Bulgarian Development Bank Reports 35% Increase in Net Profit Y/Y

Bulgarian Development Bank Reports 35% Increase in Net Profit Y/Y

The Bulgarian Development Bank (BDB) reported a net profit of 23.7 million levs, up by 35% on the year, for the first nine months of 2014.
The BDB reported increased profit from its core business against the backdrop of lower interest rates on its loans.
Administrative costs of the BDB fell by 18% and the costs related to loan impairment charges and other credit risk provisions decreased by around 1/3, according to a media statement of the BDB, as cited by investor.bg.
Spasov informed that the financial results provided the BDB greater opportunities for supporting small and medium-sized enterprises through specific instruments.
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