Bulgaria's CCB nearly quadruples 9-mo cons net profit

The lender's net interest income grew by an annual 44% to 138.5 million levs in the nine months through September, CCB said in an interim financial statement on Tuesday. Net fee and commission income was little changed at 42.5 million levs.

Total after-tax comprehensive income came in at some 84.6 million levs in the first nine months of 2023, compared to 8.3 million levs in the prior-year period.

At the same time, operating expenses widened to 116 million levs from 114.7 million levs.

Loans and advances to customers climbed to some 3.29 billion levs at the end of September from 3.27 billion levs at the end of 2022, while deposits increased to 7.48 billion levs from 7.34 billion levs.

The bank's assets jumped to 8.34 billion levs at the end of the review period from 8.12 billion levs at the end of last year. CCB was Bulgaria’s sixth-largest lender by assets at the end of October, according to the latest central bank data.

As of 1000 CET on Friday, shares in CCB traded flat at 1.52 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)