Bulgaria's CCB cons net profit grows 33% y/y in Q1

The lender's net interest income went up 32% year-on-year to 55.4 million levs in the January-March period, CCB said in an interim financial statement on Thursday. At the same time, net fee and commission income declined to some 13 million levs from 13.8 million levs.

CCB's operating expenses widened to 36.5 million levs in the three months through March from 33.9 million levs in the comparable period of 2023.

Loans and advances to customers fell to some 3.25 billion levs at the end of March from 3.26 billion levs at the end of 2023, while deposits rose to 7.83 billion levs from 7.65 billion levs.

The bank's total assets climbed to 8.75 billion levs at the end of the review period from 8.53 billion levs at the end of last year. CCB was Bulgaria’s sixth-largest lender by assets at the end of March, according to central bank data.

As of 1340 CEST on Friday, shares in CCB traded flat at 1.63 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)