28.10.2022 Bulgarian Development Bank increases its lending activities and registers an operating profit of BGN 31.9 million

New loans totaling BGN 94 million and profit before tax in the amount of BGN 31.9 million are the financial result of the Bulgarian Development Bank for the nine months of 2022. BDB continues the reorientation of its business model by accelerating its new lending activities entirely aimed at small and medium-sized enterprises.

For the nine months of 2022, the BDB Group has granted 286 new loans with an average exposure value of BGN 280,000 (for the bank alone, the average value is BGN 390,000). Following a sustained trend (in all three quarters) of increased lending, the BDB Group has reached 209 small and medium-sized enterprises since the beginning of the year.

The operating costs of the bank’s group have decreased compared to 2021 by about 10% as a result of the consistent tracking of costs and actions to control them.

The net interest income of 44.7 million remains almost unchanged compared to the nine months of 2021 (44.9 million BGN), which is a result of repayments of overdue interest on non-serviced loan exposures and lower interest costs.

In September 2022, the bank launched its Business Booster digital platform, in which the first fully electronic loan requests were submitted. The platform aims to empower entrepreneurs by providing them with the most important knowledge, skills and resources, completely free of charge, so that they can turn their idea into a working business.