Municipal Bank

Municipal's customer deposits rose 15.0% to BGN 1,411 mil in 2017

By Helgi Analytics - September 3, 2018

Municipal Bank's customer deposits reached BGN 1,411 mil in 2017, up 15.0% compared to the previous year. Bulgarian banking sec...

Municipal's net interest margin fell 9.91% to 2.28% in 2017

By Helgi Analytics - September 3, 2018

Municipal Bank's net interest margin amounted to 2.28% in 2017, down from 2.53% compared to the previous year. Historicall...

Municipal's net profit rose 111% to BGN 4.67 mil in 2017

By Helgi Analytics - September 3, 2018

Municipal Bank made a net profit of BGN 4.67 mil under revenues of BGN 41.8 mil in 2017, up 111% and -2.84% respectively compared to ...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 28.6 31.8 32.2
Fee Income (As % Of Revenues) % 20.4 20.4 23.6
Other Income BGN mil 5.34 2.50 -0.272
Total Revenues BGN mil 42.6 43.0 41.8
Operating Profit BGN mil 4.86 3.57 5.85
Provisions BGN mil -0.982 1.50 1.70
Net Profit BGN mil 5.41 2.21 4.67
Balance Sheet 2015 2016 2017
Customer Loans BGN mil 393 448 435
Debt Securities BGN mil 548 657 684
Total Assets BGN mil 1,193 1,320 1,510
Shareholders' Equity BGN mil 80.9 90.5 95.5
Interbank Borrowing BGN mil 0 0 0
Customer Deposits BGN mil 1,110 1,227 1,411
Issued Debt Securities BGN mil 0 0 0
Ratios 2015 2016 2017
ROE % 6.92 2.57 5.02
ROA % 0.443 0.176 0.330
Costs (As % Of Assets) % 3.09 3.14 2.54
Costs (As % Of Income) % 88.6 91.7 86.0
Net Interest Margin % 2.34 2.53 2.28
Loans (As % Of Deposits) % 35.4 36.5 30.8
Growth Rates 2015 2016 2017
Total Revenue Growth % -1.07 1.12 -2.84
Operating Cost Growth % 3.06 4.69 -8.87
Operating Profit Growth % -24.5 -26.6 64.0
Net Profit Growth % -5.91 -59.2 111
Customer Loan Growth % 1.44 14.0 -3.03
Total Asset Growth % -4.31 10.7 14.4
Customer Deposit Growth % -4.77 10.5 15.0
Shareholders' Equity Growth % 7.33 11.9 5.43

