Bulgarian banks' net profit jumps 59% y/y in Jan

The banking sector's net operating income stood at 603.8 million levs at the end of January, the Bulgarian National Bank (BNB) said in a monthly report on the banking sector's performance. In the same month of 2023, banks in Bulgaria booked a net operating income of some 501.9 million levs.

Gross interest income of banks in Bulgaria leapt by an annual 31% to 565.8 million levs in the review month. At the same time, gross fee and commission income grew to 159.2 million levs from 144.3 million levs.

The banks' total assets amounted to 172.5 billion levs at the end of last month, up 0.2% month-on-month and 10.4% higher compared to January 2023.

Gross loans and advances in the review month totalled 114.4 billion levs, rising by 7.6% in monthly terms. The gross loan portfolio of the Bulgarian banking system amounted to 97.8 billion levs at the end of last month, compared to 86.5 billion levs a year earlier.

Compared to end-2023, growth in household loans was the highest, at 1.1%, whereas loans to the general governments sector recorded a 20.3% drop.

At the end of January, deposits in the banking system reached 147.4 billion levs, or 0.05% higher than a month earlier.

The highest increase in deposits was posted by other financial corporations - at 13.3%, followed by the general governments sector with 2.2%. At the same time, deposits of non-financial corporations went down 2.1%, data showed.

(1 euro = 1.95583 levs)