PM Stanishev: Deposits in Banks Up 32% in a Year

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PM Stanishev: Deposits in Banks Up 32% in a Year

As at March 2008 the amount of deposits in Bulgarian banks is up 32% compared with March 2007, PM Stanishev said in Parliament today.

The quality of the banks' credit portfolios continues to be satisfying. The share of serviced credits has increased, he added. He also pointed out that the banking system in the country is stable and highly liquid, in spite of the fluctuations on the international markets of the past several months.

Stanishev pointed out that Bulgarian banks are controlled by large financial institutions, which have not reported losses in recent periods. This greatly reduces risks connected to the revenues of the banking system. The nation's currency reserves are able to cover export in the next 6 months.

0.7% of all bank deposits are non-guaranteed. This percentage for household deposits is 0.5%. The prime minister also noted that import is growing faster than export.

BGNES, Photo: BGNES

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