Profit of Bulgarian Banks Grew by BGN 47 M Y/Y in Feb 2015

Finance | April 1, 2015, Wednesday // 11:46|  views

Bulgarian National Bank headquarters, photo by BGNES

In February 2015 the profit of the banking system was BGN 196 million, up by BGN 47 million on the year, according to the Bulgarian National Bank (BNB).

In the February 2015 the banking system’s liquidity position continued to build up and the balance sheet capital and deposit base grew.

In February 2015 liquid assets increased and the liquidity ratio, as calculated under BNB Ordinance No. 11, reached 32.85%.

The accumulated impairment of loans and receivables at the end of the month amounted to BGN 110 million and was similar to the impairment reported a year earlier.

Total assets increased in February by BGN 307 million (0.4%).

In February 2015, an increase by BGN 4 billion (33.9%) was registered in cash, balances at central banks and other demand deposits due to the transformation of assets and the share of this item in the balance sheet total reached 18.4%.

The balance sheet item of loans and receivables amounted to BGN 57.7 billion as of end-February 2015.

Investments in securities increased by BGN 363 million (3.3%) on the month, reaching a share of 13.0% in total assets.
Bulgarian government securities and foreign debt instruments increased.

In February 2015 the loan portfolio saw a decrease in loans to corporations (by BGN 113 million, 0.3%) and in retail exposures (by BGN 39 million, 0.2%).

Loans to non-credit institutions and to central governments increased slightly.

Financial liabilities measured at amortised cost grew by BGN 123 million (0.2%).

The increase in attracted funds during the month was due to the growth of deposits of individuals and households (by BGN 331 million, 0.8%).

Resources attracted from institutions other than credit institutions decreased by BGN 160 million (0.7%), and those from credit institutions – by BGN 12 million (0.2%).

The share of funds attracted from resident sources remained relatively unchanged.

As of end-February 2015, the balance sheet capital of the system was BGN 11.1 billion, up by BGN 89 million (0.8%) on the month mainly due to the increased profit.

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Tags: Bulgarian National Bank, BNB, banking system


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