August 3 (SeeNews) - Bulgaria's First Investment Bank, or Fibank, [BUL:FIB] said that its standalone attributable profit grew to some 30.76 million levs ($16 million/15.7 million euro) in the first half of 2022 from 27.60 million levs in the same period of 2021, on the back of higher revenue from banking operations.
Fibank's income from banking operations rose to roughly 209 million levs in the January-June period from 184.7 million levs a year earlier, the lender said in an interim financial statement last week.
Net interest income increased to 127.6 million levs in the review period from 120 million levs the year before due to lower interest rates, while net fee and commission income jumped 24.4% to 65.3 million levs.
The bank's administrative expenses grew to 97.5 million levs in the first half of 2022 from 88.6 million levs in the January-June period of 2021.
Loans to clients declined by 92 million levs on the year, reaching 6.22 billion levs at the end of June, while deposits from customers rose by 500 million levs to 9.9 billion levs.
Fibank's Common Equity Tier 1 (CET1) ratio, a measure of a lender's financial strength, stood at 22.28% at the end of the first half of 2022.
Fibank was Bulgaria’s fifth-largest lender by assets at the end of June, according to most recent central bank data.
As at 1301 CEST on Wednesday shares in Fibank traded flat at 1.87 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)
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