Suzanne
14-02-06, 11:59 AM
The Bulgarian Central Co-operative Bank (CCB) reported a net profit of 6.9 mln levs for 2005, up 13% from 6.1 mln levs for the previous year.
This growth rate is 300% slower than the banking sector average of 35%, shows central bank data.
In terms of assets, deposit and credit growth, though, CCB outperformed its domestic peers.
By end-2005, CCB ranked second in the medium-sized banks group in terms of assets. Its balance sheet figure was 809 mln levs, up 43% year-on-year. This compares to an average growth rate of 31.8% for the sector.
Within the past year, the bank's assets increased by 244 mln levs, thanks to a surge in deposits which reached 665 mln levs. The 45% deposit growth compares favourably to the average growth rate of 30% for the sector.
CCB's credit portfolio stands at 353.5 mln levs and accounted for 44% of assets, which compares to an average of 54% for the sector.
Within a year, the volume of loans disbursed by the bank increased 46%, while for the sector this figure was 33%.
The portion of household credits in the bank's credit portfolio expanded as the share of other commercial credits shrank from 66% to 53% of the credit portfolio within a year. Consumer credit grew to 20% from 13%.
Home purchase credits accounted for 11% of its portfolio versus a mere 1.7% at end-2004.
CCB's majority shareholder is CCB Group Asset Management which controls a 67% stake. The bank is part of the financial group by the same name which comprises insurer Armeec and pension companies CCB Sila and Saglasie, controlled by Varna-based economic group TIM.
http://news.dnevnik.bg/
This growth rate is 300% slower than the banking sector average of 35%, shows central bank data.
In terms of assets, deposit and credit growth, though, CCB outperformed its domestic peers.
By end-2005, CCB ranked second in the medium-sized banks group in terms of assets. Its balance sheet figure was 809 mln levs, up 43% year-on-year. This compares to an average growth rate of 31.8% for the sector.
Within the past year, the bank's assets increased by 244 mln levs, thanks to a surge in deposits which reached 665 mln levs. The 45% deposit growth compares favourably to the average growth rate of 30% for the sector.
CCB's credit portfolio stands at 353.5 mln levs and accounted for 44% of assets, which compares to an average of 54% for the sector.
Within a year, the volume of loans disbursed by the bank increased 46%, while for the sector this figure was 33%.
The portion of household credits in the bank's credit portfolio expanded as the share of other commercial credits shrank from 66% to 53% of the credit portfolio within a year. Consumer credit grew to 20% from 13%.
Home purchase credits accounted for 11% of its portfolio versus a mere 1.7% at end-2004.
CCB's majority shareholder is CCB Group Asset Management which controls a 67% stake. The bank is part of the financial group by the same name which comprises insurer Armeec and pension companies CCB Sila and Saglasie, controlled by Varna-based economic group TIM.
http://news.dnevnik.bg/