August 23 (SeeNews) - The value of Bulgarian banks' outstanding loans to the non-government sector inched up 0.003% year-on-year to 50.2 billion levs ($29 billion/25.7 billion euro) at end-July, recording its first annual growth since October 2014, data from the Bulgarian National Bank (BNB) showed on Tuesday.
Bulgarian banks' lending portfolio contracted 1.2% in 2015, following an 8.2% drop in 2014, when the country's fourth largest bank, Corporate Commercial Bank (Corpbank) collapsed after external auditors found a 3.75 billion lev capital blackhole.
However, lending to the non-financial sector remained on a downward trend, with corporate lending shrinking by an annual 0.6% to 30.5 billion levs at the end of last month and household credit declining 0.4% to 18.2 billion levs, data from BNB's monetary statistics report indicated.
The contraction in both corporate and household lending softened from 1.5% and 0.7%, respectively, in June.
At the same time, loans to financial corporations widened 23.1% year-on-year in July, decelerating from a 25% growth in June.
Details follow (in billions of levs, nominal change in percent):
|
July, bln levs |
July y/y |
June y/y |
Loans |
50,189 |
0.003 |
-0.6 |
-non-fin corporations |
30,492 |
-0.6 |
-1.5 |
- households |
18,229 |
-0.4 |
-0.7 |
--overdraft |
1,430 |
-6.8 |
-5.9 |
--housing loans |
8,734 |
0.6 |
0.2 |
--consumer loans |
7,279 |
-1.1 |
-1.3 |
--other loans |
787 |
7.9 |
4.9 |
-financial corporations |
1,468 |
23.1 |
25.0 |
source: BNB
(1 euro=1.95583 levs)