/ world today news/ Only ten days ago, no one in our country thought to ask questions about the stability of banks.
Is the banking system in Bulgaria stable? Only ten days ago, no one in our country asked this question. Because there was no doubt that our financial institutions are unshakable and are among the few indisputable advantages of our country. But what happened in the meantime? What changes have occurred in these few days in Bulgarian banks and why is this issue relevant today? The answer must come from reason, not from fear.
Bulgarian banks continue to be just as stable as they were last week and last month. And much more stable than last year. When we say stable, we must also add – Bulgarian banks are full of money. This is a fact and the BNB statistics confirm it every month. Our financial institutions have managed to preserve themselves, not to risk in vain and to preserve the money of their depositors. Credit for this also goes to the Central Bank, which kept a tight rein on regulations and restrictions for years. Although this strictness often caused grumbling among the banking class, it was clearly necessary. We should not remain silent that stability is often built at the expense of business financing, but this also has its own explanations. The last few years were marked by the financial crisis, which in Bulgaria dragged on a little longer than we would have liked. That’s why banks have become very careful when granting loans, especially to companies. Maybe one day they will thank us for this, the head of one of our major credit institutions told me some time ago.
In addition to liquidity, the native treasuries also enjoy the trust of the Bulgarians – deposits are growing every day despite the drop in profitability. Bulgarians are known for their saying: “White money for rainy days”. And this is exactly what the numbers for the money hidden in the vaults confirm.
Confidence in the banks is a fact, although the nightmarish specter of the bank failures of 1996-1997 has not yet been forgotten. Many people then lost their savings. The nightmare of hyperinflation, the mountain of unnecessary levies, despair and impasse should be in the ears of everyone, from ordinary citizens to politicians and statesmen.
After 17 years, the tremors surrounding the Corporate Commercial Bank (KTB) have awakened the specter of fear. The closure of the bank has caused sleepless nights among its employees and especially among its customers. But after the initial shock wears off, it is fair to realize that the bank actually closed its doors not for financial but for political-corporate reasons.
The crisis in our political system has unfortunately spilled over and the thunder has fallen on one of our biggest banks.
Irresponsible talk is currently fueling the fire of fear.
Right now is the time for sober assessments and calm analysis of what is happening. We currently have a sufficiently stable banking system that can handle the tremor. As long as it’s not played out of spite.
Copied from standartnews.com
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