Fibank Fibank (First Investment Bank) held its regular General Meeting of Shareholders on 21 June 2018, at Sofia Hotel Balkan.
The meeting was attended by: Mr. Nedelcho Nedelchev, Chief Executive Officer (CEO) of the bank, Mr. Svetozar Popov, Chief Risk Officer (CRO), Ms. Sevdalina Vassileva, Chief Retail Banking Officer (CRBO), Mr. Chavdar Zlatev, Chief Corporate Banking Officer (CCBO) and Mr. Jivko Todorov, Chief Financial Officer (CFO).
The management of Fibank presented to the attending shareholders the activity report and the financial results of the bank for 2017.
The total assets of First Investment Bank amounted to BGN 8.9 billion. In 2017, the net fee and commission income increased by 10.8% compared to previous year, while the net trading income grew by 10%.
Fibank enhanced its market positions in retail banking and SME lending, increasing their relative weights in the loan portfolio. The equity of the bank also increased by 10.6%. Common Equity Tier 1 (CET1) retained its growth rate and reached 12.87%. Growth was also reported in the Tier 1 capital - up to 15.87%, and in the total capital base up to 15.89%.
The shareholders voted that the entire net profit of BGN 92 million for 2017 is retained, which will further increase the Bank's capital position and provide a basis for further growth. By this decision, capital ratios are expected to exceed 13.5% for CET1, and 16.5% for the total capital base on a consolidated basis.
The General Meeting of Shareholders of the Bank appointed BDO Bulgaria OOD and Mazars OOD as auditing companies for 2018.
Ms. Ralitsa Bogoeva, former Director of Internal Audit at the bank, took the position of Chief IT and Operations Officer. The new of Director of Internal Audit will be Mr. Plamen Dimitrov, who has over 15 years of professional experience in the field.