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Bank charges in Bulgaria continue to rise – Novinite.com

The upward trend costs this banks collect for various products and services keep on going. The next increase has been a fact since the beginning of August, mainly referring to the service in the branches. The explanation is that, in addition to inflation, the administrative costs of maintaining a branch network services locally more expensive.

Change is a fact at most banksand some of them raised costs also in September. Bank transfer in a branch already costs 4-5 leva (2 EUR), and for some it reaches up to 6 leva.

During the first six months of the year, bank fee income increased at a faster rate than interest income. At the end of June, the increase on an annual basis was 20% to BGN 700 million, Bulgarian media “Capital” reports.

According to them, due to the start of interest rate hikes, the trend that appeared years ago may be reversed – with an increase in costs to offset the decline in interest income.

A new trend is that when withdrawing from an ATM with a debit card, the fee will be a percentage of the amount withdrawn with a fixed minimum rate. Until now, this was the practice for credit cards.

Changes are also being prepared for October, for example, in the largest bank – “Unicredit Bulbank”, opening an account with a debit card will now cost 8 BGN, compared to 2 BGN at the moment. The fees are in fact equal to those of opening an account without a card. The bank will also slightly increase account fees for basic operations.

In the first seven months of 2022, the profit of the banking system reached BGN 1.2 billion, which represents a growth of almost 50% on an annual basis. The net income of costs and commissions in July jumped more than 21% on an annual basis to reach BGN 830 million. In nominal terms, the increase in volume for the last year is almost BGN 147 million. This is largely due to the increase costs of the banksbut the still high economic activity, which is accompanied by more transfers and other servicesalso contributes.

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Информирайте се на Български – Novinity.bg