Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

Banking system not severely affected by coronavirus crisis

Photo: BGNES

The banking system has not been directly hit by the coronavirus crisis. At the moment it is stable and there is no increase in interest rates on loans, banker Levon Hampartzoumian has told bTV.

Comparing the current financial crisis with the one that occurred ten years ago, he said that the previous one was mainly a crisis of liquidity and mistrust between banks and a lack of sufficient capital in the banks themselves.

For ten years, things have improved in such a way that the world's banking and financial systems are more resilient to shocks, even some unpredictable shocks. These days in Bulgaria and around the world banks are in much better health condition in comparison to the previous crisis, Mr. Hampartzoumian added.

He also said that banks are the safest place to keep money. According to Hampartzoumian, the proof of this was that bank savings of Bulgarians have already reached 57 billion dollars.




Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Gallup: Nearly 60% of Bulgarians say they believe in God

75.3% of Bulgarians identify themselves as Orthodox, 9.9% as Muslim and 11% as not religious. 59.5% say they believe in God and 27.5% do not. The rest are undecided. A fifth of respondents say they frequently attend religious services.  These are..

published on 9/11/24 1:57 PM
Boyko Borissov

GERB leader Boyko Borissov calls for pragmatism in politics

GERB leader Boyko Borissov announced that he is extending a hand to the parties from the former assemblage to seek an option of governance after the elections, the BNR’s reporter Daniel Inkov informed. Boyko Borissov emphasized that pragmatism in..

published on 9/11/24 12:24 PM

Foundation supports children deprived of parental care

Before the start of the new school year, the ''Give a Book'' Foundation is collecting notebooks, plimsolls, pencil cases and backpacks filled with school supplies for homes for children deprived of parental care. For 14 years, the foundation has..

published on 9/11/24 11:50 AM