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Bulgaria's Fibank Says Jan-Sept Net Profit Up 2.0% - Table

Oct 30, 2008, 2:05:45 PMArticle by Velizar Velikov
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SOFIA (Bulgaria), October 30 (SeeNews) – Bulgarian blue-chip First Investment Bank (FIBank) on Thursday said its net profit for the nine-months through September rose 2.0% to 35 million levs ($23.4 million/17.9 million euro) backed by an 18% rise in net interest income.

Bulgaria's Fibank Says Jan-Sept Net Profit Up 2.0% - Table

Following are details from FIBank's financial report sent to the Bulgarian Stock Exchange’s information service X3 News (in millions of levs):

9-mo'08 9-mo'07
NET PROFIT 35.030 34.346
PRE-TAX PROFIT 39.160 38.204
NET INTEREST INCOME 113.261 96.099

The bank’s credit portfolio totalled 2.89 billion levs at the end of September, up 4.4% from the end of 2007 as total assets remained almost flat at 4.2 billion levs.
Total deposits shrank by nearly 6.0% to 3.09 billion levs at the end of January, compared to the end of last year.

The bank's 2007 net profit surged 75.4% to 50.4 million levs and its credit portfolio rose 62% to 2.768 billion levs.

FIBank ( www.fibank.bg ), the largest domestically owned bank, has subsidiary banks in Macedonia and Albania. It was the seven-largest bank by assets in Bulgaria at the end of September.

Shares in the bank ended 0.45% higher at 3.78 levs in a volume of some 11,000 stocks on Thursday.

(1 euro = 1.95583 Bulgarian levs)

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