For the first three months of 2019 the bank’s assets have reached the sum of 1 438 726 thousand leva. In comparison to the same period in 2018, BACB AD’s assets increased by 13.87 %. Despite the low interest rates, BACB records a significant 16% rise in net interest incomes surpassing that of the average market in the country – 6.08 %. The bank’s credit portfolio maintains its steady growth tendency, driven by diversified crediting of SME clients and individuals. An accomplished increase for the first quarter of 2019 by 11.46 % compared to the same period in 2018 and with the average market rate being 7.41 %. Attracted investments were 14.35 % higher in both sectors: corporate deposits and deposits of citizens and households, reporting two times higher results than those by the banking systems – at a 8.08 % rate.
A 28.65% net fees income increase has also been marked. This can be contributed to the increasing number of customers and their transactions. BACB’s net profit is 3.368 million leva after taxation, which makes up about 5.88 % increase compared to the first quarter of 2018. 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.
Full financial statements of BACB for the first quarter as well as the management report are available on our corporate site, for Investors section.
BACB AD Financial Indicators
|BGN '000||Q1'19||Q1'18||delta %|
|Interest income||11 157||10 248||8.87%|
|Ineterest expence||-1 854||-2 244||-17.38%|
|Net interest income||9 303||8 004||16.23%|
|Net fees income||1 976||1 536||28.65%|
|Net profit||3 368||3 181||5.88%|
|Loans (net)||886 158||795 024||11.46%|
|Deposits||1 196 736||1 028 902||16.31%|
|Total attracted funds||1 235 090||1 080 126||14.35%|
|Total assets||1 438 726||1 263 499||13.87%|
|CET1||181 803*||170 638||6.54%|
*pro forma audited results from 2018