1,585 are now the deposit accounts in which there are amounts over BGN 1 million.
Their number is constantly growing – now they are 271 more than in the first half of 2023, and in the last quarter alone they increased by 77. Another 20 people requested loans over 1 million BGN in the second quarter of the year.
This is what the BNB data for June show.
The number of deposits with more than BGN 1 million is probably not equal to that of real millionaires, since there may be one owner with several accounts.
Despite low interest rates, household savings continue to grow. The tendency is for the number of accounts to decrease slightly, but the amounts in them to increase. Those between BGN 50,000 and 100,000 continue to grow the fastest, while the smaller ones are decreasing the fastest – with up to BGN 5,000 in them.
Central bank statistics show that the trend for savings to be about twice as much as loans and to grow at rates close to income growth continues. This means that banks still have enough cheap money to lend and there is no reason to raise interest rates.
Another 20 people requested loans over BGN 1 million in the second quarter of the year. For the same period of 2023, they were 13. Most often, Bulgarians take out loans for home purchase, renovation, education, and during the summer season - for vacations.
At the end of June, the number of credit accounts of households is already over 2 billion, and the amount of loans received is half of the money saved by people - 42.2 billion BGN. The most frequent requests for loans from the population are for amounts from BGN 100,000 to BGN 250,000.
Corporate loans are more than savings - businesses received BGN 46.7 billion in loans, and the most common amount requested is over BGN 1 million, according to bank statistics.
From the statistics of the BNB, it seems that there is a real boom in loans taken out by households for over BGN 1 million. At the end of June, their number reached 258, and on an annual basis they increased by 88, which means more than 50%.