Ziraat Bank Bulgaria

Ziraat's net profit rose 68.5% to BGN 1.51 mil in 2017

By Helgi Analytics - September 3, 2018

Ziraat Bank Bulgaria made a net profit of BGN 1.51 mil under revenues of BGN 3.27 mil in 2017, up 68.5% and -17.7% respectively compa...

Ziraat's customer loans rose 19.3% to BGN 59.2 mil in 2017

By Helgi Analytics - September 3, 2018

Ziraat Bank Bulgaria's customer loans reached BGN 59.2 mil in 2017, up 19.3% compared to the previous year. Bulgarian banking s...

Ziraat's customer deposits rose 37.8% to BGN 82.8 mil in 2017

By Helgi Analytics - September 3, 2018

Ziraat Bank Bulgaria's customer deposits reached BGN 82.8 mil in 2017, up 37.8% compared to the previous year. Bulgarian bankin...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 2.98 2.69 1.96
Fee Income (As % Of Revenues) % 19.6 24.9 35.4
Other Income BGN mil 0.452 0.292 0.156
Total Revenues BGN mil 4.27 3.97 3.27
Operating Profit BGN mil 1.24 1.15 0.739
Provisions BGN mil 0.632 0.294 -0.736
Net Profit BGN mil 0.611 0.898 1.51
Balance Sheet 2015 2016 2017
Customer Loans BGN mil 46.3 49.7 59.2
Debt Securities BGN mil 17.4 16.8 8.82
Total Assets BGN mil 89.4 88.8 113
Shareholders' Equity BGN mil 28.2 28.3 30.1
Interbank Borrowing BGN mil 0 0 0
Customer Deposits BGN mil 60.1 60.1 82.8
Issued Debt Securities BGN mil 0 0 0
Ratios 2015 2016 2017
ROE % 2.17 3.18 5.18
ROA % 0.800 1.01 1.50
Costs (As % Of Assets) % 3.96 3.17 2.50
Costs (As % Of Income) % 70.9 71.1 77.4
Net Interest Margin % 3.90 3.02 1.93
Loans (As % Of Deposits) % 77.1 82.6 71.6
Growth Rates 2015 2016 2017
Total Revenue Growth % 31.9 -6.87 -17.7
Operating Cost Growth % 3.32 -6.59 -10.4
Operating Profit Growth % 302 -7.56 -35.7
Net Profit Growth % 799 47.0 68.5
Customer Loan Growth % 28.8 7.20 19.3
Total Asset Growth % 41.0 -0.628 27.7
Customer Deposit Growth % 71.7 0.058 37.8
Shareholders' Equity Growth % 0.470 0.465 6.16

