/ world today news/The super-rich among citizens are decreasing, however
In just three months, the number of millionaires in Bulgaria decreased by 20, according to BNB statistics at the end of June. In March, 607 Bulgarian citizens had deposits for over a million BGN, and at the end of June there were already 587. The total amount of citizens’ deposits in banks is BGN 11.4 billion, which is 5.5% less than June 2014. At the same time, as a total from March to June, money in million deposits increased by 0.4%. Which means that fewer people have more money in their accounts. Compared to a year earlier, millionaires are fewer by 145. By 18.6% or 341 million is the decrease in money in especially large deposits for a year – from 1.835 billion to 1.493 billion. The biggest drop is in deposits between BGN 200 and 500,000 – 21.4% on an annual basis.
The explanation for this is that many people who had deposits over BGN 200 thousand were scalded by the bankruptcy of KTB and lost part of their money. That is why deposits up to BGN 200,000 accounts are massively broken, which is the size of guaranteed accounts in banks, bank employees comment. That is why deposits from BGN 100 to 200,000 saw the biggest growth of 15.4%. However, the millions in company accounts continue to grow. The number of these entrepreneurs increased by 50 per year, which is a growth of 2.4%. These data indicate that businesses are still in no rush to expand or invest in new production. Deposits up to BGN 200,000 -21.5% showed the highest growth here as well. Credit millionaires are also decreasing – both at companies and at households. In just one year, large corporate loans for over one million have decreased by nearly BGN 5 billion or by 17.8%. This shows that the long-awaited recovery in the economy is being delayed again. Large loans for citizens, on the other hand, have pulled back 13.3 percent or BGN 21.5 million. Only the smallest loans of up to BGN 1,000 have seen growth.
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Banks with Bulgarian government securities for 5.76 billion
Over the last 12 months, banks in Bulgaria have increased their investments in Bulgarian government securities (government securities) by 6.52% or by 352.2 million BGN to 5.756 billion. Thus, the share of government bonds in the banks’ portfolios reaches 6.86 %, according to the calculations of Investor.bg based on BNB data. Banks hold the largest amount of government securities, followed by insurance companies and pension funds as investors in Bulgarian government debt.
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