site.btaBanks' January-September 2022 Profit Up by 37.4%, Y/Y

The total profit of the Bulgarian banking system from January 2022 until September 2022 amounted to BGN 1.5 billion, increasing by BGN 408 million (37.4%) compared to the like period in 2021, the Bulgarian National Bank reported on Monday. 

In Q3 of 2022, the assets of the banking system totaled BGN 148.9 billion, growing by BGN 6.8 billion (4.8%).

Compared to end-June 2022, the gross loan portfolio of the banking system grew by BGN 3.0 billion (3.7%) to BGN 84 billion, while claims on credit institutions increased by BGN 199 million (2.2%) to BGN 9.0 billion.

In the same quarter, loans to households rose by BGN 1.3 billion (4.2%), as did those to non-financial corporations, by BGN 1.2 billion (2.7%), and those to other financial corporations, by BGN 459 million (8.2%). Loans to the general governments sector also increased, by BGN 68 million (7.7%).

At the end of September 2022, the gross amount of non-performing loans and advances was BGN 4.737 billion (BGN 4.710 billion at end-June), and their share in the total gross loans and advances was 5.09% (5.24% at end-June). When the indicator is presented in its broader scope (including cash balances at central banks and other demand deposits), the share of the gross non-performing loans and advances is 3.94% at the end of September (4.10% at the end of June). The net value of non-performing loans and advances (after deduction of the impairment inherent to them) at the end of the reporting period was BGN 2.383 billion (BGN 2.436 billion at the end of June), and its share in the total net loans and advances was 2.66% (2.82% at end-June).

During the third quarter of 2022, the deposits in the banking system grew by BGN 6.4 billion (5.2%) to BGN 128.2 billion. There was an increase in the deposits of households and of non-financial corporations by BGN 1.7 billion (2.5%) and BGN 4.0 billion (10.5%), respectively. Compared to the end of June, the deposits of credit institutions and those of other financial corporations grew by BGN 482 million (7.0%) and by BGN 32 million (0.8%), respectively. The deposits of the general governments sector rose by BGN 128 million (3.6%) over the quarter.

At the end of September 2022, the total equity in the balance sheet of the banking system was BGN 16.6 billion, increasing by BGN 320 million (2.0%) from end-June, which was due to the growth in profit during the period.