Bulgarian Banking Sector Still Profitable Despite Rising Share of Bad Loans
Thursday, 01 January 1970
Bulgaria's banking sector has shown flexibility and has managed to generate profit despite the complicated economic situation and the increased share of bad loans, the central bank governor Ivan Iksrov said.
"Despite the worsened quality of the credit portfolio, our banks managed to maintain significant capital buffers," Iskrov said in a speech, released on central bank's website on Tuesday.
He added that the size of the banks' provisions had exceeded 4.5 billion levs ($3.1 billion/2.3 billion euro) by October.