August 6 (SeeNews) - Bulgaria's First Investment Bank (Fibank) [BUL:FIB] said that its non-consolidated net profit grew 21.5% to some 27.60 million levs ($16.7 million/14.1 million euro) in the first half of 2021 from 21.66 million levs in the same period of 2020.
Fibank's income from banking operations rose to 184.7 million levs in the first half of the year from 168.1 million levs in the same period of 2020, the lender said in an interim financial statement last week.
Net interest income improved to almost 120 million levs in the review period from 114.1 million levs the year before, while net fee and commission income increased to 52.5 million levs from 44.8 million levs a year earlier.
The bank cut its administrative expenses to 88.6 million levs in the January-June period of 2021 from 95.2 million levs last year, while its depreciation costs grew to 53.3 million levs from 35.3 million levs.
Loans to clients increased to 6.15 billion levs as at the end of June, 110 million levs more than at the end of 2020, while deposits from customers fell by 40 million levs year-on-year to 9.1 billion levs.
Fibank was Bulgaria’s fifth-largest lender by assets at the end of April, according to central bank data.
As at 14:30 CET, shares in Fibank traded 0.28% lower at 1.785 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)
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