Central Cooperative Bank JSC - Sofia - Short Company profile

As of December 31, 2023, 23 banks operate in Bulgaria's banking sector, 6 of which are branches of foreign credit institutions. Total assets of the banking system as of December 31 last year. amounted to BGN 172.1 billion, marking an increase of 4.22% compared to September 30. The share of the five largest banks based on total assets in the banking system as of December 31 is 76.84 percent. United Bulgarian Bank AD remains in the leading position with assets in the amount of BGN 34.0 billion or 19.78% market share, marking a growth of 4.63% in assets compared to September 30, 2023. Bank DSK AD is in second position with a 19.05% market share and a growth in assets of 5.48% compared to the previous quarter. In third position is Unicredit Bulbank AD with an unchanged market share of 18.67% compared to the end of the previous quarter and a growth in assets of 4.21% compared to September 30. The fourth and fifth positions, unchanged compared to the end of the previous quarter, are occupied respectively by Eurobank Bulgaria AD and First Investment Bank AD. The net assets of the banks as of December 31, 2023 amounted to BGN 20.0 billion, marking an increase of 3.55% compared to September 30. Bank DSK AD remains in the leading position according to this indicator - as of December 31, its net assets have increased by 6.38% compared to September 30, 2023. A growth of 4.52% in net assets was registered by Unicredit Bulbank AD as of December 31 and remains in second place by this indicator. United Bulgarian Bank AD occupies the third position in terms of net assets as of December 31, reporting a growth of 3.84% compared to September 30, 2023. Eurobank Bulgaria AD continues to occupy the fourth position, reporting a growth in net assets of 4.40% compared to September 30. First Investment Bank AD remains in fifth position with a growth in net assets of 0.66% compared to September 30, 2023. The net profit of the banking system marked a significant growth of 64.35%, reaching BGN 3.4 billion for 2023, compared to BGN 2.1 billion for 2022. Bank DSK AD occupies the leading position with a profit of BGN 1.0 billion or a 29.44% share of the profits in the sector for the last year, reporting a growth of 77.53% compared to the previous year. Unicredit Bulbank AD is in second position in terms of profit share in the sector, namely 23.61%, reporting an increase of 73.15% and reaching BGN 807 million for 2023 compared to BGN 466 million for 2022. United Bulgarian Bank AD doubles its profit from the previous year, reaching BGN 472 million for 2023 or a growth of 211.43%, rising to the third position with a 13.81% share in the profits of the sector. Eurobank Bulgaria AD is in fourth position with a profit of BGN 308 million and a market share of 9.02% for 2023, registering an increase of 49.02% compared to 2022. First Investment Bank AD climbs to the fifth position with a profit of BGN 135 million, registering an increase of 68.70% compared to 2022. The return on assets (calculated on the basis of Net profit / Total assets) amounts to 1.99% in total for the banking system throughout 2023 compared to 1.34% for 2022. According to this indicator, Citibank Europe AD - Bulgaria Branch is in the leading position with 3.59%, marking an increase compared to the previous year, when the return on assets was 1.30 percent. TBI Bank EAD occupies the second position with a 3.58% return on assets for 2023 compared to 6.03% for 2022. Next positions are occupied by Varengold Bank AG, Sofia Branch with 3.33%, DSK Bank AD with 3.07% and Targovska Banka D AD, which is in fifth place with 2.66 percent. Return on equity (calculated on a Net Profit / Equity basis, with the ranking excluding foreign bank branches), increases to 16.72% for 2023, compared to 11.77% a year earlier. With the highest return on equity remains TBI Bank EAD with 22.76%, and in second place is DSK Bank AD with 22.56%, followed by Unicredit Bulbank AD with 22.03%, Targovska Banka D AD with 20.78% and International Asset Bank AD with 18.95 percent. The efficiency indicator (calculated on the basis of the ratio between administrative expenses and total net operating income) reports an improvement from 37.36% for 2022 to 31.80 percent. In the leading position according to this indicator for 2023 is Unicredit Bulbank AD with 23.10% compared to 29.06% for 2022. Bank DSK AD is in second position, reporting an improvement in efficiency from 28.03% for 2022 to 24.37 percent. Citibank Europe AD – Bulgaria Branch climbs to third position, reporting an increase in efficiency from 38.19% in 2022 to 25.86% in 2023. Next come Investbank AD and Te-Je Ziraat Bankas - Sofia Branch in fourth and fifth position, respectively.