Credit millionaires doubled in numbers16 February 2008 | 01:11 | FOCUS News Agency Sofia. The number of Bulgarians that can afford bank loans exceeding BGN 1 million has been on the rise recently. And what is important here is that we’re not talking about corporate borrowers, but physical persons. Just imagine what should be your monthly income so that you can service your payments accompanying a debt of this scale? According to prompt calculations a BGN 1 million loan will be gnawing on your pocket the average BGN 4, 500 – BGN 5, 000 a month. We should also take into account the fact that borrowers are 35-year old at the most (as specified in the banks’ requirements), which makes it even stranger. Now add to this the recent BNB reports of 78 such loans extended to citizens back in 2007 and as they total somewhere above BGN 1 billion, it comes out the average amounts borrowed measured up to BGN 1.94 million. In late 2006 there’d been 35 loans of BGN 1 million and above, totaling nearly BGN 41.18 million against lending levels in 2007 – 78 debts of this scale and total sum of BGN 151.19 million extended. |