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Bulgaria's Fibank cuts Q1 non-cons net profit, banking income

Author Mario Tanev
Bulgaria's Fibank cuts Q1 non-cons net profit, banking income Author: First Investment Bank Licence: All Rights Reserved

SOFIA (Bulgaria), May 2 (SeeNews) - Bulgaria's First Investment Bank (Fibank) [BUL:5F4] said that its non-consolidated net profit fell to 15.9 million levs ($9.1 million/8.1 million euro) in the first quarter of the year from 22.1 million levs in the same period of 2018.

Fibank's net interest income fell to 59.3 million levs in the January-March period from 61.9 million levs in the comparable period of last year, the lender said in an interim financial statement on Tuesday.

The bank's net fee and commission income edged up to 22.8 million levs in the review period from 22.4 million levs the year before.

Fibank's administrative expenses grew to 51.9 million levs in the first three months of the year from 47.4 million levs in the like period of 2018.

The company's capital adequacy ratio worsened slightly to 15.62% at the end of March 2019 compared to 15.85% at the end of March 2018. Fibank's liquidity coverage ratio at the end of March stood at 226.06%.

The lender's assets rose to 9.32 billion levs at the end of March from 9.24 billion levs a year earlier.

Fibank was Bulgaria's fourth largest lender by assets at the end of March, according to central bank data.

The bank had 154 branches and offices in the country at the end of March, one more compared to a year earlier.

(1 euro = 1.95583 levs)

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