Fibank This year’s regular meeting of the management of Fibank (First Investment Bank) with the minority shareholders of the bank was held on November 11, 2016.
The regular meetings are part of the bank's policy for the application of international standards for good corporate governance, established by the International Finance Corporation (IFC) which Fibank has strictly followed in all of its activities.
The meeting was attended by Mr. Vasil Hristov, Chief Executive Officer (CEO) of the bank, Mr. Dimitar Kostov - Chief Risk Officer (CRO) and Mr. Zhivko Todorov, Chief Financial Officer (CFO). At the meeting the management of Fibank informed the minority shareholders of the current financial performance of the bank and the results registered by the end of September 2016.
Since the beginning of the current year Fibank has set aside provisions amounting to BGN 140 million. These funds are used by the institution to accumulate stable bank capital surpluses. Fibank has reported a steady growth in profit before taxation reaching an estimated BGN 61.3 million and an operational profit of BGN 201 million.
The capital adequacy of the Bank, as of September 30, 2016, is 15.35%, which is an indication of an equity excess of 13.5 percent above the legally set levels.