August 1 (SeeNews) - First Investment Bank (Fibank) [BUL:5F4], Bulgaria’s third largest lender by assets, said on Monday its first-half net profit soared to 93.6 million levs ($53.5 million/47.8 million euro) from 7.1 million levs in the same period of 2015 on higher revenues and lower impairments.
The bank's net interest income rose 30.3% to 162.2 million levs in January-June, whereas net fee and commission income climbed 12.1% to 40.5 million levs, it said in its interim non-consolidated statement filed with the Bulgarian Stock Exchange.
Total revenues from banking operations rose 39.2% to 241 million levs. At the same time, administrative costs edged up 1.7% to 89.5 million levs and impairments dropped 35.6% to 42.6 million levs.
The bank’s total assets narrowed by 1.7% during the first six months of the year to 8.5 billion levs at end-June. Its lending portfolio edged down 0.3% during the period to 5.1 billion levs, while client deposits rose 4.6% to 7.3 billion levs.
Fibank shares rose 1.3% to 2.40 levs by 11:30 local time on the Sofia bourse.
(1 euro=1.95583 levs)