FIMBANK plc

FIMBank (before 2003 - First International Merchant Bank) started operations in 1995; in 2001 its shares were listed on the Malta Stock Exchange. FIMBank plc is headquartered in St. Julian’s is a member of one of the biggest diversified holding companies in the Middle East, the KIPCO Group. FIMBank specializes in provider trade finance, factoring and forfaiting solutions, with a global presence in various important financial and trading centres.

Services

Retail Banking
Corporate Banking

Products

Financials

Total Assets (2017)
1 393.44 mln USD  (-8.99%)
Net Income (2017)
115 818.00 USD  (-65.97%)
Number of Employees (2015)
387  (+17.63%)

In 2017 total assets of FIMBANK plc were 1 393,44 mln USD. In 2017 the bank's net income was 115 818,00 USD. FIMBANK plc had 387 employees in 2015.

FIMBANK plc is rated by Fitch. Long-term credit rating assigned to the bank by Fitch is BB (speculative).

FIMBANK plc participates in deposit guarantee scheme of Malta. This scheme covers accounts up to 100 000 EUR per bank per depositor.

Member of Group

 KIPCO Group (Kuwait)

FIMBANK plc is a member of KIPCO Group (Kuwait).

Contacts

Mercury Tower, The Exchange Financial & Business Centre, Elia Zammit Street, St. Julians STJ 3155, STJ 3155, St. Julians, Malta
0035621322100
0035621322122

FIMBANK plc is headquartered in St. Julians.

Bank Identifiers

BIC (SWIFT)
FIMBMTM3XXX
MFI ID
MTCIFIMB

Business Summary

Services
retail banking
corporate banking
Products
savings accounts (0.50 - 0.50 %)
time deposit accounts (0.45 - 0.80 %)
credit cards
trade finance
factoring
forfaiting

FIMBANK plc provides products and services in the areas of retail banking, corporate banking. The range of products offered by FIMBANK plc includes savings accounts (0.50 - 0.50 %), time deposit accounts (0.45 - 0.80 %), credit cards, trade finance, factoring, forfaiting.

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 FIMBANK plc are covered by deposit guarantee scheme of Malta up to 100 000 EUR per depositor. FIMBANK plc offers the following savings accounts.

Updated on 17 December 2018

Tagesgeld/Flexgeld24
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.50 %
Deposit Term (months)
1 - 99
Savings Account Details
Product Name
Tagesgeld/Flexgeld24
Account Currency
EUR
Interest Rate (p.a.)
0.50 %
Deposit Term (months)
1 - 99
Investment Amount
1 - 100000 EUR
Interest Frequency
12 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

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 FIMBANK plc are covered by deposit guarantee scheme of Malta up to 100 000 EUR per depositor. FIMBANK plc offers the following time deposit accounts.

Updated on 17 December 2018

Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.80 %
Deposit Term (months)
3
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.80 %
Deposit Term (months)
3
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.45 %
Deposit Term (months)
6
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.45 %
Deposit Term (months)
6
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.45 %
Deposit Term (months)
12 - 24
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.45 %
Deposit Term (months)
12 - 24
Investment Amount
1 - 100000 EUR
Interest Frequency
1 times a year
Festgeld
Sales Region
Germany
Account Currency
EUR
Interest Rate (p.a.)
0.45 %
Deposit Term (months)
36
Time Deposit Account Details
Product Name
Festgeld
Account Currency
EUR
Interest Rate (p.a.)
0.45 %
Deposit Term (months)
36
Investment Amount
1 - 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)
1 393.44 mln USD  (-8.99%)
Total Equity (2017)
125.04 mln USD  (+1.78%)

In 2017 total assets of FIMBANK plc were 1 393.44 mln USD. Decline compared to the previous period (2016) was -8.99%. The evolution of the total assets of FIMBANK plc is shown at Chart 1 below.

Total Assets of FIMBANK plc.

Chart 1. Total Assets of FIMBANK plc.

Recent changes in total assets of FIMBANK plc and its main components are shown in Table 1.

2016 2017 % change
Cash and deposits with Central Banks 33.2 208.1 +527.60%
Financial assets at fair value through profit or loss 17.8 0.0 -100.00%
Investments 413.4 355.3 -14.05%
Loans to banks 438.8 203.6 -53.61%
Loans to customers 589.6 581.5 -1.37%
Total Assets 1 531.2 1 393.4 -8.99%
Table 1. Recent changes in total assets of FIMBANK plc (mln USD).

