Banks' Profits up by 400% in June

Banks' Profits up by 400% in June

In June, in the midst of checking the quality of assets and the stress tests, the profit of the banks in Bulgaria increased by 328.8% month-on-month and 381.2 percent year-on-year to 271.41 million levs, according to calculations of based on BNB data.
As a comparison, in May 2016, banks earned 63.3 million levs, while in June 2015 just 56.4 million levs.
For the first six months of this year, banks have made a total profit of BGN 773.475. This is 52% or 270 million levs over the results of the first half of 2015.
The good results are mainly due to higher gains from financial assets available for sale, the lower depreciation and reduced interest expense, nominated by BNB.


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