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Bulgaria - "The Banking Sector in Central Europe - Performance Overview"

The analysis of the banking sector in Bulgaria


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  • Recent years have confirmed the stress caused when assets go sour, which have clearly undercut profitability. Over last four years, net profits declined at a CAGR of 25%.
  • Asset quality deteriorated massively from 2009 to 2011, with the ratio of overdue loans over 90 days increasing to 19.7% from the 11.5% recorded just two years earlier.
  • Weak productivity is highlighted by metrics such as assets or net revenues per employee, which respectively stand at EUR 1.1M and EUR 59.0K; this is to some extent offset by clearly lower per capita personnel costs, which average EUR 11.0K.

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