Households save another BGN 240 mln within a month

Bulgarian households continue to save their free money, Bulgarian National Bank (BNB) data showed. At the end of April, citizens’ deposits reached BGN 31.84 bn, or 13.6% more than a year earlier. Savings increased by nearly BGN 240 mln, compared to March 2012. In Q1 2012 alone, the deposited money of the population rose by BGN 897 mln, or by 34% over the same period of last year. In February alone, citizens saved BGN 200.49 mln and in March, deposits increased by another BGN 303.432 mln.

Alongside with the great saving of money on the part of businesses and households, however, BNB experts reported an increase in the extended loans. At the end of April, crediting which includes bank overdraft loans rose by 3.1% on an annual basis to BGN 53.32 bn.

Corporate loans increased to BGN 33.59 bn, or by 5.3% year-on-year and by almost BGN 50 mln on a monthly basis. Housing credits grew by 0.5% within a year to BGN 8.77 bn and consumer loans amounted to BGN 7.46 bn. However, this was 1% less than in April 2011.

Against this background, bad and restructured loans continued to go up, standing record-high at BGN 9.743 bn at the end of April 2012. Problem credits, excluding overdrafts, accounted for 23.43% of all extended loans, having increased by 0.08%, compared to March. In April, problem loans rose by BGN 74.25 mln and newly extended credits reached BGN 178.84 mln.

Firms remained “leaders” in terms of the share of bad loans. Restructured or overdue corporate credits amounted to BGN 6.23 bn, their share increasing record-high to 25.5%. The situation with household loans is alike. Some 19.82%, or BGN 1.48 bn of consumer credits were bad or restructured. The share of problem mortgages rose to 20.40% of the total.

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