The Bulgarian National Banks (BNB) net profit in 2007 surged 2.5-fold on the year to 693.88 million leva, the annual report of the central bank available at www.bnb.bg reads. In 2006, its net earnings came in at 264.31 million leva.
Under the BNB Act, 250.63 million leva went to the national budget, 239 million leva to the special reserves and the remaining 204.23 million leva to reserves and minority shares.
BNB operational revenues rose 129 per cent year-on-year to 775.45 million leva, 447.79 million leva of which were net interest proceeds, 257.41 million leva net earnings from financial assets and liabilities, 3.8 million leva from net fees and the remainder from other activities.
Administrative expenses also rose by a tenth to 81.57 million leva.
BNB assets rose by 27.2 per cent on the year to 24.9 billion leva whereas money in circulation totalled 8.41 billion leva, up 22 per cent from 2007.
Deposits of households and non-financial enterprises rose by eight billion leva, whereas net foreign banking assets were down 5.9 billion leva as a result of the substantial increase of foreign liabilities (5.5 billion leva).
The market value of gross foreign currency reserves totalled 11.94 billion euro, up 33.72 per cent as at end-2006. The increase was mainly ascribed to the 2.55 billion euro in cash inflows, 368.62 million euro in revenues from investments with foreign currency reserves and proceeds from assets re-valuation worth 100.96 million euro.
