Corpbank crisis will spur bad business loans in Bulgaria – report

Written by on October 3, 2014 in Business - Comments Off on Corpbank crisis will spur bad business loans in Bulgaria – report

The proportion of non-performing business loans in Bulgaria, which in 2013 added up to 19 per cent, could rise above 21 per cent because of the problems around Corporate Commercial Bank and its subsidiary Victoria, daily Sega quoted a report by Deloitte as saying.

The report noted that in 2013, bad business loans rose from 18.9 to 19 per cent.

However, in general banks in Bulgaria will see an increase in demand for loans as well as more deposits.

This will arise from the economic recovery, which will mean an improved financial condition of companies, and because of decreasing unemployment which will support household income.

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