BTA :: Housing loans in Bulgaria grew by 22.7 percent at the end of March, and consumer loans

Housing loans grew by 22.7 percent and consumer loans by 13.2 percent at the end of March on an annual basis, according to BNB statistics published today.

According to the data, loans to households and NTOOD (non-commercial organizations serving households) amounted to BGN 40.071 billion (20.2 percent of GDP) at the end of March. Compared to the same month of 2023, they increased by 17.5 percent. At the end of March this year housing loans amounted to BGN 20.932 billion and grew by 22.7 percent on an annual basis. Consumer loans amounted to BGN 17.437 billion and increased by 13.2 percent compared to March 2023.

On an annual basis, other loans (including funds granted to owners’ associations under the National Program for Energy Efficiency of Multi-Family Residential Buildings) grew by 2 percent and reached BGN 410.2 million. Loans for employers and self-employed persons increased by 9.3 percent on an annual basis in March and at the end of the month were BGN 472.2 million.

Loans to non-financial enterprises grew by 8.2 percent on an annual basis in March and at the end of the month reached BGN 45.041 billion (22.7 percent of GDP). Loans granted to financial enterprises amounted to BGN 7.619 billion (3.8 percent of GDP) at the end of March. Compared to March last year, they increased by 19.5 percent.

At the end of March, total loans to the non-governmental sector (non-financial enterprises, financial enterprises, households and NTOOD) were BGN 92.732 billion (46.8 percent of GDP) compared to BGN 91.732 billion as of February (46.3 percent of GDP) . In March, they increased on an annual basis by 12.9 percent. The change in the amount of loans to the non-governmental sector was also influenced by the net sales of loans from Other monetary and financial institutions (credit institutions and money market funds), whose volume for the last twelve months was BGN 110.3 million, the BNB notes.

At the end of March, the deposits of the non-governmental sector amounted to BGN 128.755 billion (65 percent of GDP), and their annual increase was 8.3 percent.

Deposits of non-financial enterprises were BGN 43.326 billion (21.9 percent of GDP) at the end of March. Compared to the same month of 2023, they increased by 5 percent. Deposits of financial enterprises decreased by 12.3 percent on an annual basis in March and at the end of the month reached BGN 3.868 billion (2 percent of GDP). Deposits of households and NTOOD were BGN 81.560 billion (41.2 percent of GDP) at the end of March, which is an increase of 11.5 percent on an annual basis.