Bulgarian Development Bank's Net Profit Up 44% Y/Y in Q1

Bulgarian Development Bank's Net Profit Up 44% Y/Y in Q1

The state-run Bulgarian Development Bank (BDB) said its net profit totalled 14.7 million levs ($10.4 million/7.5 million euro) in the first quarter of 2014, up 44% on the year.

In the three months through March BDB provided loans totalling 101 million levs to the local business, it said in a press release.

By the end of March, the bank's loan portfolio totalled 979 million levs, including 652 million levs in loans to corporate clients and 327 million levs to commercial banks.

The bank's assets totalled 1.72 billion levs at the end of March.

BDB’s focus is on support for local SMEs, export-oriented companies and public projects of national significance.

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