Banks in Bulgaria halve combined net profit in 2020

Banks in Bulgaria halve combined net profit in 2020

The combined net profit of the banks operating in Bulgaria dropped to 814.7 million levs ($501.5 million/416.6 million euro) in 2020 from 1.67 billion levs in 2019, the country's central bank said.

The banking sector's net operating revenue fell to 4.16 billion levs last year from 4.23 billion levs in 2019, the Bulgarian National Bank (BNB) said in a monthly report on the performance of the country's banks, published last week.

Gross interest income of banks in Bulgaria edged down to 3.00 billion levs in 2020 from 3.03 billion levs in 2019. Gross fee and commission income decreased to 1.24 billion levs from 1.32 billion levs.

The banks' total assets increased to 124 billion levs at the end of 2020, up from 114.2 billion levs a year earlier.


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