Bulgaria's Texim Bank grows non-cons net profit fourfold in 2023

The lender's net interest income jumped by an annual 49% to 15.6 million levs last year, Texim Bank said in an annual financial statement last week. Net fee and commission income went up to some 4.5 million levs in the review period from 4 million levs a year earlier.

Texim Bank's administrative expenses widened by 12% year-on-year to roughly 15 million levs in 2023, whereas its amortisation costs were little changed at 3.8 million levs.

Loans and advances to customers grew to 213.4 million levs at the end of last year from 202.7 million levs at the end of 2022, while customer deposits increased to 568.5 million levs from 525.4 million levs, the lender said.

Texim Bank was the 16th largest lender by assets among 23 banks doing business in Bulgaria as of the end of December, the latest central bank data show. The bank's assets stood at some 644.8 million levs at the end of 2023, up from 596.9 million levs the prior year.

As of 1500 CET on Monday, shares in Texim Bank traded flat at 3.46 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)