The growth of BACB credit portfolio resulted in 10 % increase of interest revenue. Net interest earnings grew by 23% compared to the third quarter of 2017. Bank’s cost of financing construe to fall –25% less than a year earlier despite the deposit base growth. 

The number of customers and of their transactions grew thus leading to increased net earnings from charges and commissions with 23 %.

BACB credit portfolio expanded by 16% vs last year, the main driver being the diversified crediting of SME clients and individuals. In terms of this parameter, the bank substantially surpassed the average growth of the banking market in the country, reported to be 6,18 % for the same period. Likewise, attracted investments were  16% higher in both segments: corporate deposits and deposits denizens and households, reporting much better results than those of the banking system of 9,12%.

BACB net profit is66% higher compared to the same quarter of 2017. Control of operation costs along with maximizing of the effect of bank’s competitive advantages and its business model, resulted in improved efficiency. 

BACB is well-provided with capital, which increased by yet another 5% in one-year time, a prerequisite of sustainable growth and credit portfolio expansion, whilst maintaining the levels of its indicators of stability and sustainability and generating value for shareholders.   

Full financial statements of BACB for the third quarter as well as the management report are available on our corporate site www.bacb.bg , For Investors section. 

BACB Financial Indicators

BGN '000	Q3'18	Q3'17	delta %
Interest income	31 719	28 820	10%
Ineterest expenses	-5 762	-7 702	-25%
Net interest income	25 957	21 118	23%
Net fees income	4 886	3 962	23%
Net profit	9 947	6 002	66%
Loans (net)	866 843	746 769	16%
Deposits	1 125 508	972 305	16%
Total attracted funds	1 157 497	1 026 740	13%
Total assets	1 344 073	1 204 384	12%
CET1*	169 487	162 180	5%

Sofia, 02 November2018.