Bulgaria's Texim Bank nearly doubles 9-mo cons net profit

The bank's net interest income jumped to 11.2 million levs in the nine months through September from 7.4 million levs in the prior-year period, Texim Bank said in an interim financial statement on Monday. Net fee and commission income rose to 3.9 million levs in the review period from 3.6 million levs a year earlier.

Texim Bank's administrative costs went up 13% year-on-year to some 11.4 million levs in the first nine months of 2023, while its amortisation expenses were little changed at 2.8 million levs.

Loans and advances to customers climbed to 210.9 million levs at the end of September from 203.2 million levs at the end of last year, whereas customer deposits grew to 534.8 million levs from 525.3 million levs, Texim Bank said.

Texim Bank was the 16th largest lender by assets among 24 banks doing business in Bulgaria as of the end of September, according to the latest central bank data. The lender's assets stood at some 608.4 million levs at end-September, up from 597.2 million levs at the end of last year, the statement showed.

Shares in Texim Bank last traded on Monday when they closed at 3.40 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)