Banks in Bulgaria lower combined 11-mo net profit

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The combined net profit of the banks operating in Bulgaria decreased to 866.1 million levs ($544.5 million/442.8 million euro) in the first eleven months of 2020 from 1.53 billion levs in the same period of 2019, the country’s central bank said.

The banking sector’s net operating revenue remained unchanged at 3.79 billion levs in the January-November period of the year, the Bulgarian National Bank (BNB) said in a monthly report on the performance of the country’s banks, published last week.

Gross interest income of banks in Bulgaria edged down to 2.74 billion levs in the review period of 2020 from 2.76 billion levs in the first eleven months of 2019.

Gross fee and commission income declined to 1.12 billion levs in the period under review from 1.20 billion levs the year before.

The banks’ total assets increased to 120.6 billion levs at the end of November, up from 112.5 billion levs a year earlier.

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