Bad Credits in Bulgaria Jump by BGN 512 M in June 2009

Bad credits are generally described as the ones not paid for over 90 days. File photo

The amount of bad credits in Bulgaria increased significantly by BGN 512 M only in June 2009, month-on-month.

This was the biggest rise since the beginning of 2009, reports provided Friday by the Bulgarian National Bank showed.

However, the overall share of the bad credits is still low - 4-5%, annalysts said. In banker's opinion, the levels of those types of credits are still within the normal limit.

Bad credits are generally described as the ones not paid for over 90 days. Since January 2009, the average increase has been around BGN 200 M per month, which has not disturbed the financial institutions.

In June, BGN 295 of the total amount of bad credits was from business loans, BGN 106 M - hosing credits, and BGN 86 M were consumer loans.

 

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