Recent changes in total liabilities of FIMBANK plc and its main components are shown in Table 2.

2016 2017 % change
Amount owed to banks 426.1 393.2 -7.72%
Amount owed to customers 915.4 815.8 -10.88%
Total Liabilities 1 531.2 1 393.4 -8.99%
Table 2. Recent changes in total liabilities of FIMBANK plc (mln USD).

Profit and Loss

Operating Income (2017)
25.88 mln USD  (+17.68%)
Annual Profit (2016)
5.00 mln EUR
Net Income (2017)
115 818.00 USD  (-65.97%)

Recent changes in gross profit of FIMBANK plc and its main components are shown in Table 3.

2016 2017 % change
Interest Income 24.7 28.3 +14.84%
Interest Charges -16.5 -17.7 +7.23%
Net Interest Income 8.1 10.6 +30.33%
Commission Income 10.0 11.0 +10.24%
Commission Charges -2.0 -2.5 +23.55%
Net Commission Income 8.0 8.6 +6.91%
Table 3. Recent changes in gross profit of FIMBANK plc (mln USD).

In 2016 annual profit of FIMBANK plc was 5.00 mln EUR. Decline compared to the previous period (2015) was -183.33%. The evolution of the annual profit of FIMBANK plc is shown at Chart 2 below.

Annual Profit of FIMBANK plc.

Chart 2. Annual Profit of FIMBANK plc.

In 2017 net income of FIMBANK plc was 115 818.00 USD. Decline compared to the previous period (2016) was -65.97%. The evolution of the net income of FIMBANK plc is shown at Chart 3 below.

Net Income of FIMBANK plc.

Chart 3. Net Income of FIMBANK plc.

Number of Employees

Number of Employees (2015)
387  (+17.63%)

In 2015 there were 387 employees of FIMBANK plc. Growth compared to the previous period (2014) was 17.63%. The evolution of the number of employees of FIMBANK plc is shown at Chart 4 below.

Number of Employees of FIMBANK plc.

Chart 4. Number of Employees of FIMBANK plc.

Market Share and Rank (among banks in Malta)

Total Assets (2016)
4th (market share 5.88%)

In 2016 FIMBANK plc was ranked the 4th largest bank in Malta in terms of total assets, having 5.88% of the domestic market share.

Market share of FIMBANK plc (among banks in Malta)

Chart 5. Market share of FIMBANK plc (among banks in Malta)

Several banks having the market shares and ranks closest to FIMBANK plc are shown below.

RankNameTotal AssetsMarket Share
3MEDIRECT BANK (MALTA) PLC1811.91 mln EUR6.96%
4FIMBANK plc1531.15 mln USD5.88%
5APS Bank Limited1285.00 mln EUR4.94%
 

Credit Ratings (as of May 2018)

Fitch Moody's
BB (speculative) - (not rated)

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government. FIMBANK plc is rated by Fitch.

Credit ratings assigned to FIMBANK plc 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 FIMBANK plc it is set to BB (speculative), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for FIMBANK plc is set to B (speculative short-term credit quality).

Long-Term Issuer Default Rating  BB
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  B
Viability Rating  bb-
Support Rating  3
Support Rating Floor  WD

Viability rating for FIMBANK plc is set to bb- (speculative fundamental credit quality); support rating is 3 (moderate probability of support); support rating floor is WD (withdrawn).

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 Malta are obliged to participate in Maltese deposit guarantee scheme.

In the case of FIMBANK plc failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Covered Accounts  most types of deposit are covered, including current, deposit and savings accounts
Maximum Protected Amount  100 000 EUR
Paid In Currency  in the same currency as the deposit

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 FIMBANK plc and its components are shown in the table below.

BIC  FIMBMTM3XXX
Bank BIC Code  FIMB
Country Code  MT (Malta)
Location Code  M3
Branch Code  XXX

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 FIMBANK plc is shown in the table below.

MFI ID  MTCIFIMB

Domestic Presence

Branches (2015)

In 2015 FIMBANK plc had 1 branches in Malta. The value didn't change compared to the previous period (2014).

European Presence: 2 banks in 2 countries

FIMBANK plc operates under the brand name FIM Bank. This banking brand has presence in the following European countries and selected dependent territories of the European countries:

Greece

Malta

  • (this bank) FIMBANK plc (St. Julians)