The Governing Council of the Bulgarian National Bank (BNB) has ordered banks in the country to apply a minimum set of 6 indicators for monitoring credit standards when granting and renegotiating loans secured by residential real estate. The aim is to preserve liquidity buffers in the banking system amidst significant credit growth, particularly in mortgages, BNB said.
The annual growth rate of mortgage loans has increased from 10.1% at the end of 2020 to 19.9% at the end of 2023, reaching a total of EUR 3 billion. Banks have not loosened the regime for granting such loans and should not do so, the central bank's report said. The total amount of deposits at the end of 2023 is EUR 73.5 billion, with the deposit growth for the last four years being more than EUR 25 billion.
The financial situation in the country is critical, Finance Minister Temenuzhka Petkova says. Which means that the good news – the slowing inflation rate (on an annual basis) and Bulgaria’s full accession to the Schengen area at the beginning of the..
Moody's Ratings has affirmed Bulgaria's long-term and short-term rating at Baa1 with a stable outlook. The affirmation of Bulgaria's Baa1 rating reflects the rating agency's expectations that Bulgaria's debt and creditworthiness indicators will remain..
On January 27th, government securities for 150 million euros (300 million leva) will be offered on the domestic market , the Bulgarian National Bank (BNB) announced. The bonds will have a maturity of 7 years and an annual interest rate of 3.25%. On..
The financial situation in the country is critical, Finance Minister Temenuzhka Petkova says. Which means that the good news – the slowing inflation..
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