Banking System Posts Little Over 1 Billion Levs in Profit in January-August
Monday, 03 October 2016
In August the deposits, profit and balance sheet capital of the banking system continued to grow, the Bulgarian National bank reported. The liquid assets ratio remained high at 37.58 per cent.
At the end of the month the amount of liquid assets reached 29 billion leva with cash and cash balances at the BNB (48.7 per cent ) continuing to dominate their structure. As of August 31 the banking system's profit stood at 1,040 million leva, or 327 million leva more than the one realised for the eight months of the previous year. The impairment costs on loans and receivables accumulated from the beginning of 2016 amounted to 426 million leva (against 535 million leva for the same period of last year).
Compared to the end of July, the banking system's assets increased by 0.8 per cent, to 90.1 billion leva. Cash and cash balances at central banks and other demand deposits grew by 3.5 per cent (595 million leva), their share in total assets rising to 19.5 per cent.
The total balance sheet amount of loans and advances stayed almost unchanged, while its share in the assets decreased to 61.4 per cent.