Skip to content

Bulgaria's Default Bank Loans Hit 16%

1 min read Source: Novinite

From our news archive: this article was published in August 2010. Figures and rules may have changed since.

The default bank loans in Bulgaria have reached 16% by the end of July, according to data from Bulgaria’s Central Bank, BNB.

The total amount of the so-called bad loans is estimated at BGN 6.2 B and went up by BGN 334 in the month of July, compared to BGN 198 M June, 2010. The record of BGN 424 M, however, was registered in April, 2010.

According to the data, corporate default loans top the list (17%), followed by consumer loans (16%) and mortgages (14%).

The total amount of loans in Bulgaria in July is about BGN 51 B (75% of the Gross Domestic Product) with an annual increase of 2.4%. Households have BGN 19 B of them. In June the amount was BGN 51 B.

By the end of July bank deposits were BGN 41 B and about the same in June, 2010. Of them BGN 26 B belong to households.

The annual increase of deposits – July 2010 compared to July 2011 is 8.4%.

Originally published by Novinite.

Financial

Bulgarian Stock Market Catches Whiff of Optimism

Investor interest in the Bulgarian Stock Exchange (BSE) returned slowly and feebly on Thursday when the benchmark index SOFIX finished almost 1% higher at 387.18 points a...

Financial

Bulgaria Sells State Bonds Big

The Bulgarian National Bank announced a major sale of EUR 61.5 M worth of state bonds, exceeding more than four times the initially planned amount. The average profitabil...