Euro area banks tightened their credit standards for loans or credit lines in the third quarter of 2022, noted the latest lending survey of the European Central Bank (ECB). he survey was conducted among a total of 153 banks between 16 September and 4 October 2022. Most of the financial institutions said that they have further...

Credit growth in the Bulgarian banking sector will slow down, consumption will decline, and interest rates will rise by mid-2023. This was noted by experts from the Bulgarian national bank (BNB) in the latest “Macroeconomic Forecast”. The slow growth of lending is one of the factors that will limit private consumption, according to the Central...

The end of an era of cheap money will reveal a global debt problem, warns Reuters in an analysis, prepared by the agency columnist Hugo Dixon. The debt of governments, companies and households was 195% of global GDP in 2007, according to the International Monetary Fund. By the end of 2020 it had reached 256%....

Freelancers and self-employed are at greater risk of poverty and social exclusion, according to the European Statistical Office (Eurostat) data about 2021. Nearly a quarter of self-employed Europeans are in the risk category, with an increase of their share 1 percentage point compared to the previous year. This was the only category, classified by employment...

Banks in Bulgaria have tightened their credit conditions both to households and enterprises, while at the same time slightly loosening requirements for some of the consumer loans. These conclusions are noted in the latest issue of the periodic “Economic review”, published by the Bulgarian national bank (BNB). According to the survey, conducted by the Central...

Norway based B2Holding, owner of Debt Collection Agency, has increased its profit in the second quarter of the year. The holding company published its financial statements, which show gross collections, including joint-ventures, above the initial forecasts.  Net profit of B2Holding was EUR 17.74 million, 17% increase compared to the second quarter of 2021. Rise of...

B2Holding ASA, one of the leading debt purchasers in Europe, has signed an agreement to sell its Bulgarian subsidiary – Debt Collection Agency EAD (DCA), to a local Special Purpose Vehicle (SPV) company. The transaction is a result of a competitive auction process advised by Alantra Corporate Portfolio Advisors Limited. The closing of the transaction...

The volume of loans at risk of default increased in the first quarter, according to the periodical issue “Banks in Bulgaria”, prepared by the BNB. The growth is due to the exacerbation of risks in the economic environment, including possible indirect effects of the war in Ukraine, the publication says.  The Bulgarian banking system has...

Non-performing loans in the Bulgarian banking system decreased again, according to the latest BNB data. As of the end of June NPL are 5.24% of all credits and avances, 0.26 percent points down for only three month. Consumer and corporate credits are increasing the share of NPL, noted the detailed report. The overdue debt is...