Podcast in English
Text size
Bulgarian National Radio © 2025 All Rights Reserved

Banking system not severely affected by coronavirus crisis

Photo: BGNES

The banking system has not been directly hit by the coronavirus crisis. At the moment it is stable and there is no increase in interest rates on loans, banker Levon Hampartzoumian has told bTV.

Comparing the current financial crisis with the one that occurred ten years ago, he said that the previous one was mainly a crisis of liquidity and mistrust between banks and a lack of sufficient capital in the banks themselves.

For ten years, things have improved in such a way that the world's banking and financial systems are more resilient to shocks, even some unpredictable shocks. These days in Bulgaria and around the world banks are in much better health condition in comparison to the previous crisis, Mr. Hampartzoumian added.

He also said that banks are the safest place to keep money. According to Hampartzoumian, the proof of this was that bank savings of Bulgarians have already reached 57 billion dollars.




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Autumn weather is coming, but daytime temperatures are still high

On Thursday, the lowest temperatures will be between 8 and 13°C; in Sofia – about 8°C. During the day, there will be variable cloudiness, which will decrease to sunny weather over many regions. The wind will be moderate from the..

published on 9/17/25 7:05 PM

Parliament to vote on the fifth motion of no confidence against the Zhelyazkov cabinet on Thursday

The vote on the fifth motion of no confidence against Prime Minister Rosen Zhelyazkov's government will take place on Thursday, September 18, at 4:45 PM, said the presiding chair of the parliamentary session, Nikoleta Kuzmanova following the end of..

published on 9/17/25 5:46 PM

The military plant in Sopot: Not only the company, but also Bulgaria is being discredited

Regarding a video published on YouTube, the management of VMZ-Sopot - the largest state-owned military enterprise in Bulgaria, say that the information presented does not correspond to the truth. The enterprise strongly objects to..

published on 9/17/25 5:15 PM