Non-bank credits in Bulgaria rise 9.9% y/y as of end-September 2011.

By bne IntelliNews November 17, 2011
The loans disbursed by non-bank credit institutions increased by 9.9% y/y to BGN 1.92bn (EUR 979.9mn) at the end of September, according to latest data of the central bank. The annual expansion narrowed from 10.5% y/y as of end-June, however still higher than 9.4% y/y at the end of March and 9.3% y/y at the end of December. We remind that the decline reached 20.8% y/y at end-September 2010 and 37.5% y/y at end-2009. In quarterly terms, non-bank credits fell by 1.1% as of the end of September after rising by 2.4% q/q at the end of June. The share of non-performing loans rose further to 18.6% at end-September from 18.1% at the end of June, 15.7% at end-2010 and 12.6% at end-2009. The assets of non-bank credit institutions rose by 2% q/q and 15.8% y/y to BGN 3bn or 3.9% of the projected full-year GDP.

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