site.btaBanking System's Profit Up BGN 17 Mln at End-October, Y/Y

As of 31 October 2024, the profit of the Bulgarian banking system was BGN 3.0 billion, which is by BGN 17 million (0.6%) higher than the profit reported for the same period of 2023, the Bulgarian National Bank (BNB) said in press release here on Friday.

At the end of October 2024, the assets of the banking system were BGN 182.4 billion, marking a slight increase (by BGN 32 million, 0.02%) from end-September 2024.

The liquidity coverage ratio as of October 31, 2024, was 255.7% (244.1% as of September 30). The liquidity buffer was BGN 49.4 billion, and the net liquidity outflows were BGN 19.3 billion (BGN 52.9 billion and BGN 21.7 billion, respectively, at the end of September).

Total gross loans and advances at end-October were BGN 118.0 billion, increasing by BGN 1.71 billion (1.5%) on a monthly basis. Claims on credit institutions increased by BGN 428 million (4.4%) to BGN 10.1 billion, and the gross loan portfolio grew by BGN 1.4 billion (1.3%) to BGN 107.9 billion. Loans to households increased (by BGN 800 million, of which BGN 598 million collateralized by residential immovable property), as well as loans to non-financial corporations (by BGN 658 million, 1.3%). Loans to other financial corporations decreased (by BGN 67 million, 0.8%), as well as those to the general governments sector (by BGN 20 million, 2.1%).

The total deposits in the banking system at end-October were BGN 154.7 billion, which is a decrease of BGN 354 million (0.2%) during the month. Deposits of credit institutions decreased by BGN 1.1 billion (9.6%), of the general governments sector – by BGN 229 million (6.1%) and of non-financial corporations – by BGN 19 million (0.04%). Deposits of households grew (by BGN 998 million, 1.1%) as did those of other financial corporations (by BGN 5 million, 0.1%).

The total equity in the balance sheet of the banking system at the end of October was BGN 22.4 billion and increased by BGN 338 million (1.5%) on a monthly basis. The growth was mainly attributable to the profit during the month.