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Bulgarian banks register a 1 billion profit

Submitted on Sunday, 5 October 2008No Comment

1 billion leva profit have registered the Bulgarian banks for the first 8 months of the year, announced the manager of Bulgarian National Bank (BNB) Ivan Iskrov. He supposed that by the end of the year the sum would reach 1.5 billion leva.

‘The behaviour of our banks shows that it would rather not be shared out as dividends’, added he. According to him Bulgarian banks usually capitalise their profit which allows them to grow and develop calmly.

‘Their liquidity is quite large. The markets in the area are functioning as normal. The banks are working calmly’, assured Iskrov on occasion of the financial crisis in the US and Europe.

‘Non-served credits still remain at a very low level – about 2%. After the bank crisis in 1997 BNB has executed some extremely serious supervision requirements.’

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