The profits of Bulgarian banks compensate the losses from the crisis

The profits of banks compensate the losses from the height of the financial crisis. During the first three months of the year, they reported a positive financial result of BGN157 mln, compared to the profit of BGN 170 mln for the same period of last year and BGN 271 mln in January-March 2009, according to BNB (Bulgarian National Bank) data. This makes BGN 1.74 mln a day, while only in March the positive financial result was BGN 70 mln. The accumulated capital surplus was BGN 2.9 bn and the total capital adequacy ratio stood at 17.66 %, indicated further the National Bank.

In March, the observed downturn trend from the end of the previous year was confirmed. It relates to the decreased growth of classified assets (non-performing loans) since they increased with twofold lower pace than that in the last three months of 2010. The proportion of those with arrears of more than 90 days in terms of gross loans (excluding those extended for credit institutions) rose by 12.93%. The banks allocated another BGN 299 mln for covering the depreciation of assets, whereas in March merely, the projected sum was BGN 85 mln, indicated also the statistical data.

The generated financial and operating revenues in the first quarter provided coverage of both asset depreciation and the remaining costs of the banks. As regards the market shares and assets, there is no change in the first Top 5, involving UniCredit Bulbank, DSK Bank, United Bulgarian, Raiffeisenbank (Bulgaria) and Eurobank EFG. In late March, they held 53.9 % of the assets of the bank system. Nevertheless, BNB highlighted the stronger activity of the medium-sized and small banks, which again enhanced their market shares at the expense of the group of the largest institutions.

Прочети цялата новина

Свързани новини: