Bulgarian-American Credit Bank

BACB's customer loans rose 9.81% to BGN 801 mil in 2017

By Helgi Analytics - September 3, 2018

Bulgarian-American Credit Bank's customer loans reached BGN 801 mil in 2017, up 9.81% compared to the previous year. Bulgarian ...

BACB's customer deposits rose 17.8% to BGN 1,060 mil in 2017

By Helgi Analytics - September 3, 2018

Bulgarian-American Credit Bank's customer deposits reached BGN 1,060 mil in 2017, up 17.8% compared to the previous year. Bulga...

BACB's net profit rose 30.7% to BGN 7.87 mil in 2017

By Helgi Analytics - September 3, 2018

Bulgarian-American Credit Bank made a net profit of BGN 7.87 mil under revenues of BGN 33.1 mil in 2017, up 30.7% and -6.02% respecti...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 18.7 26.7 29.0
Fee Income (As % Of Revenues) % 19.5 14.9 17.5
Other Income BGN mil 1.48 3.26 -1.63
Total Revenues BGN mil 25.1 35.2 33.1
Operating Profit BGN mil 3.38 14.1 12.0
Provisions BGN mil 3.23 8.18 4.95
Net Profit BGN mil 0.627 6.02 7.87
Balance Sheet 2015 2016 2017
Customer Loans BGN mil 638 729 801
Debt Securities BGN mil 70.6 92.7 75.4
Total Assets BGN mil 1,014 1,071 1,240
Shareholders' Equity BGN mil 159 167 176
Interbank Borrowing BGN mil 0 0 0
Customer Deposits BGN mil 849 900 1,060
Issued Debt Securities BGN mil 0 0 0
Ratios 2015 2016 2017
ROE % 0.399 3.70 4.59
ROA % 0.069 0.577 0.681
Costs (As % Of Assets) % 2.37 2.02 1.83
Costs (As % Of Income) % 86.5 59.9 63.8
Net Interest Margin % 2.05 2.56 2.51
Loans (As % Of Deposits) % 75.2 81.0 75.5
Growth Rates 2015 2016 2017
Total Revenue Growth % 60.4 40.5 -6.02
Operating Cost Growth % 9.74 -2.77 0.232
Operating Profit Growth % -182 318 -15.3
Net Profit Growth % -107 860 30.7
Customer Loan Growth % 16.5 14.2 9.81
Total Asset Growth % 24.4 5.61 15.8
Customer Deposit Growth % 29.7 5.95 17.8
Shareholders' Equity Growth % 2.04 4.95 5.81

