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© Bulgarian National Bank |
In the first month of 2008, the total assets in the banking system marked a decrease under the impact of seasonal factors. In January the balance sheet total of the system decreased by BGN 2.1 billion down to BGN 57 billion after the intensified bank activities at the end of 2007. In the month under analysis, the greatest reduction in absolute terms is evidenced in the loans and receivables (including financial leases) and in the cash and cash balances with central banks. A drop is also reported in two of the securities portfolios – by the financial assets available for sale and by those held for trading. The dynamics of balance sheet assets is determined by the changes in the group of five leading credit institutions. The reduction reported by the Group 1 banks has resulted in a slight contraction of their share in the balance sheet total of the banking system, which was 55.9% as of end-January. Compared to the same month of the previous year, the assets of the banking sector have increased by BGN 15.7 billion (38.2%).
The gross loans and advances registered a 2.1% monthly drop, thus amounting to BGN 44.9 billion. After the December peak of loans and advances to credit institutions, as of end-January they decreased to BGN 6.3 billion. As of 31 December 2008, the loans and advances to corporate clients on the balance sheets of the banking sector amount on gross basis to BGN 24.6 billion (a monthly growth of 1.3%). The retail exposures in the system are BGN 13.3 billion, whereas consumer loans have increased by 2.9%, and mortgage loans – by 2.6% against December. The loan quality remained good. Compared to December 2007, classified exposures registered a slight reduction in absolute terms. This is also impacted by the fact that branches of foreign banks are already excluded from the scope of classified exposure aggregated data. The supervision reporting regime with regard to credit institutions licensed in another EU Member State, or established in a third country as their home country, pursuing Business in Bulgaria through a branch has been eased since 1 January 2008.
In January the financial liabilities measured at amortized cost (attracted funds) decreased by BGN 2.2 billion, and against the same period of the previous year they have increased by BGN 13.9 billion (38.5%). The monthly decrease is the result of the reduction in the resources of credit institutions by BGN 1.4 billion, and those of institutions other than credit ones – by BGN 1.1 billion. Opposite to those, the deposits of individuals and households registered a 1.4% increase, and became the most significant source of funds as of end-January with a 38.5% share in the total amount of the attracted funds in the system.
As of 31 January 2008, the balance sheet aggregate total capital was BGN 6.3 billion.
In January the banking system realized a profit of BGN 111 million.
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