FIRST INVESTMENT BANK AD To:
Financial Supervision Commission
Investment Activity Supervision Department
16 Budapest Str.
Sofia
Cc:
Bulgarian Stock Exchange - Sofia AD
6 Tri Ushi Str.
Sofia
Re: Individual (unaudited) financial statements of First Investment Bank AD as at 30 June 2023 г.
Dear Sirs,
In compliance with the requirements of the Public Offering of Securities Act (POSA) and the regulations for its implementation, in our capacity as public company and issuer of bonds admitted for trading at a regulated market, we hereby submit the individual (unaudited) financial statements of First Investment Bank AD as at 30 June 2023, containing:
- Financial statements as at 30.06.2023 as per Art. 100о, para. 4(1) of POSA;
- Notes to the financial statements as at 30.06.2023;
- Interim activity report under Art. 100о, para. 4(2) of POSA;
- Declaration under Art. 100о, para. 4(3) of POSA.
- Information pursuant to Ordinance No 2 of the Financial Supervision Commission on the prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market and on disclosure of information.
Sincerely, | |
(signed) | (signed) |
Nikola Bakalov | Ralitsa Bogoeva |
Chief Executive Officer | Executive Director |
Chairman of the MB | Member of the MB |
FIRST INVESTMENT BANK AD
Individual statement of cash flows for the six months ended 30 June 2023 unaudited
Net cash flow from operating activities Net profit
Adjustment for non-cash items Allowance for impairment Net interest income Depreciation and amortization Tax expense
Loss/(profit) from sale and write-off of tangible and intangible fixed assets, net (Profit)/loss from sale and write-of of other assets, net
(Positive) revaluation of investment property
Change in operating assets
(Increase) in financial assets at fair value through profit or loss (Increase)/decrease in financial assets at fair value in other comprehensive income Decrease in loans and advances to banks and financial institutions
(Increase) in loans to customers
(Increase) in other assets
Change in operating liabilities (Decrease) in deposits from banks Increase in amounts owed to other depositors Net increase in other liabilities
Interest received
Interest paid
Dividends received
Tax on profit, paid
NET CASH FLOW FROM OPERATING ACTIVITIES
Cash flow from investing activities
(Purchase) of tangible and intangible fixed assets Sale of tangible and intangible fixed assets Sale of other assets
(Increase) of investments
NET CASH FLOW FROM INVESTING ACTIVITIES
Financing activities
Increase/(decrease) in borrowings
Increase in subordinated liabilities
Capital increase through newly issued shares
Increase of share premium reserve of newly issued shares
NET CASH FLOW FROM FINANCING ACTIVITIES
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT THE BEGINNING OF PERIOD CASH AND CASH EQUIVALENTS AT THE END OF PERIOD
(signed) Nikola Bakalov
Chief Executive Officer
(signed)
Ianko Karakolev Chief Financial Officer
in BGN '000
Six months
ended Six months 30/06/2023 ended 30/06/2022
74 515 | 30 758 |
61 356 | 55 012 |
(173 388) | (127 624) |
6 175 | 6 001 |
8 574 | 3 619 |
54 | (12) |
(1 292) | 2 377 |
- | - |
(24 006) | (29 869) |
(2 442) | (1 680) |
(419 125) | 258 108 |
11 142 | 5 972 |
(411 597) | (25 175) |
(28 942) | (102 164) |
(850 964) | 135 061 |
(20 875) | (21 653) |
221 948 | 501 117 |
12 607 | 62 314 |
213 680 | 541 778 |
247 689 | 204 602 |
(6 694) | (18 237) |
2 215 | 36 |
(3 000) | (1 530) |
(421 080) | 831 841 |
(11 040) | (9 838) |
98 | 14 |
1736 | 21372 |
(162 110) | (195 024) |
(171 316) | (183 476) |
33 556 | (15 289) |
533 | 5 607 |
- | - |
- | - |
34 089 | (9 682) |
(558 307) | 638 683 |
2 138 377 | 1 915 640 |
1 580 070 | 2 554 323 |
(signed)
Ralitsa Bogoeva Executive Director
FIRST INVESTMENT BANK AD | ||
Individual statement of the financial position as at 30 June 2023 | ||
unaudited | in BGN '000 | |
30.6.2023 | 31.12.2022 | |
ASSETS | ||
Cash and balances with Central Banks | 1 369 293 | 1 911 371 |
Investments in securities | 3 190 128 | 2 598 137 |
Loans and advances to banks and other financial institutions | 238 212 | 264 984 |
Loans and advances to customers | 6 659 714 | 6 384 541 |
Property and equipment | 94 751 | 98 240 |
Intangible assets | 23 127 | 14 925 |
