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Bulgaria's Default Bank Loans Hit 16%
Date: 25/08/2010
Bulgaria's Default Bank Loans Hit 16%

The default bank loans in Bulgaria have reached 16% by the end of July, according to data from Bulgaria’s Central Bank, BNB.

The total amount of the so-called bad loans is estimated at BGN 6.2 B and went up by BGN 334 in the month of July, compared to BGN 198 M June, 2010. The record of BGN 424 M, however, was registered in April, 2010.

According to the data, corporate default loans top the list (17%), followed by consumer loans (16%) and mortgages (14%).

The total amount of loans in Bulgaria in July is about BGN 51 B (75% of the Gross Domestic Product) with an annual increase of 2.4%. Households have BGN 19 B of them. In June the amount was BGN 51 B.

By the end of July bank deposits were BGN 41 B and about the same in June, 2010. Of them BGN 26 B belong to households.

The annual increase of deposits – July 2010 compared to July 2011 is 8.4%.

Topic: Financial

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