Fibank has repaid BGN 775 million of the liquidity support

According to information published earlier today by the Ministry of Finance of the Republic of Bulgaria, Fibank (First Investment Bank) has already repaid BGN 775 million, including BGN 25 million interest, of the BGN 1.2 billion liquidity support received in June 2014. The remaining amount of BGN 450 million is due for repayment by the end of May 2016, according to the Plan approved by the European Commission.

We would like to note that back in 2014, according to the approved Plan, Fibank committed to the European Commission (EC) to further improve its corporate governance and risk management.

In June 2015, a new independent member of the Supervisory Board of Fibank was elected in the person of Mr. Jyrki Koskelo who has more than 20 years experience with the International Finance Corporation (IFC) of the World Bank. His appointment was aimed at achieving greater independence and transparency, in line with the established international practices of the European Commission and the IFC.

At the end of November this year, the Bank also presented to the public its new organizational structure which meets all the requirements of the European Commission and reflects the recommendations of the International Finance Corporation (IFC) of the World Bank, a longtime partner of Fibank.

Fibank (First Investment Bank) is the third largest bank in Bulgaria in terms of assets, after UniCredit Bulbank and DSK Bank, also ranking third in deposits from individuals and households. The Bank ranks second in terms of business loans in the country, after UniCredit Bulbank.