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

120 kg of gold seized at Capitan Andreevo BCP

Customs officials have seized a record 120 kg of gold at the Kapitan Andreevo checkpoint on the border with Turkey. Gold bars, coins and jewellery were seized. The driver, a Bulgarian national, was arrested and charged. Another man with Bulgarian and..

published on 9/13/24 3:53 PM
Graf Ignatievo Air Base

UPDATED: Two pilots killed as military plane crashes while training for air show

Defence Minister Atanas Zapryanov has cancelled the air show at the Graf Ignatievo Air Base after an L-39 ZA military transport plane crashed, the Defence Ministry said. The accident occurred during preparations for tomorrow's demonstrations to..

published on 9/13/24 1:56 PM

President Radev urges Skopje to be realistic in bilateral relations

Bulgaria has always been open to dialogue with North Macedonia and expects that this dialogue will contribute not only to our cultural rapprochement, but also to the strengthening of economic cooperation. We expect that this dialogue will finally..

published on 9/13/24 1:47 PM