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Net Interest Income BGN mil         30.5 31.5 31.7 25.7 28.6    
Total Revenues BGN mil         44.6 57.7 50.0 43.0 42.6    
Operating Profit BGN mil         9.82 24.7 16.0 6.44 4.86    
Net Profit BGN mil         2.91 6.03 6.05 5.75 5.41    
balance sheet                      
Customer Loans BGN mil         418 365 457 388 393    
Debt Securities BGN mil         402 426 501 525 548    
Total Assets BGN mil         954 1,017 1,156 1,247 1,193    
Shareholders' Equity BGN mil         63.0 63.4 69.6 75.4 80.9    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         888 949 1,082 1,166 1,110    
Issued Debt Securities BGN mil         0 0 0 0 0    
ratios                      
ROE %         4.73 9.54 9.10 7.93 6.92    
ROA %         0.299 0.611 0.557 0.479 0.443    
Costs (As % Of Assets) %         3.56 3.34 3.13 3.05 3.09    
Costs (As % Of Income) %         78.0 57.1 68.0 85.0 88.6    
Net Interest Margin %         3.13 3.20 2.91 2.14 2.34    
Interest Income (As % Of Revenues) %         68.4 54.7 63.4 59.6 67.1    
Fee Income (As % Of Revenues) %         23.7 16.3 17.7 20.6 20.4    
Equity (As % Of Assets) %         6.60 6.23 6.03 6.05 6.78    
Loans (As % Of Deposits) %         47.1 38.5 42.2 33.3 35.4    
Loans (As % Assets) %         43.8 35.9 39.5 31.1 33.0    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Interest Income BGN mil         54.8 53.1 52.4 45.1 40.4    
Interest Cost BGN mil         24.3 21.6 20.7 19.5 11.9    
Net Interest Income BGN mil         30.5 31.5 31.7 25.7 28.6    
Net Fee Income BGN mil         10.6 9.37 8.87 8.85 8.67    
Other Income BGN mil         3.53 16.8 9.45 8.52 5.34    
Total Revenues BGN mil         44.6 57.7 50.0 43.0 42.6    
Depreciation BGN mil         3.01 2.31 2.19 2.03 2.05    
Operating Cost BGN mil         34.8 32.9 34.0 36.6 37.7    
Operating Profit BGN mil         9.82 24.7 16.0 6.44 4.86    
Provisions BGN mil         6.87 19.0 9.98 0.314 -0.982    
Extra and Other Cost BGN mil         -0.321 -0.291 -0.343 -0.331 -0.243    
Pre-Tax Profit BGN mil         3.27 6.03 6.37 6.46 6.09    
Tax BGN mil         0.357 0 0.316 0.708 0.676    
Minorities BGN mil         0 0 0 0 0    
Net Profit BGN mil         2.91 6.03 6.05 5.75 5.41    
growth rates                      
Net Interest Income Growth % ...       17.2 3.33 0.444 -19.0 11.3    
Net Fee Income Growth % ...       9.40 -11.3 -5.31 -0.214 -2.03    
Total Revenue Growth % ...       16.0 29.3 -13.3 -13.9 -1.07    
Operating Cost Growth % ...       -1.86 -5.35 3.24 7.66 3.06    
Operating Profit Growth % ...       227 152 -35.3 -59.7 -24.5    
Pre-Tax Profit Growth % ...       56.9 84.3 5.61 1.46 -5.76    
Net Profit Growth % ...       59.7 107 0.365 -4.94 -5.91    
market share                      
Market Share in Revenues %         1.14 1.51 1.35 1.10 1.03    
Market Share in Net Profit %         0.615 1.15 1.20 0.809 0.602    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                      
Cash BGN mil         83.5 171 145 278 190    
Customer Loans BGN mil         418 365 457 388 393    
Debt Securities BGN mil         402 426 501 525 548    
Fixed Assets BGN mil         44.2 49.6 48.9 48.4 48.8    
Total Assets BGN mil         954 1,017 1,156 1,247 1,193    
Shareholders' Equity BGN mil         63.0 63.4 69.6 75.4 80.9    
Of Which Minority Interest BGN mil         0 0 0 0 0    
Liabilities BGN mil         891 954 1,086 1,171 1,112    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         888 949 1,082 1,166 1,110    
Issued Debt Securities BGN mil         0 0 0 0 0    
Other Liabilities BGN mil         0 0 0 0 0    
growth rates                      
Customer Loan Growth % ...       -17.4 -12.6 24.9 -15.1 1.44    
Total Asset Growth % ...       -4.28 6.59 13.6 7.89 -4.31    
Shareholders' Equity Growth % ...       4.54 0.565 9.87 8.28 7.33    
Customer Deposit Growth % ...       -2.81 6.91 13.9 7.78 -4.77    
market share                      
Market Share in Customer Loans %         0.772 0.656 0.818 0.752 0.776    
Market Share in Total Assets %         1.59 1.58 1.66 1.78 1.57    
Market Share in Customer Deposits %         1.66 1.64 1.72 1.82 1.66    
ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                      
ROE %         4.73 9.54 9.10 7.93 6.92    
ROA %         0.299 0.611 0.557 0.479 0.443    
Costs (As % Of Assets) %         3.56 3.34 3.13 3.05 3.09    
Costs (As % Of Income) %         78.0 57.1 68.0 85.0 88.6    
Net Interest Margin %         3.13 3.20 2.91 2.14 2.34    
Interest Spread % ...       2.96 3.05 2.79 2.03 2.27    
Asset Yield %         5.62 5.38 4.82 3.76 3.31    
Cost Of Liabilities % ...       2.66 2.34 2.03 1.72 1.04    
Interest Income (As % Of Revenues) %         68.4 54.7 63.4 59.6 67.1    
Fee Income (As % Of Revenues) %         23.7 16.3 17.7 20.6 20.4    
Other Income (As % Of Revenues) %         7.92 29.1 18.9 19.8 12.5    
Equity (As % Of Assets) %         6.60 6.23 6.03 6.05 6.78    
Loans (As % Of Deposits) %         47.1 38.5 42.2 33.3 35.4    
Loans (As % Assets) %         43.8 35.9 39.5 31.1 33.0    
Cost of Provisions (As % Of Loans) %         1.49 4.85 2.43 0.074 -0.251    

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Municipal's total revenues fell 2.84% to BGN 41.8 mil in 2017

By Helgi Analytics - September 20, 2018

Municipal Bank generated total banking revenues of BGN 41.8 mil in 2017, down 2.84% 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 the last year. ...

Municipal's customer loans fell 3.03% to BGN 435 mil in 2017

By Helgi Analytics - September 3, 2018

Municipal Bank's customer loans reached BGN 435 mil in 2017, down 3.03% 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. Municipal Bank accounted for 0.729% o...

Municipal's net interest income rose 1.46% to BGN 32.2 mil in 2017

By Helgi Analytics - September 3, 2018

Municipal Bank generated total banking revenues of BGN 41.8 mil in 2017, down 2.84% 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 57.7 mil in 2012 and a...

Municipal's customer loan growth fell 122% to -3.03% in 2017

By Helgi Analytics - September 3, 2018

Municipal Bank's customer loan growth reached -3.03% in 2017, down from 14.0% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 30.3% in 2010 and an all time low of -28.1% in 2008. In the last decade, the ave...

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Finance

Municipal Bank has been growing its revenues and asset by -0.944% and 6.61% a year on average in the last 3 years. Its loans and deposits have grown by 3.89% and 6.58% a year during that time and loans to deposits ratio reached 30.8% at the end of 2017. The company achieved an average return on equity of 4.84% in the last three years with net profit growing -6.73% a year on average. In terms of operating efficiency, its cost to income ratio reached 86.0% in 2017, compared to 88.8% average in the last three years.

Equity represented 6.32% of total assets or 22.0% of loans at the end of 2017. Municipal Bank's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2017.