reports
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 18.09.2020
The huge daily price fluctuations of SOFIX 429.60 (-0.05%) members did not change the index on Thursday. Industrial Holding Bulgaria (4ID, BGN 0.80, +5.26%), Monbat (5MB, BGN 3.36, +3.7%) and Elana Agrocredit (0EA, BGN 1.00, +2.04%) fully offset the drop of First Investment Bank (5F4, BGN 1.94, -3%), Albena (6AB, BGN 22.00, -2.65%) and Holding Varna (5V2, BGN 37.80, -2.58%). Overall liquidity slightly increased but block trades prevailed regular trading.
- Nadejda Dafinkicheva
Banking System Overview H1'20
PROFITABILITY OF THE SYSTEM DETERIORATES; THE MORATORIUM KEEPS NPE’S UNDER CONTROLPROFITABILITY OF THE SYSTEM DETERIORATES; THE MORATORIUM KEEPS NPE’S UNDER CONTROL  H1’20 net income of the banking sector was down 43.9% YoY to BGN 515.2m due to lower net interest income, lower F&C income, net FX losses and surge of credit provisions. 12-m trailing ROE of the system shrank to 8.8% vs 11.8% at end-2019.  The growth of gross loans slowed down to 6.1% YoY (+BGN 3.8bn) as the corporate segmen...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 01.09.2020
Positive start of the week on the back of moderate daily turnover raised SOFIX by 0.39% to 434.21. Advance Terrafund (6A6, BGN 1.76, +1.15%), Doverie United Holding (5DOV, BGN 3.30, +1.54%) and Elana Agcrocredit (0EA, BGN 1.00 ,+1.01%) jumped without significant volume while daily losers Chimimport (6C4, BGN 0.96, -4%), M+S Hydraulic (5MH, BGN 5.30, -2.75%) and Real Estate Fund Bulgaria (5BU, BGN 1.76, -1.12%) suffered from selling pressure and registered larger daily turnover. The only local in...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 28.07.2020
The local indexes remained virtually flat for a second consecutive session, where SOFIX slipped by 0.7% to 439.88 points. The daily turnover within the main index remained low as 1/3 of its members were not traded throughout the session. The decline was mostly on the two heaviest members Sopharma (3JR, BGN 2.98, -0.67%) and Advance Terrafund (6A6, BGN 1.81, -1.09%) losing ground on low-volume trades, while the only notable increase was by Doverie United Holding (5DOV, BGN 3.14, +2.28%), which bo...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 25.06.2020
The big fluctuations did not change SOFIX on Wednesday and the index finished at 455.24 (+0.03%). Albena (6AB, BGN 29.00, -1.36%), First Investment Bank (5F4, BGN 2.62, -1.5%), Monbat (5MB, BGN 3.18, -1.24%) and Central Cooperative Bank (4CF, BGN 1.04, -0.95%) stepped back but the positive moves of Advance Terrafund (6A6, BGN 1.88, +1.62%) and Elana Agrocredit (0EA, BGN 1.01, +1%) fully offset the impact on the main index. Overall liquidity remained poor and far below the 3mAVG.
FFBH Daily Bulletin - 21.05.2020
The local indexes slipped with insignificant daily turnover on Wednesday, where SOFIX shrank by 0.42% to 449.45 points. The decline of the main index was mostly on Doverie United Holding (5DOV, BGN 3.46, -3.62%) and Elana Agrocredit (0EA, BGN 1.05, -2.78%), while there were not significant moves on the positive side. The most liquid member was Elana Agrocredit, which booked a few larger trades, followed by Stara Planina Hold (5SR, BGN 5.00, +0.40%) and Doverie United Holding, both of which booke...
FFBH Daily Bulletin - 19.05.2020
A quiet start of the week on BSE as all local indexes ended flat with volumes lower the 3-months average. The financial sector, represented by Central Cooperative Bank (4CF, BGN 1.05, -2.78%) and First Investment Bank (5F4, BGN 2.56, -0.78%), weighed the most on SOFIX (449.75, -0.08%). BGBX40 (95.66, +0.07%) and BGTR30 (465.33, +0.09%) took advantage from the jumps of Speedy (0SP, BGN 53.00, +2.91%), Alcomet (6AM, BGN 5.45, +2.83%) and Zarneni Hrani (T43, BGN 0.163, +8.67%). The opposite moves o...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 02.03.2020
All local indexes jumped with substantial daily turnover on Friday. SOFIX added 0.28% to 550.25 points, where there was abnormal trading intensity and substantial price swings. The top gainer among the members was Doverie United Holding (5DOV, BGN 6.30, +15.60%), which booked decent volume after disclosing positive financial results, while the top decline was by Sirma Group Holding (SKK, BGN 0.48, -10.28%), which dropped on thin bid side and poor liquidity. The most traded member was Albena (6AB...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 12.02.2020
The benchmark index SOFIX added 0.04% to 570.67 points, while all other local indexes slipped on Tuesday. The increase of the main index was mostly because its heaviest members Sopharma (3JR, BGN 3.45, +1.17%) and Chimimport (6C4, BGN 1.60, +1.27%) increased slightly on a few small trades, which offset the declines of Albena (6AB, BGN 40.20, -2.43%) and Bulgarian Real Estate Fund (5BU, BGN 2.06, -2.83%). There was substantial traded volume with Eurohold Bulgaria (4EH, BGN 1.49, -0.67%), where ov...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 03.02.2020
The local indexes advanced slightly on Friday with substantial daily turnover. SOFIX added 0.28% to 575.87 points, with top gainer among its members being Holding Varna (5V2, BGN 40.00, +3.63%), while the other companies remained virtually flat. The most traded among the constituents was Elana Agrocredit REIT (0EA, BGN 1.13, 0.00%), after 100k shares changed hands in 3 consequent trades in the afternoon at the close level. Next most traded members were Sopharma (3JR, BGN 3.50, +1.45%) and Doveri...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 20.12.2019
