Investbank Is Expecting Assets to Reach 1 billion till March 2008

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“CB Investbank’s assets will reach 1 billion Leva till March 2008”, Vladimir Vladimirov, Executive Director and chairman of the bank’s Board of Directors told profit.bg.

Towards the end of 2004 the bank’s assets amounted to 120 mln leva and a year later they stood at 320 mln leva. Towards 31 December assets reached 530 mln leva and according to data for the first quarter of 2007 they amount to 700 mln leva.

According to Vladimirov the bank expects a profit of 10 mln leva this year. “We have announced a profit of 3.5 mln leva just for the year’s first quarter while for the entire 2006 the profit was 2.0 mln leva and for 2005 - 1 mln leva “ he added.

“The sole purpose of Investbank’s listing on BSE is to determine the bank’s real market capitalization. At the forthcoming General Meeting of Shareholders we intend to increase our capital to 60 mln leva and around 10 % of it will be offered for trade on BSE,” Vladimirov also said.

The bank’s listing is expected to happen sometime in September or October 2007. So far the bank has 120 branches. Festa Holding controls 86.84% of the its capital and Vinkom holds 11.83%.

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