site.btaBanking System's Profit Up BGN 14 Mln at End-September, Y/Y

As of September 30, 2024, the profit of the banking system was BGN 2.7 billion, which is BGN 14 million (0.5%) more compared to the first nine months of 2023, according to data published by the Bulgarian National Bank on Thursday.

In the third quarter of 2024, the assets of the banking system grew by BGN 4.0 billion (2.2%), and at the end of September they amounted to BGN 182.4 billion.

The gross loan portfolio of the banking system increased on a quarterly basis by BGN 2.4 billion (2.3%) to BGN 106.6 billion. This was mainly attributable to loans to households – up by BGN 2.3 billion (5.3%).

Compared to end-June, the size of the most liquid balance sheet item cash, cash balances at central banks and other demand deposits increased (by BGN 1.3 billion, 4.4%) and its share in the structure of the balance sheet assets rose from 16.5% to 16.8%. During the period, loans and advances increased (by BGN 2.1 billion, 1.9%), as did debt securities (by BGN 404 million, 1.3%), and at the end of September their shares in the assets were 62.0% and 17.4%, respectively

At the end of September gross non-performing loans and advances amounted to BGN 4.12 billion (BGN 4.15 billion at end-June), and their share in the total gross loans and advances declined to 3.55% (from 3.64% at end-June).

Over the third quarter of 2024, the total deposits in the banking system grew by BGN 2.8 billion (1.8%) and reached BGN 155.0 billion at the end of September. The increase was mainly formed by growth in the deposits of households (up by BGN 1.4 billion, 1.7%) and of non-financial corporations (by BGN 1.0 billion, 2.2%).

At the end of September the liquidity coverage ratio was 244.1% (246.7% at end-June). The liquidity buffer grew to BGN 52.9 billion, and net liquidity outflows – to BGN 21.7 billion (from BGN 51.2 billion and BGN 20.8 billion, respectively, as of June 30).