Central Cooperative Bank

CCB's net profit rose 44.3% to BGN 37.3 mil in 2017

By Helgi Analytics - September 2, 2018

Central Cooperative Bank made a net profit of BGN 37.3 mil under revenues of BGN 207 mil in 2017, up 44.3% and 3.35% respectively com...

CCB's total revenues rose 3.35% to BGN 207 mil in 2017

By Helgi Analytics - September 20, 2018

Central Cooperative Bank generated total banking revenues of BGN 207 mil in 2017, up 3.35% compared to the previous year. ...

CCB's customer deposits rose 9.01% to BGN 4,859 mil in 2017

By Helgi Analytics - September 22, 2018

Central Cooperative Bank's customer deposits reached BGN 4,859 mil in 2017, up 9.01% compared to the previous year. Bulgarian b...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 78.1 120 128
Fee Income (As % Of Revenues) % 26.8 23.7 23.2
Other Income BGN mil 31.4 33.0 31.0
Total Revenues BGN mil 150 200 207
Staff Cost BGN mil 32.4 35.9 38.8
Operating Profit BGN mil 37.2 65.8 71.1
Provisions BGN mil 28.0 36.0 31.1
Net Profit BGN mil 6.70 25.8 37.3
Balance Sheet 2015 2016 2017
Interbank Loans BGN mil 204 256 292
Customer Loans BGN mil 2,087 2,160 2,215
Debt Securities BGN mil 1,026 1,010 1,004
Total Assets BGN mil 4,643 5,187 5,658
Shareholders' Equity BGN mil 380 404 448
Interbank Borrowing BGN mil 18.3 8.62 11.5
Customer Deposits BGN mil 4,167 4,458 4,859
Issued Debt Securities BGN mil 70.1 70.1 70.2
Ratios 2015 2016 2017
ROE % 1.80 6.58 8.75
ROA % 0.152 0.525 0.687
Costs (As % Of Assets) % 2.55 2.74 2.51
Costs (As % Of Income) % 75.1 67.2 65.7
Capital Adequacy Ratio % 15.2 15.6 16.8
Net Interest Margin % 1.77 2.44 2.36
Loans (As % Of Deposits) % 50.1 48.5 45.6
NPLs (As % Of Loans) % 10.3 8.16 8.16
Provisions (As % Of NPLs) % 25.6 49.5 62.1
Growth Rates 2015 2016 2017
Total Revenue Growth % 24.0 34.0 3.35
Operating Cost Growth % 6.46 19.9 1.04
Operating Profit Growth % 147 76.8 8.08
Net Profit Growth % -7.59 285 44.3
Customer Loan Growth % 15.0 3.50 2.54
Total Asset Growth % 11.1 11.7 9.08
Customer Deposit Growth % 12.1 6.98 9.01
Shareholders' Equity Growth % 4.53 6.43 10.7
Employees 2,248 2,316 2,152

