According to information of the Bulgarian National Bank (BNB), the revenues of the Bulgarian banks from commission fees and charges for 2016 amount to BGN 1.06 B, as against BGN 1.02 B in 2015.
Bulgaria's banking sector has reported a record-high profit for 2016 in the amount of BGN 1.262 B – an increase by 40.5% (BGN 264 M) year-on-year.
In 2016, the banks earned over BGN 3 B from loan interests, a small decrease from a year ago when the revenues from loan interests were BGN 3.4 B.
At the same time, the banks paid to deposit holders only BGN 439 M in interests, as against BGN 866 M in 2015.
The banks' record high profit for 2016 also owes itself to the shrinking share of bad credits on the Bulgarian loan market.
Last but not least, the banking sector has seriously cut down its administrative costs, as many banks have downsized their branch networks across the country.
As a result, they spent only BGN 832 M in 2016 on administration, as against BGN 1.112 B a year earlier.