The Jan – April profit of the banking system in Bulgaria reached 481 mln leva (245.9 mln euros), which is 57.7% up from the respective period in 2007.

At the end of April assets totaled 61.3 billion leva (31.3 billion euros), which is 3% up compared with March and 38.2% up compared with the same period in 2006.

Loans and receivables (including financial leases) are 2.5% up y/y and cash and cash balances with central banks rose 9.2%. Securities reported in financial assets held for trading, available for sale and held to maturity decrease.

The five largest lenders in Bulgaria are sustaining their market share (56.7%).

Gross loans and advances rose 42.7% in a year reaching 50 billion leva. The monthly hike is 2.5% and is a result of the increases on all segments in the portfolio, except for receivables from credit institutions and central governments. Corporate credits are up 3.8% in the period concerned and retail credits rose by 4.5%.

The quality of the credit portfolios in the system remains satisfying.

The attracted funds in the banking system, in the form of financial liabilities at amortized value; held for trading; and designated at fair value through profit and loss amounted to 53.8 bln euros, this is a hike of 3.2% compared with March and of some 38% y/y.

In April the main source of funding for the banking business was the 10.3% hike in funds from credit institutions, mainly non-resident banks. Deposits from individuals and households rose 2.4% and remained an important resource, which accounts for 37.8% of all attracted funds as at end of April.

Deposits from residents account for 74.8% of the resources of the banking system and those from non-residents represent 25.2%.

The balance sheet aggregate total capital increased by 1.9% in the period. The y/y hike here is 45.8%.