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The total amount of claims on loans of corporations specializing in lending* was BGN 2.817 billion (4.3% of GDP**) at the end of December 2008. It increased by BGN 782.1 million (38.4%) compared to the end of December 2007, when their amount was BGN 2.035 billion (3.1% of GDP). It increased by BGN 117 million (4.3%) compared to the end of September 2008. The claims on loans were influenced by the net purchases of loans from other institutions, which amounted to 71.8% of the claims on loans at the end of December 2007 and to 68.6% of the claims on loans at the end of December 2008.
Corporations Specializing in Lending, Claims on Loans (chart)
In the maturity structure of claims on loans, those with maturity of over five years prevailed. They amounted to BGN 1.706 billion at the end of December 2008. Their annual growth rate was 46.6% (BGN 542.5 million) compared to the end of December 2007 and their growth for the last quarter of 2008 was 0.5% (BGN 8 million). Their relative share in the total amount of claims on loans rose from 57.2% at the end of December 2007 to 60.6% at the end of December 2008.
* For the purpose of reducing the reporting burden the Bulgarian National Bank collects data from 18 companies, which own 97% of the total assets of all companies. The rest 46 companies report data once at the end of the reporting period. Statistics of corporations specializing in lending do not include leasing companies, which are reporting agents of other statistics.
** GDP for 2008 is BGN 66.096 billion (preliminary estimate by NSI).
Corporations Specializing in Lending
Maturity Structure of Claims on Loans
December 2007, December 2008 (charts)
Claims on loans by sector. Claims on loans of the Households and NPISHs sector were BGN 2.396 billion at the end of December 2008, 47% (BGN 766 million) up compared to December 2007. Compared to September 2008 their amount increased by 4.1% (BGN 94.6 million).Their relative share in the total amount of claims on loans of the resident sector changed from 80.2% at the end of December 2007 to 85.2% at the end of December 2008. Claims on loans of the Nonfinancial corporations sector were BGN 404 million at the end of December 2008. They increased by 2.6% (BGN 10.2 million) compared to December 2007 and by 6% (BGN 22.7 million) compared to September 2008. The share of these loans in the total amount of claims of residents dropped from 19.4% to 14.4%.
Corporations Specializing in Lending
Claims on Loans of Residents by Sector
December 2007, December 2008 (charts)
In the structure of claims on loans of the Households and NPISHs sector, consumer loans prevailed. They came to BGN 1.276 billion at the end of December 2008.Their amount rose by 53.6% (BGN 445.3 million) compared to the end of December 2007 and by 4.9% (BGN 59.2 million) for the fourth quarter of 2008. Their relative share in the total amount of claims on loans of the Households and NPISHs sector increased from 51.0% at the end of December 2007 to 53.3% at the end of December 2008. The amount of loans for house purchase was BGN 998.3 million at the end of December 2008 and it was by BGN 302.3 million (43.4%) higher than in December 2007. Compared to September 2008 it increased by BGN 16.6 million (1.7%). The relative share of these loans in the total amount of claims on loans of the Households and NPISHs sector decreased from 42.7% at the end of December 2007 to 41.7% at the end of December 2008. The total amount of other loans was BGN 121.9 million and it increased by BGN 18.4 million (17.7%) compared to December 2007. It rose by BGN 18.9 million (18.3%) for the last quarter of 2008.
Corporations Specializing in Lending
Claims on Loans of the Households and NPISHs sector by Purpose
December 2007, December 2008 (charts)
Sources of financing. At the end of December 2008 liabilities of corporations, specializing in lending was BGN 3.009 billion. They increased by BGN 733.6 million (32.2%) compared to the end of December 2007, when their amount was BGN 2.275 billion. Compared to September 2008 they increased by BGN 90 million (3.1%). In the structure of liabilities, received loans prevailed. They came to BGN 2.372 billion at the end of December 2008. The amount of these loans rose by BGN 621.7 million (35.5%) compared to December 2007 and by BGN 58.4 million (2.5%) compared to September 2008. The relative share of loans increased from 76.9% at the end of December 2007 to 78.8% at the end of December 2008. In the structure of received loans, those from non-residents dominated. They came to BGN 2.135 billion at the end of December 2008. Their amount at the end of December 2008 was by BGN 545.5 million (34.3%) higher than in December 2007 and by BGN 31.2 million (1.5%) higher compared to September 2008. The relative share of loans from non-residents in the total amount of received loans decreased to 90% at the end of December 2008 compared to 90.8% at the end of December 2007. The amount of debt securities issued by corporations specializing in lending was BGN 233 million at the end of December 2008, down by 9.9% compared to December 2007, while it increased by 3.2% (BGN 7.2 million) compared to September 2008.
Appendix: tables Claims on loans and assets and liabilities of corporations specializing in lending.
Claims on Loans of Corporations Specializing in Lending (table)
assets and liabilities of financial corporations specializing in lending (table)
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