First Investment Bank (Fibank) recently reported steady growth for 2016 due to more efficient management of funds, according to a bank press release.
Bank representatives met recently with minority shareholders to report 2016’s figures.
The bank’s profit before taxes and other fees was $139 million. Last year, the bank built financial buffers and allocated provisions worth 155 million Bulgarian lev. Its profit after taxes is $49 million.
The bank also reported 2 percent asset growth, leading the bank to rank third in terms of asset size for the country. The top two banks are UniCredit Bulbank and DSK Bank, according to the press release.
Those attending the meeting discussed the option of finding a strategic partner for Fibank. Management will discuss the potential at its next meeting with shareholders, the release stated.
