Bank earnings have increased for the sixth consecutive month of December 2013 onwards, after five consecutive years of declines. The growth rates of financial results continued to be double digits, according to the Bulgarian National Bank (BNB) to the banking system at the end of May. For the improving results contribute not only the increase of the net interest income of banks but also the declining costs of the sector for allowances of bad credits.
In May, the banks on the Bulgarian market have made a profit of 57.6 million lev, which is 5.51% more than the results reported in May last year. The accumulated YTD profit also increased and by the end of May reached 363.9 million lev, increasing by 37.1% annualy. The rate of growth remains double-digit, but decreases compared to the reported growth in April of 45.3%.
Source : capital