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summary Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                          
Net Interest Income BGN mil             53.1 52.1 54.6 50.9 78.1    
Total Revenues BGN mil             117 123 123 121 150    
Operating Profit BGN mil             24.2 20.3 17.3 15.1 37.2    
Net Profit BGN mil             12.6 10.1 10.1 7.26 6.70    
balance sheet                          
Interbank Loans BGN mil             420 184 294 191 204    
Customer Loans BGN mil             1,423 1,590 1,772 1,814 2,087    
Debt Securities BGN mil             565 576 609 781 1,026    
Total Assets BGN mil             3,003 3,349 3,745 4,181 4,643    
Shareholders' Equity BGN mil             333 347 356 363 380    
Interbank Borrowing BGN mil             62.9 72.5 23.2 21.3 18.3    
Customer Deposits BGN mil             2,577 2,869 3,278 3,717 4,167    
Issued Debt Securities BGN mil             0.762 46.0 70.2 70.1 70.1    
ratios                          
ROE %             4.16 2.97 2.88 2.02 1.80    
ROA %             0.477 0.318 0.286 0.183 0.152    
Costs (As % Of Assets) %             3.51 3.22 2.99 2.66 2.55    
Costs (As % Of Income) %             79.3 83.4 86.0 87.5 75.1    
Capital Adequacy Ratio %           ... ... ... 15.0 16.6 15.2    
Net Interest Margin %             2.01 1.64 1.54 1.29 1.77    
Interest Income (As % Of Revenues) %             45.3 42.4 44.3 42.2 52.2    
Fee Income (As % Of Revenues) %             21.2 25.1 26.8 31.5 26.8    
Staff Cost (As % Of Total Cost) %             31.7 31.0 29.4 29.6 28.9    
Equity (As % Of Assets) %             11.1 10.4 9.51 8.69 8.18    
Loans (As % Of Deposits) %             55.2 55.4 54.1 48.8 50.1    
Loans (As % Assets) %             47.4 47.5 47.3 43.4 44.9    
NPLs (As % Of Loans) % ...           3.08 2.72 2.32 2.02 10.3    
Provisions (As % Of NPLs) % ...           57.7 61.9 66.3 87.9 25.6    
income statement Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                          
Interest Income BGN mil             156 165 156 149 154    
Interest Cost BGN mil             103 113 101 98.3 75.8    
Net Interest Income BGN mil             53.1 52.1 54.6 50.9 78.1    
Net Fee Income BGN mil             24.9 30.8 33.0 37.9 40.0    
Other Income BGN mil             39.1 39.8 35.7 31.7 31.4    
Total Revenues BGN mil             117 123 123 121 150    
Staff Cost BGN mil             29.4 31.7 31.2 31.3 32.4    
Depreciation BGN mil             8.77 7.86 7.44 7.14 8.24    
Other Cost BGN mil             54.6 62.8 67.4 67.1 71.6    
Operating Cost BGN mil             92.9 102 106 106 112    
Operating Profit BGN mil             24.2 20.3 17.3 15.1 37.2    
Provisions BGN mil             10.0 8.65 6.23 8.20 28.0    
Extra and Other Cost BGN mil             0 0 0 -1.32 0    
Pre-Tax Profit BGN mil             14.2 11.7 11.0 8.20 9.23    
Tax BGN mil             1.56 1.58 0.891 0.580 1.72    
Minorities BGN mil             0 0 0 0 0    
Net Profit BGN mil             12.6 10.1 10.1 7.26 6.70    
growth rates                          
Net Interest Income Growth % ...           -22.9 -1.87 4.88 -6.75 53.3    
Net Fee Income Growth % ...           0.218 23.9 7.23 14.9 5.53    
Total Revenue Growth % ...           -2.89 4.80 0.533 -2.23 24.0    
Operating Cost Growth % ...           4.97 10.2 3.62 -0.536 6.46    
Operating Profit Growth % ...           -24.6 -16.1 -15.0 -12.7 147    
Pre-Tax Profit Growth % ...           -43.2 -17.7 -5.42 -25.7 12.6    
Net Profit Growth % ...           -43.6 -20.1 0.585 -28.5 -7.59    
market share                          
Market Share in Revenues %             2.98 3.21 3.33 3.09 3.62    
Market Share in Net Profit %             2.66 1.92 2.01 1.02 0.746    
Market Share in Employees %           ... ... ... 6.67 6.88 7.33    
Market Share in Bank Cards % ... ... ... ... ... ... ... ... ... 9.43 9.34    
Market Share in Debit Cards % ... ... ... ... ... ... ... ... ... ... 10.4    
Market Share in Credit Cards % ... ... ... ... ... ... ... ... ... ... 3.92    
Market Share in Branches %           ... ... ... 7.19 7.45 7.98    
balance sheet Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                          
Cash BGN mil             460 872 931 1,197 908    
Interbank Loans BGN mil             420 184 294 191 204    
Customer Loans BGN mil             1,423 1,590 1,772 1,814 2,087    
Retail Loans BGN mil             266 232 227 273 370    
Mortgage Loans BGN mil ... ... ... ... ... ... ... ... ... ... ...    
Consumer Loans BGN mil ... ... ... ... ... ... ... ... ... ... ...    
Corporate Loans BGN mil             1,183 1,385 1,572 1,574 1,773    
Debt Securities BGN mil             565 576 609 781 1,026    
Fixed Assets BGN mil             59.9 61.7 82.0 75.2 98.8    
