Home loans taken out double the savings – Lending

Home loans taken out double the savings – Lending
Home loans taken out double the savings – Lending
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The growth of loans taken out for the purchase of a home seriously outstrips that of people’s savings in banks, BNB data show.

Household deposits are now BGN 81,560 billion.

at the end of March 2024. They increased by 11.5% compared to the same month of 2023, with 10.8% annual growth in February 2024.

At the same time, loans withdrawn from citizens amounted to BGN 40.071 billion.and compared to the same month of 2023, they increased by 17.5% (17.1% annual increase in February 2024).

At the end of March 2024, housing loans amounted to BGN 20.932 billion and grew by 22.7% on an annual basis (22% annual increase in February 2024). Consumer loans amounted to BGN 17.437 billion and increased by 13.2% compared to March 2023.

What will happen to the interest on the loans

However, firms save much less than households, BNB data show. Business deposits were BGN 43.326 billion (21.9% of GDP) at the end of March 2024. In a year, they increase by a modest 5%.

Deposits of financial enterprises decreased by 12.3% on an annual basis and at the end of the month they reach BGN 3.868 billion.
Loans to companies grew by 8.2% per year and are now over BGN 45 billion.

Loans taken by Employers and self-employed individuals increased by 9.3% on an annual basis in March 2024 (6.7% annual increase in February 2024) and at the end of the month were BGN 472.2 million.

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