16.05.2022 Tsanko Arabadzhiev: We have a BGN 20 million profit in the first quarter

“The situation at the BDB has normalized completely, we are actively working to fulfill the goals of the bank and the results from the first quarter show that. We have an excellent financial result, but our ambitions are even higher and we are working to achieve them.” This was said by the Executive Director and member of the Governing Board of BDB, Tsanko Arabadzhiev, for the Business.BG program on the Bulgarian National Television.

He explained that the BDB has a BGN 20 million profit in the first quarter, compared to a loss of BGN 5 million in the same period of 2021. In the first three months of the year, the bank has granted 81 new loans and lease deals to small and medium enterprises. Another 145 loans are currently awaiting approval.

“We have improvements in almost all important aspects. We are managing to retain our interest income, to optimize the price of the resource, and also operating expenses and personnel expenses,” Tsanko Arabadzhiev also said.

According to him, in order to reach the goal of 50 loans per month, they had to rework the entire structure of the bank, including changes to the internal organization.

“From 2017 until the summer of 2021, the bank has provided loans to 64 clients. Just in the first quarter of this year, we managed to reach 57 clients, and at the end of April we even surpassed the results from the previous four years,” said the Executive Director of the Bulgarian Development Bank.

Currently there is increased interest by micro-, small, and medium businesses. It is growing with the active creation and offering of new credit products that take into consideration the needs of the businesses.

“The bank is in good and safe hands. We are close to the businesses, for the first time we have such a strong and direct connection and this is yielding results,” emphasized Tsanko Arabadzhiev.