Bank profits decrease to their 2005 levels

At the end of last year, the profits of banks in the country returned to their 2005 levels, according to data of the Bulgarian National Bank. Banks ended the year with positive financial results of BGN 586 mln. A similar result was recorded six years ago – BGN 584 mln, but in all other years of the mentioned period profits were higher. Overall 9 out of 31 banks in Bulgaria reported losses. In 2011, Alpha Bank recorded the greatest negative result of BGN 44.05 mln, followed by the Bulgarian American Credit Bank with BGN 34.21 mln. The Emporiki Bank ranked third with a loss of BGN 11.25 mln.

UniCredit Bulbank achieved the largest profit of BGN 232.04 mln. The difference between the first and the second bank in the ranking was BGN 146.7, since DSK Bank reported a positive financial result of just BGN 85 mln, followed by Corporate Commercial Bank with BGN 60 mln.

The practice of saving money for a rainy day, however, continues. Households and companies deposited the total of BGN 1.4 bn in the last three months of 2011 and the amount of BGN 2.6 bn in the entire 2011. Thus the share of the local resources in the total attracted capital of banks increased and at the end of December 2011 it stood at 80.7%.

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