Total Assets BGN mil             3,003 3,349 3,745 4,181 4,643    
Shareholders' Equity BGN mil             333 347 356 363 380    
Of Which Minority Interest BGN mil             0 0 0 0 0    
Liabilities BGN mil             2,670 3,002 3,389 3,817 4,264    
Interbank Borrowing BGN mil             62.9 72.5 23.2 21.3 18.3    
Customer Deposits BGN mil             2,577 2,869 3,278 3,717 4,167    
Retail Deposits BGN mil             1,692 1,858 2,142 2,788 3,188    
Corporate Deposits BGN mil             872 983 1,107 908 967    
Sight Deposits BGN mil ... ... ... ... ... ... ... ... 1,182 1,798 2,159    
Term Deposits BGN mil ... ... ... ... ... ... ... ... 2,067 1,898 1,996    
Issued Debt Securities BGN mil             0.762 46.0 70.2 70.1 70.1    
Other Liabilities BGN mil             30.0 14.5 17.3 8.98 8.37    
asset quality                          
Non-Performing Loans BGN mil ...           44.7 44.0 41.7 37.4 221    
Gross Loans BGN mil             1,449 1,618 1,800 1,847 2,144    
Total Provisions BGN mil             25.8 27.2 27.7 32.8 56.6    
growth rates                          
Customer Loan Growth % ...           19.2 11.7 11.4 2.38 15.0    
Retail Loan Growth % ...           -14.3 -12.8 -2.02 20.0 35.6    
Mortgage Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ...  
Consumer Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ...  
Corporate Loan Growth % ...           30.5 17.1 13.5 0.109 12.7    
Total Asset Growth % ...           31.4 11.5 11.8 11.6 11.1    
Shareholders' Equity Growth % ...           21.5 4.34 2.62 2.00 4.53    
Customer Deposit Growth % ...           33.9 11.3 14.3 13.4 12.1    
Retail Deposit Growth % ...           46.3 9.84 15.3 30.2 14.3    
Corporate Deposit Growth % ...           16.1 12.8 12.5 -18.0 6.57    
market share                          
Market Share in Customer Loans %             2.63 2.86 3.17 3.52 4.12    
Market Share in Corporate Loans %             3.54 3.95 4.48 5.08 5.82    
Market Share in Retail Loans % ... ... ... ... ... ... ... ... ... ... ...    
Market Share in Consumer Loans %             1.41 1.24 1.22 1.49 2.04    
Market Share in Mortgage Loans % ... ... ... ... ... ... ... ... ... ... ...    
Market Share in Total Assets %             5.00 5.19 5.37 5.96 6.10    
Market Share in Customer Deposits %             4.82 4.95 5.21 5.79 6.23    
Market Share in Retail Deposits %             5.48 5.39 5.68 7.10 7.49    
Market Share in Corporate Deposits %             6.38 6.89 7.16 5.91 5.31    
ratios Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                          
ROE %             4.16 2.97 2.88 2.02 1.80    
ROA %             0.477 0.318 0.286 0.183 0.152    
Costs (As % Of Assets) %             3.51 3.22 2.99 2.66 2.55    
Costs (As % Of Income) %             79.3 83.4 86.0 87.5 75.1    
Capital Adequacy Ratio %           ... ... ... 15.0 16.6 15.2    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... 13.8 12.7    
Net Interest Margin %             2.01 1.64 1.54 1.29 1.77    
Interest Spread % ...           1.50 1.21 1.23 1.04 1.61    
Asset Yield %             5.90 5.20 4.39 3.76 3.49    
Cost Of Liabilities % ...           4.40 3.98 3.17 2.73 1.88    
Interest Income (As % Of Revenues) %             45.3 42.4 44.3 42.2 52.2    
Fee Income (As % Of Revenues) %             21.2 25.1 26.8 31.5 26.8    
Other Income (As % Of Revenues) %             33.4 32.5 29.0 26.3 21.0    
Cost Per Employee USD per month           ... ... ... 808 787 706    
Cost Per Employee (Local Currency) BGN per month           ... ... ... 1,190 1,195 1,202    
Staff Cost (As % Of Total Cost) %             31.7 31.0 29.4 29.6 28.9    
Equity (As % Of Assets) %             11.1 10.4 9.51 8.69 8.18    
Loans (As % Of Deposits) %             55.2 55.4 54.1 48.8 50.1    
Loans (As % Assets) %             47.4 47.5 47.3 43.4 44.9    
NPLs (As % Of Loans) % ...           3.08 2.72 2.32 2.02 10.3    
Provisions (As % Of NPLs) % ...           57.7 61.9 66.3 87.9 25.6    
Provisions (As % Of Loans) %             1.81 1.71 1.56 1.81 2.71    
Cost of Provisions (As % Of Loans) %             0.766 0.574 0.371 0.457 1.44    
other data Unit 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                          
Branches           ... ... ... 271 277 294    
Employees           ... ... ... 2,185 2,181 2,248    
ATMs ... ... ... ... ... ... ... ... 410 461 501    
Clients mil ... ... ... ... ... ... ... ... 1.47 1.56 1.62    
Payment Cards '000 ... ... ... ... ... ... ... ... ... 692 680    
Debit Cards '000 ... ... ... ... ... ... ... ... ... ... 643    
Credit Cards '000 ... ... ... ... ... ... ... ... ... ... 37.0    
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... 36.1 48.4 51.8    

