The profit of the banking system at the end of July 2022 amounted to BGN 1.2 billion, the amount is BGN 400 million (49.7%) greater than that reported for the seven months of 2021. This is clear from the latest data for the state of the banking system, published by the Bulgarian National Bank (BNB).
Equity in the balance sheet of the banking system at the end of July was BGN 16.6 billion and compared to the end of June it increased by BGN 233 million (1.4%), which is mainly due to the increase in profit during the period.
Banks in our country earned BGN 1 billion in six months
Both loans and deposits in the banking system are increasing
Total gross loans and advances in July increased by BGN 5.5 billion (6.1%) to BGN 95.3 billion. Claims from credit institutions made the main contribution, which grew by BGN 4.2 billion (47.3%) and amounted to BGN 13 billion at the end of July, the BNB notes.
The gross credit portfolio of the banking system recorded a monthly increase of BGN 1.3 billion (1.6%) to BGN 82.3 billion. Loans to non-financial enterprises (by BGN 612 million, 1.4%), to households (by BGN 420 million, 1.3%), to other financial enterprises (by BGN 235 million, 4.2%), as well as those for the public administration sector (with BGN 27 million, 3.1%).
The banks’ profit “jumped” by 24.3% in a year, the BNB explains why
The equity capital of the banking system at the end of May reached BGN 16.3 billion
Compared to the end of June, deposits in the banking system increased by BGN 2.9 billion (2.4%) to BGN 124.7 billion. Deposits of companies (by BGN 1.3 billion, 3.4%), of households (by BGN 842 million, 1.2%), of other financial enterprises, such as insurers and pension insurance companies (by BGN 214 million, 5.4 %), as well as those of the public administration sector (with BGN 178 million, 5.0%) and credit institutions (with BGN 429 million, 6.2%).