The local indexes advanced on Thursday with regular daily turnover. SOFIX added 1.31% to 555.23 points, with the increase being mostly on Eurohold Bulgaria (4EH, BGN 1.70, +16.44%), which jumped significantly on a few low-volume trades. Doverie Untied Holding (5DOV, BGN 3.82, +8.52%) also increased on multiple small trades, while there were no notable declines. The most traded was Industrial Holding Bulgaria (4ID, BGN 1.01, +1.00%), which booked a single block trade for 200k shares, followed by ...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 18.12.2019
All indexes slipped on Tuesday with regular daily turnover. The benchmark index SOFIX shrank by 0.83% to 541.34 points, with the decline being mostly on Eurohold Bulgaria (4EH, BGN 1.36, -6.85%), which booked multiple various in size trades in the afternoon. Central Cooperative Bank (4CF, BGN 1.48, -2.32%) marked a notable decline too, while there were no significant moves on the positive side. The most traded constituent was Gradus (GR6, BGN 1.67, 0.00%), as 345k shares changed hands in a block...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 13.12.2019
The local indexes advanced slightly on Thursday with substantial daily turnover. SOFIX added 0.1% to 543.50 points, where the top gainer among its constituents was Sirma Group Holding (SKK, BGN 0.63, +3.28%), which booked decent volume of almost 3x the average for the last 3 months. The top loser was Doverie United Holding (5DOV, BGN 3.12, -2.50%), which lost ground on several low-volume trades. The most traded constituent was Gradus (GR6, BGN 1.67, 0.00%), after almost 750k shares changed hands...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 05.12.2019
Most of the indexes on BSE-Sofia finished on green territory on Wednesday supported by Doverie (5DOV, BGN 3.00, +3.45%), Stara Planina (5SR, BGN 4.90, +2.08%) and Trace Group (T57, BGN 3.84, 9.71%). SOFIX (543.56, -0.12%) alone was coloured in red as the top loser of the day - Holding Varna (5V2, BGN 37.80, -5.03%), dragged the benchmark index down on the ground of a single trade. Volumes remained low compared to the average ones for the last 3-months as the exception came from a block trade wit...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 15.11.2019
The Bulgarian indexes slipped slightly with very low daily turnover. Only SOFIX finished the session on green territory, but it barely added 0.01% to 558.80 points. The top gainer among the members of the benchmark index was Doverie United Holding (5DOV, BGN 2.96, +2.07%), which increased on a few small trades, while there were no other significant price changes among the other members. The most liquid constituent was Advance Terrafund (6A6, BGN 1.92, +0.26%) after multiple various in size trade...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 11.11.2019
The local indexes closed in opposite directions on Friday with substantial traded volume and turnover. SOFIX advanced by 0.31% to 560.59 points, with the increase being mostly on small speculative trades with Doverie United Holding (5DOV, BGN 3.08, +3.36%) and First Investment Bank (5F4, BGN 3.00, +2.74%). There were no significant price changes among the other members while the most traded name within the index was Eurohold Bulgaria (4EH, BGN 1.68, -1.18%) after a 59.2k shares block trade in th...
- Nadejda Dafinkicheva
FFBH Daily Bulletin - 16.09.2019
Slim volume and wide bid/ask spreads fixed SOFIX at 578.65 (+0.11%). Selling pressure on Albena (6AB, BGN 41.80, -2.79%) and Sirma Group (SKK, BGN 0.715, -1.38%) weighed on the main index, but moderate increase of Doverie (5DOV, BGN 3.38, +1.2%) and Industrial Holding Bulgaria (4ID, BGN 1.05, +0.96%) offset the negative impact. Absence of news keeps institutional investors away from trading and the daily volume remained below the average one YTD.
- Veselin Radoychev Please Change Surname
Bulgarian Banking System Overview H1 2019
H1’19 PROFITABILITY HITS NEW HIGH; AQR CONFIRMED THAT ALL 6 TESTED BANKS MEET THE PRUDENTIAL REQUIREMENTS H1’19 set a new record high profitability of the banking sector with ttm ROE of 13.5%, the highest over the last 10 years period. Net income surged by 14.6% YoY to BGN 918m on the back of 6.8% (+BGN 136m) growth of operating income as well as 11.8% (-BGN 24m) decline of credit provisions. Net interest income added 2.4% YoY (+BGN 33m) on both increase of interest income and decline of ...
- Ivo Kolarov
FFBH Daily Bulletin - 06.08.2019
Most local indexes increased on Monday with low daily turnover and traded volume. SOFIX added 0.23% to 581.39 points, as only 3 of its members finished the session on the negative side. The top mover among the constituents was Sirma Group Holding (SKK, BGN 0.70, +2.17%), which increased on small speculative trades, while there were no other noteworthy price deviations. There was some traded volume with Stara Planina Hold (5SR, BGN 5.55, +0.91%), as 1.8k shares changed hands over the day, which i...
- Ivo Kolarov
FFBH Daily Bulletin - 19.06.2019
Tuesday trading session brought some slight positive moves for the major indexes on Bulgarian Stock Exchange as SOFIX (578.05) added 0.15% on the ground of lower volumes and poor investment interest. A block trade with Industrial Holding Bulgaria (4ID, + 1.00%) fixed the closing price at BGN 1.01, while the retail optimism on Doverie United Holding (5DOV) pushed the price up to BGN 3.06 with small trades. Sopharma (3JR, BGN 3.39, -0.59%) and Central Cooperative Bank (4CF, BGN 1.51, -0.33%) finis...
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