Bulgarian National Bank Reports Boom in Bad Fast Loans

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Against the backdrop of quick money ads flooding the public domain, the Bulgarian National Bank reported a boom in un-serviced fast loans.

By the end of December 2020, the worth of un-serviced loans granted by companies specializing in lending amounted to BGN 297.4 million. This is an increase of 57.8% (BGN 109.0 million) compared to the end of December 2019 and by 33.6% more (BGN 74.9 million) as compared to the end of September 2020.

Over a period of one year, the total worth of fast loans reached BGN 2.9 billion up to BGN 3.07 billion, which is a 5.86 percent increase.

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