Nikolay Cvetanov – Junior Partner at PMP commented for Bloomberg TV Bulgaria on the development of the credit market in Bulgaria and the report of the Bulgarian National Bank

Our colleague and head of the working group serving non-bank financial institutions has commented in an interview for Bloomberg TV Bulgaria in the TV show “Development” with Svilen Kolev on the development of this particular segment of the credit market in Bulgaria, as well as on the conclusions of the BNB in the Asset Quality Review (AQR) and Stress Test (ST) of the Bulgarian banking system which was announced earlier this month .

Nikolay Cvetanov, who is also Chairman of the Association for Responsible Non-bank Crediting (ARNC) which brings together the most active participants on this market, provided in-depth market information as a result of the investigation of ARNC.

According to Nikolay Cvetanov it is only now that the credit market is reaching the levels of 2011, however a tendency is observed for growth of the market as a whole, including also the micro crediting, whereas in fact the really active participants in the fast loans market are no more than 40.

The tendency for increase of the percentage of online crediting reported over the recent years is preserved also this year, whereas Nikolay Cvetanov expects the online segment to strengthen but the conventional crediting to probably also keep its considerable volume.