Bulgaria's Texim Bank Q1 non-cons net profit falls 10% y/y

The lender's net interest income grew to 3.85 million levs in January-March from 3.49 million levs a year earlier, Texim Bank said in an interim financial statement at the end of last month. At the same time, net fee and commission income climbed to 1.33 million levs from some 1.24 million levs.

Texim Bank's administrative expenses grew by an annual 13% to some 4 million levs in the first three months of this year, while its amortisation costs were little changed at 944,000 levs.

Loans and advances to customers went up to 218.8 million levs at the end of March from 213.4 million levs at the end of 2023, while customer deposits dropped to 520.6 million levs from some 568.5 million levs, the lender said.

Texim Bank was the 16th largest lender by assets among 23 banks doing business in Bulgaria as of end-March, according to the most recent central bank data. The bank's assets amounted to some 629.6 million levs at the end of March, down from 644.8 million levs at the end of last year, the statement showed.

Shares in Texim Bank last traded on May 2 when they closed at 3.50 levs on the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)