Bulgaria's CBA Asset Management grows cons net profit 45% in 2023

The company's operating revenue rose to some 1.08 million levs last year from 911,000 levs in 2022, CBA Asset Management said in a financial statement.

Sales generated 276,000 levs, mainly through renting out own real estate. In addition, CBA Asset Management booked revenue from joint control over another company of 695,000 levs and received a dividend of 75,000 levs from this company.

Meanwhile, operating expenses in the review period widened to 236,000 levs from 223,000 levs the previous year on the back of higher costs for hired services and remuneration.

The company's assets stood at 17.8 million levs at the end of 2023, up from 17.2 million levs a year earlier.

Shares in CBA Asset Management last traded on February 7 when they closed at 1.78 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)