First Investment Bank AD

Founded in 1993, First Investment Bank (Fibank) is the biggest bank with Bulgarian capital. Fibank is an innovative credit institution offering a broad range of products and services to both individual and corporate clients.

Services

Retail Banking
Private Banking
Corporate Banking

Products

Financials

Total Assets (2017)
8 642.56 mln BGN  (-2.37%)
Net Income (2017)
85.43 mln BGN  (-5.28%)

First Investment Bank AD is the 3rd largest bank in Bulgaria in terms of total assets. In 2017 its total assets were 8 642,56 mln BGN, providing the bank with the market share of 8.84%. In 2017 the bank's net income was 85,43 mln BGN.

First Investment Bank AD is rated by Fitch, Moody's. Long-term credit rating assigned to the bank by Fitch is B (highly speculative). Long-term credit rating assigned to the bank by Moody's is B1 (highly speculative).

First Investment Bank AD participates in deposit guarantee scheme of Bulgaria. This scheme covers accounts up to 100 000 EUR per bank per depositor.

First Investment Bank AD is a member of First Investment Bank (Bulgaria).

Contacts

37, Dragan Tsankov Blvd., 1797, Sofia, Bulgaria

First Investment Bank AD is headquartered in Sofia.

Bank Identifiers

BIC (SWIFT)
FINVBGSF
MFI ID
BGFINV9150

Business Summary

Services
retail banking
private banking
corporate banking
Products
current accounts
savings accounts (0.00 - 0.30 %)
time deposit accounts (0.55 - 1.20 %)
credit cards
debit cards
business cards
overdrafts
consumer loans
mortgage loans
business loans

First Investment Bank AD provides products and services in the areas of retail banking, private banking, corporate banking. The range of products offered by First Investment Bank AD includes current accounts, savings accounts (0.00 - 0.30 %), time deposit accounts (0.55 - 1.20 %), credit cards, debit cards, business cards, overdrafts, consumer loans, mortgage loans, business loans.

Products

Savings Accounts

Savings accounts are interest-bearing deposits accounts which allow to withdraw money at any time. While providing more flexibility, savings accounts usually offer lower interest rates and shorter deposit terms than time deposit accounts.

Savings accounts made with First Investment Bank AD are covered by deposit guarantee scheme of Bulgaria up to 100 000 EUR per depositor. First Investment Bank AD offers the following savings accounts.

Updated on 17 December 2018

Flexgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.00 %
Deposit Term (months)
1 - 6
Savings Account Details
Product Name
Flexgeld
Account Currency
EUR
Interest Rate (p.a.)
0.00 %
Deposit Term (months)
1 - 6
Investment Amount
10000 - 100000 EUR
Interest Frequency
1 times a year
Flexgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.30 %
Deposit Term (months)
7 - 49
Savings Account Details
Product Name
Flexgeld
Account Currency
EUR
Interest Rate (p.a.)
0.30 %
Deposit Term (months)
7 - 49
Investment Amount
10000 - 100000 EUR
Interest Frequency
1 times a year

Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

Time Deposit Accounts

Time deposits accounts are interest-bearing deposit accounts offering higher interest rates than savings accounts. However the money deposited to such account cannot be withdrawn for a specified period of time (term).

Time deposit accounts made with First Investment Bank AD are covered by deposit guarantee scheme of Bulgaria up to 100 000 EUR per depositor. First Investment Bank AD offers the following time deposit accounts.

Updated on 17 December 2018

Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.05 %
Deposit Term (months)
12
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.05 %
Deposit Term (months)
12
Investment Amount
10000 - 100000 EUR
Interest Frequency
1 times a year
Festgeld für Geschäftskunden
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.55 %
Deposit Term (months)
12
Time Deposit Account Details
Product Name
Festgeld für Geschäftskunden
Account Currency
EUR
Interest Rate (p.a.)
0.55 %
Deposit Term (months)
12
Investment Amount
5000 - 5000000 EUR
Interest Frequency
1 times a year
Festgeld für Geschäftskunden
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.65 %
Deposit Term (months)
24
Time Deposit Account Details
Product Name
Festgeld für Geschäftskunden
Account Currency
EUR
Interest Rate (p.a.)
0.65 %
Deposit Term (months)
24
Investment Amount
5000 - 5000000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
1.20 %
Deposit Term (months)
24
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
1.20 %
Deposit Term (months)
24
Investment Amount
10000 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.75 %
Deposit Term (months)
36
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.75 %
Deposit Term (months)
36
Investment Amount
10000 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.75 %
Deposit Term (months)
60
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.75 %
Deposit Term (months)
60
Investment Amount
10000 - 100000 EUR
Interest Frequency
1 times a year

Germany: This product is offered to German residents only. When clicking on the product link you will be redirected to the product page in German.

