Banks – Annual Results
The Bulgarian banks – First Investment Bank, Central Cooperative Bank, Corporative Trade Bank – have increased their incomes by 15%, reaching 338.7 million levs, due to increasing their interest rates. The net profit of these banks for 2008 was 166.7 million levs, an increase by 13% in comparison with 2007. The increase of taxes and fees have led to the increase of their income by 12 million levs. However, their expenses have also increased to 2890 million levs from 236 million levs in the previous year.
According to analysts there are no indication for crisis in the banking sectior. The growth of the Bulgarian banks come to prove that they have not been affected dramatically by the recession.
Most of the analysts think that there will be no economic catastrophy and the private business will be able to repay bank loans.
Related posts:
Category: Bulgaria, Economy | Tags: annual results, banking tendencies, Bulgarian banks, expense, finance, profit, recession Comment »