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Oresharski: The Bulgarian bank system is stabe

Submitted on Friday, 17 October 2008No Comment

‘The Bulgarian bank system remains stable, well capitalized and liquid, independently from the variations in the international financial markets’, said the Financial Minister Plamen Oresharski. He pointed out that the capital adequacy of the bank system is 14.6 %, the liquidity is high and is supported by the fixed income of finances and guarantees enough coverage of the attracted investments.

According to him, the quality of credit wallets in Bulgaria remains while the percentage of the regular credits remains the same as in 2007 – 95.5%.

‘The share of residential credits in the common credit wallet of the bank system is little under 15% and is equally divided between the banks’, added Oresharski. He also said there was no bank with advantage residential credits in their wallet.

The Financial Minister also emphasized that the character of the residential credits in Bulgaria is far different than the American which is at the bottom of the bankruptcies in the USA and bank difficulties in Europe and the Near East. He assured that the Bulgarian bank system will continue to be directly unaffected by the American mortgage credits.

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