Bulgarian Banks Profits On The Rise

In February the profit of Bulgarian banks rose by BGN 77 M and for the first two months of 2014 reached BGN 149 M, shows Central Bank (BNB) data. 

This is the third consecutive month with increasing profits. The growth is mostly thanks to lower expenses on bad credits and decreasing interest rates. 

According to recent data, in February the interest ratings on saving accounts reached record low levels – for private citizens they are an average of 3.66% per year.  

The BNB data shows that there is a slow recovery of company credits, but consumer credits are still sluggish. 

In February the corporate credits grew by 1%, to BGN 369 M, the consumer credits decreased by BGN 23 M and mortgages – by BGN 17 M.