Fibank First Investment Bank has finally won the lawsuit in Romania with the Romanian Agency for Payments and Intervention for Agriculture (APIA), according to a decision of the Romanian court dated February 4, 2022.
On April 5, 2019, we informed the public about winning the case in the court of first instance. The court of appeal has now upheld the ruling, rejecting all claims of APIA against the Bank. Its decision is final and not subject to further appeal.
As early as 2013, First Investment Bank alerted the Bulgarian, Romanian and European institutions to the suspicious circumstances related to the public procurement organized by APIA and its implementation. Following the alert by the bank, in the same year the National Anti-Corruption Agency to the Prosecutor's Office of the Republic of Romania informed the public by a press release that the director general of the agency, his deputy and other APIA employees had been arrested for irregularities in public procurement.
First Investment Bank adheres to the highest standards and applies the best practices in carrying out its activities. The Bank has always acted in the interest of its clients, investors and partners and will continue to take the necessary actions for its own and their protection.