First Investment Bank (FIBank) posted 34.35 mln leva net profit for the first nine months of 2008, up by 140,000 leva compared to the year-ago period. The growth may be put down to the increase in the net revenue from fees and commissions by 13.49 mln to the 18.34 mln leva increase in net revenue from interest.

The total assets of the bank amounted to 4.23 bln leva as at September 30, 2008, up by 28 mln leva year on year. The decline in the assets prompted by the repayment of a 3-year 200 mln euro loan in the beginning of the year was offset by deposit growth and a new 65 mln euro loan obtained in June.

The balance sheet value of the credit portfolio of the bank stood at 2.91 bln leva as at September 30, 2008, compared to 2.78 bln leva as at December 31, 2007. The value of the assets has increased by 132 mln leva.

FIBank operated a total of 153 branches and offices in Bulgaria and abroad as at September 30, 2008.

Some of the main objectives of the bank in the fourth quarter of 2008 are to maintain high liquidity, capital adequacy and to manage its credit portfolio with higher risk requirements, provided the situation on the international financial markets.