Banks' Profit Up 73.8% at End-December 2021, Y/Y

NW 12:20:02 01-02-2022

Banks' Profit
Up 73.8%
at End-December 2021, Y/Y

Sofia, February 1 (BTA) - The banking system's profit as at December 31, 2021 was 1.4 billion leva, which is by 601 million leva (73.8 per cent) more than the profit reported at the end of December 2020, the Bulgarian National Bank said.

The banking system's balance sheet total assets amounted to 135.4 billion leva as at December 31, 2021, with a 2.8 billion leva (2.1 per cent) increase compared to the end of September 2021.

Gross loans and advances decreased on a quarterly basis by 1.5 billion leva (1.8 per cent) to 82.4 billion leva. Compared to the end of September, claims on credit institutions registered a decrease by 3.7 billion leva (36.5 per cent) to 6.5 billion leva at the end of the period.

The gross loan portfolio of the banking system grew by 2.2 billion leva
(3.0 per cent) to 75.9 billion leva. An increase was reported in the loans to non-financial corporations (by 1.2 billion leva, 3.0 per cent), in loans to households (by 870 million leva, 3.0 per cent), and in those to other financial corporations (by 72 million leva, 1.4 per cent) and to the general government (by 71 million leva, 7.9 per cent).

At the end of December 2021, gross non-performing loans and advances amounted to 4,969 million leva, compared to 5,399 million leva at the end of September.

The deposits in the banking system grew during the fourth quarter by 2.1 billion leva (1.9 per cent) to 115.4 billion leva, mostly as a result of the increase in household deposits (by 2.0 billion leva, 3 per cent). Growth was also registered in the deposits of credit institutions (by 1.0 billion leva, 19.9 per cent) and of non-financial corporations (by 128 million leva, 0.4 per cent), while deposits of other financial corporations decreased by
677 million leva (15.0 per cent) and of the general government, by 309 million leva (9.2 per cent).