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Bulgaria's Banking System Stable, Corporate Lending on the Rise
Date: 01/06/2011
Bulgaria's Banking System Stable, Corporate Lending on the Rise

Data on Bulgaria's banking system as of April 30, 2011, has indicated no negative change in its financial stability, according to the latest report of the Bulgarian National Bank (BNB).

April has marked the highest monthly growth of corporate lending in Bulgaria since the beginning of 2011.

BNB data shows that the liquid asset ratio, as calculated under BNB Ordinance 11, preserved its high level at 23.70%.

"The liquidity position of individual credit institutions remained adequate. Developments in the credit risk level were within the range evidenced since the beginning of the year. The rates of increase of impairment costs and credit risk specific provisions were similar to those registered in January. In aprevailing part of banks, operating revenue exceeded operating expenses and impairment costs," the Bulgarian National Bank said in a statement.

As of 30 April, the profit of the Bulgarian banking system was BGN 214 M, i.e. BGN 57 M more than at the end of March.

Within the month, total assets remained in the amount of BGN 74.2 B. A decrease was reported in the cash funds (by BGN 334 M) and in the financial assets available for sale (by BGN 392 M). It was compensated by the increase in loans and advances (BGN 513 M) and in the remaining securities portfolios (BGN 135 M).

Gross loans (excluding those to credit institutions) registered a growth of BGN 228 M (0.4%) entirely owing to the impact of small and medium banks' lending activity.

The 0.8% growth in corporate lending reported in April was the biggest monthly increase since the beginning of the year.

There is no change in terms of lending to the population – the 0.2% growth of mortgage loans was accompanied by another, though minimal, decrease in the consumer segment (below 0.1%).

Attracted funds were reduced by BGN 128 M. In parallel with the BGN 388 M decrease in resources from credit institutions (mainly nonresident ones), other sources of financing continued to increase.

Monthly growth rates of resources attracted from individuals and households (0.5%) and from institutions other than credit ones (0.4%) were below the levels reported in the first three months of the year.

At the end of April, deposits from the population had a 45.6% share in the total amount of attracted resources.

Compared to March, the balance sheet capital remained unchanged at BGN 10.2 B.

Topic: Financial

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