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Net Interest Income BGN mil         17.2 2.25 6.17 12.3 18.7    
Total Revenues BGN mil         22.8 7.74 9.01 15.6 25.1    
Operating Profit BGN mil         8.71 -9.19 -9.17 -4.14 3.38    
Net Profit BGN mil         -34.2 -18.7 -16.0 -8.94 0.627    
balance sheet                      
Customer Loans BGN mil         599 602 509 548 638    
Debt Securities BGN mil         7.61 42.7 44.2 29.5 70.6    
Total Assets BGN mil         749 828 778 815 1,014    
Shareholders' Equity BGN mil         201 178 166 156 159    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         546 647 608 655 849    
Issued Debt Securities BGN mil         0 0 0 0 0    
ratios                      
ROE %         -17.4 -9.87 -9.30 -5.56 0.399    
ROA %         -4.60 -2.37 -1.99 -1.12 0.069    
Costs (As % Of Assets) %         1.89 2.15 2.26 2.48 2.37    
Costs (As % Of Income) %         61.8 219 202 127 86.5    
Net Interest Margin %         2.31 0.285 0.768 1.54 2.05    
Interest Income (As % Of Revenues) %         75.3 29.1 68.5 78.6 74.6    
Fee Income (As % Of Revenues) %         2.51 15.8 24.2 20.9 19.5    
Equity (As % Of Assets) %         26.8 21.5 21.3 19.1 15.7    
Loans (As % Of Deposits) %         110 93.1 83.7 83.7 75.2    
Loans (As % Assets) %         80.0 72.7 65.4 67.2 62.9    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Interest Income BGN mil         47.6 35.1 33.8 32.8 37.1    
Interest Cost BGN mil         30.5 32.9 27.6 20.5 18.4    
Net Interest Income BGN mil         17.2 2.25 6.17 12.3 18.7    
Net Fee Income BGN mil         0.571 1.22 2.18 3.27 4.88    
Other Income BGN mil         5.07 4.27 0.663 0.070 1.48    
Total Revenues BGN mil         22.8 7.74 9.01 15.6 25.1    
Depreciation BGN mil         1.14 1.60 2.09 2.36 2.43    
Operating Cost BGN mil         14.1 16.9 18.2 19.8 21.7    
Operating Profit BGN mil         8.71 -9.19 -9.17 -4.14 3.38    
Provisions BGN mil         43.1 12.2 6.63 4.79 3.23    
Extra and Other Cost BGN mil         -0.224 -2.48 0.220 -0.004 -0.393    
Pre-Tax Profit BGN mil         -34.2 -18.9 -16.0 -8.93 0.542    
Tax BGN mil         0.023 -0.219 -0.020 0.006 -0.085    
Minorities BGN mil         0 0 0 0 0    
Net Profit BGN mil         -34.2 -18.7 -16.0 -8.94 0.627    
growth rates                      
Net Interest Income Growth % ...       -65.4 -86.9 174 99.3 52.3    
Net Fee Income Growth % ...       -25.5 114 78.3 50.1 49.2    
Total Revenue Growth % ...       -55.5 -66.0 16.3 73.5 60.4    
Operating Cost Growth % ...       -11.6 20.2 7.37 8.77 9.74    
Operating Profit Growth % ...       -75.3 -205 -0.174 -54.8 -182    
Pre-Tax Profit Growth % ...       136 -44.7 -15.3 -44.2 -106    
Net Profit Growth % ...       138 -45.4 -14.4 -44.1 -107    
market share                      
Market Share in Revenues %         0.580 0.203 0.243 0.401 0.608    
Market Share in Net Profit %       ... ... ... ... ... 0.070    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                      
Cash BGN mil         72.4 93.6 86.0 108 157    
Customer Loans BGN mil         599 602 509 548 638    
Debt Securities BGN mil         7.61 42.7 44.2 29.5 70.6    
Fixed Assets BGN mil         41.0 66.3 71.7 79.0 99.0    
Total Assets BGN mil         749 828 778 815 1,014    
Shareholders' Equity BGN mil         201 178 166 156 159    
Of Which Minority Interest BGN mil         0 0 0 0 0    
Liabilities BGN mil         549 650 612 660 856    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         546 647 608 655 849    
Issued Debt Securities BGN mil         0 0 0 0 0    
Other Liabilities BGN mil         0 0 0 0 0    
growth rates                      
Customer Loan Growth % ...       -2.03 0.451 -15.5 7.74 16.5    
Total Asset Growth % ...       1.60 10.5 -6.11 4.83 24.4    
Shareholders' Equity Growth % ...       4.66 -11.2 -7.02 -6.07 2.04    
Customer Deposit Growth % ...       0.466 18.5 -6.03 7.77 29.7    
market share                      
Market Share in Customer Loans %         1.11 1.08 0.911 1.06 1.26    
Market Share in Total Assets %         1.25 1.28 1.12 1.16 1.33    
Market Share in Customer Deposits %         1.02 1.12 0.967 1.02 1.27    
ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                      
ROE %         -17.4 -9.87 -9.30 -5.56 0.399    
ROA %         -4.60 -2.37 -1.99 -1.12 0.069    
Costs (As % Of Assets) %         1.89 2.15 2.26 2.48 2.37    
Costs (As % Of Income) %         61.8 219 202 127 86.5    
Net Interest Margin %         2.31 0.285 0.768 1.54 2.05    
Interest Spread % ...       0.840 -1.03 -0.169 0.893 1.63    
Asset Yield %         6.40 4.45 4.21 4.12 4.06    
Cost Of Liabilities % ...       5.56 5.48 4.38 3.22 2.43    
Interest Income (As % Of Revenues) %         75.3 29.1 68.5 78.6 74.6    
Fee Income (As % Of Revenues) %         2.51 15.8 24.2 20.9 19.5    
Other Income (As % Of Revenues) %         22.2 55.2 7.36 0.448 5.92    
Equity (As % Of Assets) %         26.8 21.5 21.3 19.1 15.7    
Loans (As % Of Deposits) %         110 93.1 83.7 83.7 75.2    
Loans (As % Assets) %         80.0 72.7 65.4 67.2 62.9    
Cost of Provisions (As % Of Loans) %         7.12 2.03 1.19 0.907 0.544    

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BACB's total revenues fell 6.02% to BGN 33.1 mil in 2017

By Helgi Analytics - September 20, 2018

Bulgarian-American Credit Bank generated total banking revenues of BGN 33.1 mil in 2017, down 6.02% compared to the previous year. Bulgarian banking sector banking sector generated total revenues of BGN 3,870 mil in 2017, down 4.62% when compared to t...

BACB's net interest margin fell 2.17% to 2.51% in 2017

By Helgi Analytics - September 3, 2018

Bulgarian-American Credit Bank's net interest margin amounted to 2.51% in 2017, down from 2.56% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 10.4% in 2008 and an all time low of 0.285% in 2012. ...

BACB's net interest income rose 8.42% to BGN 29.0 mil in 2017

By Helgi Analytics - September 3, 2018

Bulgarian-American Credit Bank generated total banking revenues of BGN 33.1 mil in 2017, down 6.02% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of BGN 83.1 m...

BACB's customer loan growth fell 30.9% to 9.81% in 2017

By Helgi Analytics - September 3, 2018

Bulgarian-American Credit Bank's customer loan growth reached 9.81% in 2017, down from 14.2% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 19.2% in 2008 and an all time low of -19.7% in 2010. In the last ...

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Finance

Bulgarian-American Credit Bank has been growing its revenues and asset by 28.4% and 15.0% a year on average in the last 3 years. Its loans and deposits have grown by 13.5% and 17.4% a year during that time and loans to deposits ratio reached 75.5% at the end of 2017. The company achieved an average return on equity of 2.90% in the last three years with net profit growing nan% a year on average. In terms of operating efficiency, its cost to income ratio reached 63.8% in 2017, compared to 70.1% average in the last three years.

Equity represented 14.2% of total assets or 22.0% of loans at the end of 2017. Bulgarian-American Credit Bank's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2017.