See Also

Financial Positions

Total Assets (2017)
8 642.56 mln BGN  (-2.37%)
Total Equity (2017)
929.25 mln BGN  (+10.39%)

In 2017 total assets of First Investment Bank AD were 8 642.56 mln BGN. Decline compared to the previous period (2016) was -2.37%. The evolution of the total assets of First Investment Bank AD is shown at Chart 1 below.

Total Assets of First Investment Bank AD.

Chart 1. Total Assets of First Investment Bank AD.

Recent changes in total assets of First Investment Bank AD and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 1 588.8 1 441.2 -9.29%
Loans 4 995.5 5 056.8 +1.23%
Total Assets 8 852.5 8 642.6 -2.37%
Table 1. Recent changes in total assets of First Investment Bank AD (mln BGN).

Recent changes in total liabilities of First Investment Bank AD and its main components are shown in Table 2.

2016 2017 % change
Deposits 7 977.1 7 671.4 -3.83%
Total Liabilities 8 852.5 8 642.6 -2.37%
Table 2. Recent changes in total liabilities of First Investment Bank AD (mln BGN).

Profit and Loss

Net Income (2017)
85.43 mln BGN  (-5.28%)

Recent changes in gross profit of First Investment Bank AD and its main components are shown in Table 3.

2016 2017 % change
Interest Income 426.3 340.2 -20.20%
Interest Charges -118.7 -92.6 -21.95%
Commission Income 107.4 116.7 +8.62%
Commission Charges -18.9 -17.8 -5.79%
Table 3. Recent changes in gross profit of First Investment Bank AD (mln BGN).

In 2017 net income of First Investment Bank AD was 85.43 mln BGN. Decline compared to the previous period (2016) was -5.28%. The evolution of the net income of First Investment Bank AD is shown at Chart 2 below.

Net Income of First Investment Bank AD.

Chart 2. Net Income of First Investment Bank AD.

Market Share and Rank (among banks in Bulgaria)

Total Assets (2017)
3rd (market share 8.84%)
Loans (2017)
4th (market share 8.47%)
Deposits (2017)
3rd (market share 9.11%)

In 2017 First Investment Bank AD was ranked the 3rd largest bank in Bulgaria in terms of total assets, having 8.84% of the domestic market share.

Market share of First Investment Bank AD (among banks in Bulgaria)

Chart 3. Market share of First Investment Bank AD (among banks in Bulgaria)

Several banks having the market shares and ranks closest to First Investment Bank AD are shown below.

RankNameTotal AssetsMarket Share
2DSK Bank EAD12150.12 mln BGN12.42%
3First Investment Bank AD8642.56 mln BGN8.84%
4Eurobank Bulgaria AD7421.47 mln BGN7.59%
 

Credit Ratings (as of May 2018)

Fitch Moody's
B (highly speculative) B1 (highly speculative)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. First Investment Bank AD is rated by Fitch and Moody's.

Credit ratings assigned to First Investment Bank AD as of May 2018 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for First Investment Bank AD it is set to B (highly speculative), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for First Investment Bank AD is set to B (speculative short-term credit quality).

Long-Term Issuer Default Rating  B
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  B
Viability Rating  b
Support Rating  5
Support Rating Floor  NF

Viability rating for First Investment Bank AD is set to b (highly speculative fundamental credit quality); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).

Moody's

Long-term rating for First Investment Bank AD it is set to B1 (highly speculative). Long-term bank deposit rating is B1 (highly speculative). Baseline credit assessment is b2. Short-term rating is not assigned.

Long-Term Rating  B1
Long-Term Bank Deposit Rating  B1
Baseline Credit Assessment  b2
Short-Term Rating  -
Outlook  stable

Outlook for the ratings of First Investment Bank AD is set to stable (not likely to change).

Deposit Guarantee

Deposit Guarantee
Yes (up to 100 000 EUR per depositor)

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All credit institutions operating in Bulgaria are obliged to participate in Bulgarian deposit guarantee scheme.

In the case of First Investment Bank AD failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Accounts  all funds on a bank account (term deposit, demand deposit, savings or current account, etc)
Covered Currencies  all
Maximum Protected Amount  100 000 EUR
Paid In Currency  BGN

Further Information

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of First Investment Bank AD and its components are shown in the table below.

BIC  FINVBGSF
Bank BIC Code  FINV
Country Code  BG (Bulgaria)
Location Code  SF
Branch Code  -

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of First Investment Bank AD is shown in the table below.

MFI ID  BGFINV9150