At the end of 2018 the bank’s assets reached the sum of 1 430 057 thousand leva. BACB’s credit portfolio maintains its steady growth tendency, driven by diversified crediting of SME clients and individuals. An accomplished increase by 18 % for a one year period substantially surpasses the average growth of the banking market in the country, which is estimated to be 7, 55 % for the same period. Despite the low interest rates and the continuing trend of lowering them on credits, BACB records a significant rise in its revenue during the year 2018. This is due to the bank’s expanding credit portfolio.

Net interest earnings grew by 23% compared to 2017 and reached the amount of 35 374 thousand leva. This growth can be contributed to a decrease in the price of financing, despite the bank’s deposit base growth.

Attracted investments were 16% higher in both sectors: corporate deposits and deposits of citizens and households, reporting much better results than those by the banking systems – at a 6.81% yearly rate. The increasing number of customers and their transactions has led to increased net earnings from charges and commissions by 19 %.

BACB’s net profit is 12.638 million after taxation, which makes up about a 60 % increase compared to the year 2017. Thanks to its competitive advantages in generating income and operation efficiency, the bank keeps under control operation costs, regardless of the steady increase in clients and handling of their transactions. The positive outlook is retained in BACB’s equity positions. With an increase by 4 % versus 2017 (12% if profits from unaudited reports are included).

This is a serious 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, for Investors section. 

 BACB Financial Indicators

BGN '000	Q4'18	Q4'17	delta %
Interest income	43 089	38 940	11%
Ineterest expence	-7 715	-10 093	-24%
Net interest income	35 374	28 847	23%
Net fees income	6 905	5 782	19%
Net profit	12 638	7 884	60%
Loans (net)	907 145	766 119	18%
Deposits	1 181 582	999 465	18%
Total attracted funds	1 227 590	1 056 907	16%
Total assets	1 430 057	1 240 276	15%
CET1*	171 091	163 969	4%
CET1** pro forma unaudited results from 2018	183 729	163 969	12%