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Coronavirus crisis affects revenues in banking sector

Photo: capital.bg

In April, the profit of banks in Bulgaria shrank by nearly 60%, data from the Bulgarian National Bank indicates. For the month falling within the state of emergency introduced in mid-March, the profit reported by banks amounted to 30 m euros, up more than 42 m euros from a year earlier. One of the reasons for the sharp decline is the suppressed credit activity of banking clients. 

At the same time, in April banks reported much lower revenues from fees and commissions. This is also due to the stagnation caused by the anti-virus measures, which have blocked many businesses and led to fewer bank and card payments.



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