Banks in Bulgaria lower combined 8-mo net profit, operating revenue

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The combined net profit of the banks operating in Bulgaria decreased to 685.5 million levs ($412 million/350.5 million euro) in the first eight months of 2020 from 1.21 billion levs in the same period of 2019, the country’s central bank said.

The banking sector’s net operating revenue fell to 2.77 billion levs in the January-August period of the year, from 2.83 billion levs in the comparable period of 2019, the Bulgarian National Bank (BNB) said in a monthly report on the performance of the country’s banks, published on Wednesday.

Gross interest income of banks in Bulgaria edged down to 1.97 billion levs in the review period of 2020 from 2.04 billion levs in the first eight months of last year.

Gross fee and commission income declined to 799.2 million levs in the period under review from 875.4 million levs the year before.

The banks’ total assets increased to 118.8 billion levs at the end of August, up from 110.8 billion levs a year earlier.


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