposits in the banking system totalled BGN 153.1 billion, up by BGN 510 million (0.3%) from the end of July. Growth was observed in the resources from households, by BGN 559 million (0.6%), from other financial corporations by BGN 160 million (4.5%) and from non-financial corporations by BGN 122 million  (0.3%). Deposits of credit institutions decreased by BGN 183 million (1.7%), as did those of the general governments sector, by BGN 147 million (3.6%).

Total equity in the balance sheet of the banking system at the end of August was BGN 21.8 billion, an increase by BGN 322 million (1.5%) compared to the end of July. This growth is due mainly to the monthly increase in profit, the central bank said.