Financial and business news from Bulgaria

Over 2 Million Bulgarians Throw in Borches

The latest data as of September 2020 show that 2 075 203 people in Bulgaria have loans between 1000 and 5000 BGN. This shows the statistics of the Bulgarian National Bank (BNB).
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The total number includes independent entrepreneurs as sole traders and self-employed, as well as non-commercial organizations serving households (NTOLD), whose group includes trade unions, foundations, community centers, sports clubs and other organizations. Expected, the largest share in the group is taken by those with loans up to 1000 BGN - there are 1 407,373 Bulgarians with such borches for BGN 407.5 million.

Second place are the indebted by between 1000 and 2500 BGN, or that is 397,553 people who owe a total of BGN 648.7 million.

Third in the groups considered are clients with loans for between BGN 2500 and 5000. They number 270,376 people who have loans totalling BGN 986.8 million. It is curious to note that in just a year there has been a decline of around 15 per cent in the total number of indebted by the three groups. As of the end of September 2019 there are 2.3 million Bulgarians with borches up to 5000 BGN, which is 242,389 more people compared to this year's result.

The trend remains that those with loans up to 1000 BGN are the most numerous group. On a quarterly basis, there was also a decrease, albeit less - from 2,09897 people as of the end of June 2020 to 2,075,302 people as of the end of the third quarter for this year. Expected, a decrease is also reported in amounts due.

Although the already listed groups do not have a particularly large difference on an annual basis, there is a significant increase in the number of Bulgarians with loans between BGN 50 and 500 thousand. BNB figures show that there is double-digit growth in the number of customers with such borches. As of the end of September 2019 there were 64,152 people with loans between BGN 50 and BGN 100 thousand.

Now their number is 71,178 people, or 11% more. Another 30 912 Bulgarians owe between BGN 100-250 thousand. Today the number is 36 699 people (18.7% growth). 3290 people occupied between 250 and 500 grand, and the most recent data show that the number is already 3878 people (17.9% growth).

In the credit millionaires group, the trend is maintained compared to September 2019 as well as compared to the previous quarter of 2020. As of September 2020 there are 132 people with loans for over BGN 1 million, which is 5 more compared to June 2020 and 11 less compared to September 2019.