Bulgaria’s banking sector is bracing for an increase in non-performing loans (NPLs), as the cost of covering potential bad debts has nearly doubled in 2024. According to the Bulgarian National Bank (BNB), the provisions for impairment of financial assets reached 578 million leva as of the end of November 2024, a significant rise compared to…
Bulgaria’s banking system is on track to surpass three billion leva in profits again this year, following the record-breaking 3.4-billion leva reported in 2023. According to the Bulgarian National Bank (BNB), commercial banks in the country had already posted a total profit of 3 billion leva as of the end of October. However, the growth…
Banks in Bulgaria have reported a tightening of credit conditions for both businesses and households, primarily driven by increased interest rates. This tightening has been particularly evident in consumer loans, according to the Bulgarian National Bank’s (BNB) Economic Review for the third quarter of 2024. Despite the stricter conditions, banks have slightly relaxed the maximum…
The war remains the key risk for the banking system, but the lack of qualified personnel has become another additional risk. First Deputy Governor of the National Bank of Ukraine (NBU) Kateryna Rozhkova said this during the presentation of the Financial Stability Report. “The war remains the key risk for banks. Another additional risk that…
Following the results of the competition, the supervisory board of First Investment Bank JSC, which was nationalized and transferred to the management of the State Property Fund, was elected. This was announced on Telegram by the head of the State Property Fund Vitalii Koval. “The nationalized (sanctioned) PIN bank received independent members of the supervisory…
Szymon Holownia, the speaker of parliament, claims that he will ignore an order by the Constitutional Tribunal (TK) to halt proceedings to put central bank governor Adam Glapinski on trial. Holownia, who is a leading figure in the current ruling coalition, says that the TK, which is widely seen as being under the influence of…
The banking system of Ukraine showed its preparedness, as it endured Russian missile attacks on energy infrastructure in the first two spring months. However, some difficulties were observed in the operation of bank offices in the most affected settlements. The relevant statement was made by Globus Bank Board Chairman Serhii Mamedov. “Of course, it is…