Banks net a profit of BGN 561 mln for the first 10 months of 2012

The total profit of the banking sector in Bulgaria for the first 10 months of 2012 reached BGN 561 mln, reporting an increase of BGN 57 mln, compared to September, showed Bulgarian National Bank (BNB) data. Attracted funds were BGN 331 mln (0.5%) less than in September due to the decrease in the resource both from credit institutions (BGN 371 mln) and from other institutions (BGN 141 mln). At the same time, bank deposits of individuals and households registered an increase of BGN 152 mln. The share of domestic resources in the total amount of attracted funds remained unchanged at 81.8% at the end of October.

The ratio between liquid assets and total liabilities increased to 26.38%, compared to the previous month and the level of this indicator shows high liquidity capacity. The dynamics in the financing resources does not affect the liquidity position of the banking system. In October, the balance capital of the banking sector increased by 0.7% (BGN 71 mln) due to the current financial result and the higher revaluation reserves.

However, there were no significant changes in the market position of groups of banks and individual lenders. UniCredit Bulbank remained the leader in terms of assets, followed by DSK Bank, First Investment Bank, Raiffeisenbank (Bulgaria) and United Bulgarian Bank.

The additional devaluation conducted during the month, amounting to BGN 105 mln, is fully covered by the net interest income (BGN 218 mln) and the net income from fees and commissions (BGN 71 mln).

The amount of gross credits (excluding those to credit institutions) remained unchanged, compared to the end of September – BGN 57.bn. Retail exposures decreased by 0.2% due to the contraction of consumer and mortgage loans - BGN 28 mln and BGN 10 mln, respectively. Non-credit institutions also reported a decrease (0.5%).

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