Association of Banks in Bulgaria

Amidst discussions about Bulgaria's journey towards joining the Eurozone, Deputy Governor of the Bulgarian National Bank (BNB), Petar Chobanov, highlighted the robustness of Bulgaria's banking system, stating it aligns closely with Eurozone standards.

Bank charges in Bulgaria have increased significantly in the past 12 months. Using money in cash in a bank branch, or drawing cash from ATMs is most expensive, warned business consultant Stefan Hristov. If people want to save costs, they should switch over to cashless payments, said Stefan Hristov in an interview for the Bulgarian National Radio. 

Putting off loan obligations will be made through an agreement with the banks for a new repayment plan. Temporarily the principal amount or the principal and the interest may not be paid, Petar Andronov, head of the Association of Banks in Bulgaria, told BNR.

This may prove to be dangerous for the economy in the future, warns the chairman of the Association of Banks in Bulgaria, Peter Andronov, who was a guest at BNT's morning bloc.

Mortgage loans have grown by 20% in just one year, and the increase in consumer loans is 14%. This is ahead of healthy growth rates, the chairman of the Banking Association of Bulgaria told the Bloc on Monday.

The assets of banks in Bulgaria are getting closer to the size of gross domestic product, and by the end of last year they are now equivalent to 97.8% of the country's economy.

The election of a new Governor of the Bulgarian National Bank (BNB) should be completed as fast as possible, according to Petar Andronov, Chair of the Association of Banks in Bulgaria.

The term in office of the current BNB Governor, Ivan Iskrov, expires in October.