Problem loans increase by another BGN 124 mln, reaching a record-high of BGN 9.21 bn in January

The decrease in bad and restructured credits registered at the end of last year failed to become a persisting trend and soared to the record-high BGN 9.21 bn at the beginning of 2012, Bulgarian National Bank (BNB) data showed. Problem loans already account for 22.35% of all bank credits, excluding overdrafts where no delayed payments have been reported. In absolute terms, the monthly increase is of BGN 124 mln. According to BNB's methodology, the indicator includes both non-performing exposures (for a period of 91 to 180 days), losses (overdue payments for more than 180 days) and restructured loans.

According to bankers, the adverse tendency of bank assets’ deterioration has not come to an end yet. Experts of UniCredit predicted in their analysis that non-performing loans with delayed payments by more than 90 days will soar to a record-high of between 17.5% and 19% in Bulgaria at the end of 2012 or the beginning of 2013.

At the beginning of the year, problem corporate loans were again ‘champions’ in terms of growth, having increased by BGN 131 mln to BGN 5.76 bn within a single month. Their share in the total amount of extended credits is already 24%.

The downward trend in household credits from 2011 continued during the first month of 2012, the decrease on an annual basis being 0.8%. It is mainly due to the 9.6% decline in overdrafts. Consumer loans also registered a decrease of 1.1% in a year, while mortgage credits rose by 0.8%, totaling BGN 8.767 bn. Non-performing and restructured consumer loans declined by BGN 172 mln to BGN 1.46 bn and their total share was 19.74%.

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