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CCB's customer loans rose 2.54% to BGN 2,215 mil in 2017

By Helgi Analytics - September 22, 2018

Central Cooperative Bank's customer loans reached BGN 2,215 mil in 2017, up 2.54% compared to the previous year. Bulgarian banking sector provided customer loans of BGN 59.7 bil in 2017, up 6.73% when compared to the last year. Central Cooperative Bank ac...

CCB's corporate deposits rose 18.7% to BGN 1,245 mil in 2017

By Helgi Analytics - September 22, 2018

Central Cooperative Bank's corporate deposits reached BGN 1,245 mil in 2017, up 18.7% compared to the previous year. Bulgarian banking sector accepted corporate deposits of BGN 22.0 bil in 2017, up 13.8% when compared to the last year. Central Cooperative...

CCB's retail deposits rose 5.79% to BGN 3,591 mil in 2017

By Helgi Analytics - September 22, 2018

Central Cooperative Bank's retail deposits reached BGN 3,591 mil in 2017, up 5.79% compared to the previous year. Bulgarian banking sector accepted retail deposits of BGN 47.8 bil in 2017, up 5.40% when compared to the last year. Central Cooperative Bank ...

CCB's branches rose 1.63% to 311 in 2017

By Helgi Analytics - September 22, 2018

Central Cooperative Bank employed 2,152 persons in 2017, down 7.08% compared to the previous year. Historically, the bank's workforce hit an all time high of 2,316 persons in 2016 and an all time low of 2,152 in 2017. The bank operated a network of 311 bra...

CCB's corporate loans fell 6.50% to BGN 1,630 mil in 2017

By Helgi Analytics - December 12, 2019

Central Cooperative Bank's corporate loans reached BGN 1,630 mil in 2017, down 6.50% compared to the previous year. Bulgarian banking sector provided corporate loans of BGN 31.0 bil in 2017, up 1.61% when compared to the last year. Central Cooperative Ban...

CCB's costs (as % of assets) fell 8.41% to 2.51% in 2017

By Helgi Analytics - September 22, 2018

Central Cooperative Bank's cost to income ratio reached 65.7% in 2017, down from 67.2% compared to the previous year. Historically, the bank’s costs reached an all time high of 87.5% of income in 2014 and an all time low of 65.7% in 2017. When compared to ...

CCB's npls (as % of loans) rose 0.073% to 8.16% in 2017

By Helgi Analytics - September 22, 2018

Central Cooperative Bank's non-performing loans reached 8.16% of total loans at the end of 2017, up from 8.16% compared to the previous year. Historically, the NPL ratio hit an all time high of 12.6% in 2006 and an all time low of 2.02% in 2014. Provision c...

CCB's net interest income rose 6.70% to BGN 128 mil in 2017

By Helgi Analytics - September 2, 2018

Central Cooperative Bank generated total banking revenues of BGN 207 mil in 2017, up 3.35% 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 207 mil in 2017...

CCB's employees fell 7.08% to 2,152 in 2017

By Helgi Analytics - September 22, 2018

Central Cooperative Bank employed 2,152 persons in 2017, down 7.08% when compared to the previous year. Historically, the bank's workforce hit an all time high of 2,319 persons in 2009 and an all time low of 1,111 in 2005. Average cost reached USD 862 per month p...

CCB's net interest margin fell 3.29% to 2.36% in 2017

By Helgi Analytics - September 2, 2018

Central Cooperative Bank's net interest margin amounted to 2.36% in 2017, down from 2.44% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 4.34% in 2006 and an all time low of 1.29% in 2014. The ave...

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Central Cooperative Bank AD Sofia (Tsentralna Kooperativna Banka AD Sofia) is a Bulgaria-based commercial bank. The Bank offers a wide range of banking and other financial services to commercial and private banking clients. Its products include loans, current and saving accounts, and deposits amongst others. In addition to providing mainstream banking products, the Group undertakes insurance activities, stock brokerage, investment in mutual funds, leasing services, real estate investment management and financial advice, amongst others. At the end of 2013, the Bank operated 221 branches and held a 5% market share in terms of assets in Bulgaria. The Bank was founded in 1991 and is based in Sofia. The Bank is owned by CCB Group

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Finance

Central Cooperative Bank has been growing its revenues and asset by 7.97% and 13.7% a year on average in the last 10 years. Its loans and deposits have grown by 12.9% and 13.9% a year during that time and loans to deposits ratio reached 45.6% at the end of 2017. The company achieved an average return on equity of 5.67% in the last decade with net profit growing 6.37% a year on average. In terms of operating efficiency, its cost to income ratio reached 65.7% in 2017, compared to 76.4% average in the last decade.

Equity represented 7.91% of total assets or 20.2% of loans at the end of 2017. Central Cooperative Bank's non-performing loans were 8.16% of total loans while provisions covered some 62.1% of NPLs at the end of 2017.