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The lion will not depreciate.
Banks’ profit for the first three months of the year was BGN 296 million, a decrease of BGN 13 million (4.2%) compared to the same period last year, BNB announced. The cost of the impairment of the loan from January to March was BGN 153 million (against BGN 86 million a year earlier).
Loans granted by banks in the first quarter increased by BGN 700 million to BGN 67 billion. Loans for households increased (in BGN 478 million, 2%), as well as for non-financial corporations (in BGN 307 million, 0.8%).
Bank deposits at the end of March amounted to BGN 97.5 billion, increasing by BGN 300 million in the first quarter. Household deposits increased (by BGN 544 million, 0.9%), by government sector management (by BGN 233 million, 8.8%), as well as those of other financial companies (by BGN 204 million, 5.9%) as pension funds , insurers and mutual funds. Non-financial corporations deposits decreased (in BGN 589 million, 2.1%).
Banks are much better prepared now than in the 2008 crisis, BNB Governor Dimitar Radev told the BBC. But, on the other hand, the scale and depth of the crisis may now be much greater than in 2008, he added. There will be no depreciation of the lev before our entry into the so-called Eurozone waiting room, the BNB governor stood firm.
Today, BNB presented its 2019 annual report to Parliament. It shows that the BNB Governor’s salary is BGN 16,849, that of the Deputy Governors is BGN 14,442 and that of the other members of the BNB Governing Board – BGN 4814.
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