Derivatives held for risk management | 1 831 | 1 609 |
Repossessed assets | 417 917 | 412 996 |
Investment Property | 754 385 | 750 324 |
Investments in subsidiaries | 38 526 | 38 526 |
Rights of use assets | 131 303 | 124 159 |
Other assets | 135 822 | 114 246 |
TOTAL ASSETS | 13 055 009 | 12 714 058 |
LIABILITIES AND CAPITAL | ||
Due to banks | 24 828 | 45 703 |
Due to other customers | 11 019 927 | 10 798 450 |
Liabilities evidenced by paper | 154 906 | 116 487 |
Financial liabilities at fair value through profit or loss | 4 524 | 8 488 |
Hybrid debt | 266 079 | 256 861 |
Deferred tax liabilities | 28 020 | 27 823 |
Current tax liabilities | 6 180 | 398 |
Lease liabilities | 131 383 | 124 240 |
Other liabilities | 12 450 | 7 399 |
TOTAL LIABILITIES | 11 648 297 | 11 385 849 |
Issued share capital | 149 085 | 149 085 |
Share premium | 250 017 | 250 017 |
Statutory reserve | 39 861 | 39 861 |
Revaluation reserve of investments in securities | (11 327) | (15 315) |
Revaluation reserve on property | 4 500 | 4 500 |
Other reserves and retained earnings | 974 576 | 900 061 |
TOTAL SHAREHOLDERS' EQUITY | 1 406 712 | 1 328 209 |
TOTAL LIABILITIES AND GROUP EQUITY | ||
13 055 009 | 12 714 058 |
Nikola Bakalov | Ralitsa Bogoeva |
Chief Executive Officer | Executive Director |
Ianko Karakolev | |
Chief Financial Officer |
FIRST INVESTMENT BANK AD
Individual statement of profit or loss and of other comprehensive income for the six monts ended 30 June 2023
unaudited
in BGN '000 | ||
Six months ended | Six months ended | |
30.06.2023 | 30.06.2022 | |
Interest income | 189 195 | 148 138 |
Interest expense | (15 807) | (20 514) |
Net interest income | 173 388 | 127 624 |
Fee and commission income | 90 021 | 82 611 |
Fee and commission expense | (20 933) | (17 233) |
Net fee and commission income | 69 088 | 65 378 |
Net trading income | 10 444 | 9 077 |
Other net operating income | 4 564 | 6 907 |
TOTAL INCOME FROM BANKING OPERATIONS | ||
257 484 | 208 986 |
Administrative expenses Other expenses, net
Profit before impairment
Allowance for impairment
PROFIT BEFORE TAX
(102 812) | (103 545) |
(10 227) | (16 052) |
144 445 | 89 389 |
(61 356) | (55 012) |
83 089 | 34 377 |
Income tax expense | (8 574) | (3 619) |
NET PROFIT | 74 515 | 30 758 |
Other comprehensive income for the period | ||
Items which should or may be reclassified as profit or loss | ||
Revaluation reserve of investments in securities | 3 988 | (16 572) |
Total other comprehensive income | 3 988 | (16 572) |
TOTAL COMPREHENSIVE INCOME | 78 503 | 14 186 |
(signed) | (signed) |
Nikola Bakalov | Ralitsa Bogoeva |
Chief Executive Officer | Executive Director |
(signed) | |
Ianko Karakolev | |
Chief Financial Officer |
FIRST INVESTMENT BANK AD
Individual statement of shareholders' equity for the six months ended 30 June 2023 unaudited
in BGN '000 | ||||
Issued share | Other reserves and | Revaluation reserve of | Revaluation | |
investments in | reserve on | |||
capital Share premium | retained earnings | securities | property Statutory reserve | Total |
Balance at 01 January 2022
Total comprehensive income for the period
Net profit for the year ended 31 December 2022
Other comprehensive income for the period
Revaluation reserve of investments in securities
Balance as at 31 December 2022
149 085 | 250 017 | 818 856 | 6 545 | 4 500 | 39 861 | 1 268 864 |
- | 81 205 | - | - | - | 81 205 | |
- | - | - | (21 860) | - | - | (21 860) |
149 085 | 250 017 | 900 061 | (15 315) | 4 500 | 39 861 | 1 328 209 |
Total comprehensive income for the period | ||||||||
Net profit for the six months ended on | - | 74 515 | ||||||
30/06/2023 | - | - | 74 515 | - | - | |||
Other comprehensive income for the | ||||||||
period | ||||||||
Revaluation reserve of investments in | - | - | 3 988 | |||||
securities | - | - | - | 3 988 | ||||
Balance as at 30 June 2023 | 149 085 | 250 017 | 974 576 | (11 327) | 4 500 | 39 861 | 1 406 712 | |
(signed) | (signed) | |||||||
Nikola Bakalov | Ralitsa Bogoeva | |||||||
Chief Executive Officer | Executive Director |
(signed)
Yanko Karakolev Chief Financial Officer
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Disclaimer
First Investment Bank AD published this content on 31 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2023 14:28:01 UTC.
