First Investment Bank's January – September profit surged 275% to 34.35 mln leva (17.562 mln euros), or 0.312 leva per share, versus 9.17 mln leva (4.668 mln euros) a year ago, BSE reports.

The administrative costs/revenue from bank operations ratio fell to 51.69% for the period, compared with 60.69% a year ago.

The bank's assets rose 17.46% (551 mln leva ) to 3.7 bln leva (1.891 bln euros).

FIB's credit portfolio grew 57.13% to 2.686 bln leva (1.373 bln euros), compared with 1.709 bln leva (873.797 mln euros) on December 2006. The bank's capital adequacy coefficient stands at 12.81%.

Revenues from interest rates rose 37% to 193.8 mln leva (99.088 mln euros), and revenue from fees and commissions surged 31% to 41.4 mln leva (21.167 mln euros).

This year the bank has opened 20 new branches and offices in Bulgaria and abroad, making them 124 in total.

In May FIB filed the biggest IPO in Bulgaria, generating 107 mln leva (54.708 mln euros).

The stock dropped 0.96% to 12.44 leva today, at a turnover of more than 55,000 shares.