site.btaBanking System Profit Amounts to BGN 3.7 Billion in End-December 2024

The profit of the banking system in Bulgaria reached BGN 3.7 billion, as of December 31, 2024, which is an increase of BGN 278 million (8.1%) compared to 2023, Bulgarian National Bank (BNB) reported on Friday.

In 2024, the net interest income increased by BGN 720 million (14.9%), reaching BGN 5.6 billion by the end of December. Net income from fees and commissions also rose by BGN 145 million (9.9%), reaching BGN 1.6 billion.

In the fourth quarter of 2024, the assets of the banking system grew by BGN 9.2 billion (5%), totaling BGN 191.6 billion by December 31. Gross loans and advances increased by BGN 4.3 billion (3.7%) to BGN 120.6 billion. Claims from credit institutions grew by BGN 377 million (3.9%) to BGN 10 billion.   

The banking system’s gross credit portfolio (which includes loans to non-financial enterprises, households, other financial enterprises, and government), there was a quarterly increase of BGN 4 billion (3.8%), reaching BGN 110.6 billion at the end of December. Loans to households grew by BGN 2.1 billion, including BGN 1.7 billion secured by real estate. Loans to non-financial enterprises increased by BGN 1.8 billion (3.5%), and loans to other financial enterprises rose by BGN 267 million (3.1%). However, loans to the government sector decreased by BGN 99 million (10.5%).   

In the fourth quarter, deposits in banks increased by BGN 7.9 billion (5.1%), reaching BGN 163 billion by the end of December. Deposits from households grew by  BGN 4.3 billion (4.9%), from credit institutions by BGN 2.4 billion (20.9%), from non-financial enterprises by BGN 1.3 billion (2.8%), and from other financial enterprises by BGN 492 million (13%). Deposits from the government sector decreased by BGN 633 million (16.8%).