CB First Investment Bank issued the following announcement on June 19.
On June 19, 2019 in Sofia Hotel Balkan was held a regular general meeting of the shareholders of Fibank (First Investment Bank).
The meeting was attended by Mr. Nedelcho Nedelchev - CEO of the bank and the executive directors: Mr. Svetozar Popov, Mrs. Sevdalina Vassileva, Mr. Chavdar Zlatev and Mr. Zhivko Todorov - Chief Financial Officer (CFO ).
The management of Fibank presented to the present shareholders a report on the activity and the financial results of the bank for 2018. Fibank's assets reached BGN 9.587 billion at the end of 2018, rising by BGN 666 million or 7.46%. The main contributions to asset growth during the year include loans and advances. Loans granted by the bank to companies increased by 11% in the past year. In 2018, loans to small and medium-sized enterprises increased by 16.7%. The gross portfolio of loans to individuals increased by 12%. For mortgages, the growth rate was 18.3% for the past year, while consumer credit rose by 19.9%. At the same time, the bank remains one of the most popular savings populations. Return on capital (after taxes) is 19.24%.
Net profit for the year 2018 increased by 85.9% reaching BGN 171.5 million. The shareholders of the bank voted not to pay it as a dividend nor to make other deductions from the bank's profit for inclusion in the Common Equity Tier 1 capital.
Original source can be found here.