January 3 (SeeNews) - The combined net profit of Bulgarian banks rose to 1.28 billion levs ($690.9 million/655 million euro) in the first eleven months of 2016 from 931 million levs in the January-November period of the previous year, according to central bank data.
The banks' combined interest income dropped to 3.0 billion levs in January-November 2016, which compares to 3.3 billion levs in the first eleven months of 2015, figures posted on the website of the Bulgarian National Bank show.
Fee and commission income for the review period rose to 968.2 million levs, from 933 million levs in the corresponding period of 2015.
Total interest expenses in the review period dropped to 461.3 million levs, from 823 million levs in the first eleven months of 2015.
Administrative expenses in the January-November period of 2016 decreased to 1.43 billion levs, from 1.64 billion levs in the corresponding period of 2015.
Impairment costs on loans and receivables decreased to 678 million levs in the first eleven months of 2016, from 739 million levs a year earlier.
The banking sector's total net operating revenue in the first eleven months of 2016 increased year-on-year to 3.74 billion levs, from 3.6 billion levs in 2015.
The banks' total assets increased to 91.45 billion levs at the end of November, from 86.25 billion levs a year earlier.
A total of 22 banks and five branches of foreign banks operated in Bulgaria as of end-November 2016.
(1 euro=1.95583 levs)