Loans
Bulgaria: Problem Loans Increase in 2021
Bad and restructured loans increased by BGN 178 million, or 3.75% in January compared to the previous month, according to BNB data.
These loans are already BGN 4.94 billion and they are already 8% of all credits.
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Bulgarian National Bank Reports Boom in Bad Fast Loans
Against the backdrop of quick money ads flooding the public domain, the Bulgarian National Bank reported a boom in un-serviced fast loans.
Credit for small companies
Banks will issue loans up to 50,000 euros each to very small enterprises with an annual turnover of no more than €200,000 in the context of the new Guarantee Fund of the Hellenic Development Bank that is expected to start operating in early March.
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Up to 50 pct haircut expected on state loans issued
Last week's European Commission decision on state subsidies to pandemic-riven enterprises has triggered the Finance Ministry's planning for a haircut on the debts from the first three phases of the cheap state loans program known as the "Deposit To Be Returned." This has effectively allowed the government to turn a part of those loans into grants for companies.
Banks have frozen loans of €28.4 bln
Banks and servicers are in a race against time to reach settlement agreements over nonperforming loans and suspended loan tranches in a bid to stem the impact of the pandemic crisis, according to Finance Ministry data.
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‘Gefyra 2’ to have criteria established
The criteria for the state subsidy program for business loans taken out by companies battered by the pandemic will be discussed in conference calls the Finance Ministry will have with European Union officials next week.
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BoG warns of bad-loan danger
Out of the 21 billion euros in loans under a moratorium due to the pandemic, more than 80% had previously been performing, according to the Bank of Greece's Credit Stability Report published on Thursday.
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BoG head warns of new NPLs up to €10 bln
The burden of new nonperforming loans on Greek banks after the pandemic crisis is expected to come to 8-10 billion euros, relatively greater compared to that faced by other European credit institutions, Bank of Greece Governor Yannis Stournaras said on Friday.
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Staikouras confirms plan for businesses
Finance Minister Christos Staikouras confirmed on Saturday that the government intends to expand the loan repayment tranche subsidy program for mortgage holders, known as "Gefyra" (Bridge), to businesses.
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Gov’t seeking to stem a tide of closures
Faced with the prospect of thousands of small and medium-sized enterprises sinking under the weight of liabilities as a result of the pandemic's adverse financial impact, the government is seeking ways to stem the tide which is threatening to become its worst nightmare.
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