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Net Interest Income BGN mil         1.80 2.10 2.07 2.11 2.98    
Total Revenues BGN mil         2.49 3.10 2.79 3.23 4.27    
Operating Profit BGN mil         -0.093 0.339 -0.101 0.309 1.24    
Net Profit BGN mil         -0.126 -1.14 -0.715 0.068 0.611    
balance sheet                      
Customer Loans BGN mil         32.3 20.6 28.7 36.0 46.3    
Debt Securities BGN mil         12.7 18.2 17.2 17.9 17.4    
Total Assets BGN mil         49.9 46.0 53.8 63.4 89.4    
Shareholders' Equity BGN mil         28.3 28.6 27.1 28.1 28.2    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         21.1 17.1 26.4 35.0 60.1    
Issued Debt Securities BGN mil         0 0 0 0 0    
ratios                      
ROE %         -0.465 -4.01 -2.57 0.246 2.17    
ROA %         -0.275 -2.38 -1.43 0.116 0.800    
Costs (As % Of Assets) %         5.63 5.75 5.79 4.99 3.96    
Costs (As % Of Income) %         104 89.1 104 90.4 70.9    
Net Interest Margin %         3.92 4.38 4.14 3.61 3.90    
Interest Income (As % Of Revenues) %         72.2 67.8 74.1 65.3 69.8    
Fee Income (As % Of Revenues) %         20.9 19.6 22.6 23.9 19.6    
Equity (As % Of Assets) %         56.8 62.2 50.5 44.3 31.5    
Loans (As % Of Deposits) %         153 121 109 103 77.1    
Loans (As % Assets) %         64.7 44.8 53.4 56.7 51.8    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Interest Income BGN mil         2.05 2.29 2.23 2.37 3.25    
Interest Cost BGN mil         0.248 0.187 0.166 0.260 0.274    
Net Interest Income BGN mil         1.80 2.10 2.07 2.11 2.98    
Net Fee Income BGN mil         0.520 0.608 0.631 0.772 0.836    
Other Income BGN mil         0.172 0.390 0.092 0.349 0.452    
Total Revenues BGN mil         2.49 3.10 2.79 3.23 4.27    
Depreciation BGN mil         0.251 0.270 0.250 0.241 0.261    
Operating Cost BGN mil         2.58 2.76 2.89 2.93 3.02    
Operating Profit BGN mil         -0.093 0.339 -0.101 0.309 1.24    
Provisions BGN mil         0.033 1.48 0.614 0.241 0.632    
Extra and Other Cost BGN mil         < 0.001 0 0 < 0.001 0    
Pre-Tax Profit BGN mil         -0.126 -1.14 -0.715 0.068 0.611    
Tax BGN mil         0 0 0 0 0    
Minorities BGN mil         0 0 0 0 0    
Net Profit BGN mil         -0.126 -1.14 -0.715 0.068 0.611    
growth rates                      
Net Interest Income Growth % ...       35.8 16.9 -1.57 2.23 40.9    
Net Fee Income Growth % ...       102 16.9 3.78 22.3 8.29    
Total Revenue Growth % ...       45.7 24.5 -9.94 15.9 31.9    
Operating Cost Growth % ...       7.72 6.86 4.78 1.18 3.32    
Operating Profit Growth % ...       -86.5 -465 -130 -406 302    
Pre-Tax Profit Growth % ...       -81.7 806 -37.4 -110 799    
Net Profit Growth % ...       -81.7 806 -37.4 -110 799    
market share                      
Market Share in Revenues %         0.063 0.081 0.075 0.083 0.103    
Market Share in Net Profit %       ... ... ... ... 0.010 0.068    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                      
Cash BGN mil         3.14 5.53 6.43 7.84 23.3    
Customer Loans BGN mil         32.3 20.6 28.7 36.0 46.3    
Debt Securities BGN mil         12.7 18.2 17.2 17.9 17.4    
Fixed Assets BGN mil         1.29 1.12 0.845 0.779 0.953    
Total Assets BGN mil         49.9 46.0 53.8 63.4 89.4    
Shareholders' Equity BGN mil         28.3 28.6 27.1 28.1 28.2    
Of Which Minority Interest BGN mil         0 0 0 0 0    
Liabilities BGN mil         21.5 17.4 26.6 35.3 61.2    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         21.1 17.1 26.4 35.0 60.1    
Issued Debt Securities BGN mil         0 0 0 0 0    
Other Liabilities BGN mil         0 0 0 0 0    
growth rates                      
Customer Loan Growth % ...       16.8 -36.1 39.3 25.2 28.8    
Total Asset Growth % ...       19.0 -7.72 16.8 17.9 41.0    
Shareholders' Equity Growth % ...       9.54 0.960 -5.23 3.48 0.470    
Customer Deposit Growth % ...       37.4 -19.2 54.7 32.3 71.7    
market share                      
Market Share in Customer Loans %         0.060 0.037 0.051 0.070 0.091    
Market Share in Total Assets %         0.083 0.071 0.077 0.090 0.117    
Market Share in Customer Deposits %         0.040 0.029 0.042 0.054 0.090    
ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                      
ROE %         -0.465 -4.01 -2.57 0.246 2.17    
ROA %         -0.275 -2.38 -1.43 0.116 0.800    
Costs (As % Of Assets) %         5.63 5.75 5.79 4.99 3.96    
Costs (As % Of Income) %         104 89.1 104 90.4 70.9    
Net Interest Margin %         3.92 4.38 4.14 3.61 3.90    
Interest Spread % ...       3.14 3.81 3.72 3.21 3.69    
Asset Yield %         4.46 4.77 4.48 4.05 4.26    
Cost Of Liabilities % ...       1.32 0.960 0.754 0.839 0.568    
Interest Income (As % Of Revenues) %         72.2 67.8 74.1 65.3 69.8    
Fee Income (As % Of Revenues) %         20.9 19.6 22.6 23.9 19.6    
Other Income (As % Of Revenues) %         6.91 12.6 3.30 10.8 10.6    
Equity (As % Of Assets) %         56.8 62.2 50.5 44.3 31.5    
Loans (As % Of Deposits) %         153 121 109 103 77.1    
Loans (As % Assets) %         64.7 44.8 53.4 56.7 51.8    
Cost of Provisions (As % Of Loans) %         0.110 5.60 2.49 0.745 1.54    

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Ziraat's net interest margin fell 36.0% to 1.93% in 2017

By Helgi Analytics - September 3, 2018

Ziraat Bank Bulgaria's net interest margin amounted to 1.93% in 2017, down from 3.02% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 4.93% in 2008 and an all time low of 1.93% in 2017. The average...

Ziraat's total revenues fell 17.7% to BGN 3.27 mil in 2017

By Helgi Analytics - September 20, 2018

Ziraat Bank Bulgaria generated total banking revenues of BGN 3.27 mil in 2017, down 17.7% 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 ye...

Ziraat's net interest income fell 27.3% to BGN 1.96 mil in 2017

By Helgi Analytics - September 3, 2018

Ziraat Bank Bulgaria generated total banking revenues of BGN 3.27 mil in 2017, down 17.7% 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 4.27 mil in 2015...

Ziraat's customer loan growth rose 168% to 19.3% in 2017

By Helgi Analytics - September 3, 2018

Ziraat Bank Bulgaria's customer loan growth reached 19.3% in 2017, up from 7.20% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 54.0% in 2008 and an all time low of -36.1% in 2012. In the last decade, the ...

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Finance

Ziraat Bank Bulgaria has been growing its revenues and asset by 0.349% and 21.4% a year on average in the last 3 years. Its loans and deposits have grown by 18.1% and 33.3% a year during that time and loans to deposits ratio reached 71.6% at the end of 2017. The company achieved an average return on equity of 3.51% in the last three years with net profit growing 181% a year on average. In terms of operating efficiency, its cost to income ratio reached 77.4% in 2017, compared to 73.1% average in the last three years.

Equity represented 26.5% of total assets or 50.8% of loans at the end of 2017. Ziraat Bank Bulgaria's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2017.