London Forfating Asia (LFA) has launched syndication of the loan of "First Investment Bank" JSC (Sofia). BNP-Dresdner Bank, West Merchant Bank and Bank Kreiss will also take part in the organization and financing of the loan, which is in the amount of USD 10 million. The loan's term has one-year term of redemption and includes put and call options after the sixth month. The creditors will gain a profit of 325 bps over LIBOR.
Source: Pari (20.02.1998)

The Ministry of Finance approved a list of primary dealers of government securities. These are: State Insurance Institute, Eurobank JSC, Raiffeisenbank JSC and Societe Generale JSC (for the period April 1, 1998 - June 30, 1998). From April 1 till December 31, 1998 dealers of government securities will be: CB Biochim JSC, Bulgarian Post Bank JSC, Bulgarian-Russian Investment Bank JSC, "Bulgaria Invest" JSC, Bulbank JSC, State Savings Bank JSC, Expressbank JSC, INGBank JSC, International Bank for Trade and Development, United Bulgarian Bank JSC, First Investment Bank JSC, Sofia Municipal Bank JSC, Hebrosbank JSC, FH "Eurofinance" JSC, and FH "Elana" JSC.
Source: Pari (01.04.1998)

In two months Hebrosbank JSC will be included in the system for bank payments BORIKA. By the end of 1998 is expected Unionbank JSC to join the system, announced Mr. Alexander Morozov, Executive Director of the company. At the present moment in BORIKA system are working CB Credit Express JSC, United Bulgarian Bank JSC, State Savings Bank JSC, BNB, First Investment Bank JSC, Post Bank JSC, Bulbank JSC, CB Biochim JSC, Central Cooperative Bank JSC and First East International Bank JSC.
Source: Democracy (07.05.1998)

Privatization Agency signed a contract with "Credit Swiss First Boston" for a sale of 22 water power stations from the system National Electric Company (NEC). The privatization adviser must find a buyer for the companies within a year. Six companies applied as privatization adviser of NEC privatization pool. The other applicants were "Price Water house", "Arthur Anderson", "Delloitte & Touche" and "First Investment Bank" JSC (Sofia).
Source: Pari (29.07.1998)

BGL 4.7 billion is the profit of First Investment Bank JSC (FIB) for the first six months of 1998. In this period the bank granted credits of BGL 102 million. The bank's total capital adequacy is 16.72 per cent and its capital base amounts to BGL 22 billion. In September FIB will start servicing CIRRUS cards.
Source: 24 chasa (14.08.1998)

At a General Meeting of First Investment Bank JSC (FIB) the shareholders voted for a 20 per cent increase in the bank's capital, said Mrs. Maya Georgieva, member of the Board of Directors and Executive Director of the private financial-credit institution. The increase will be done through new shares offered on the international markets to the private investors - banks and funds. At the present moment the bank's capital amounts to USD 19.5 million.
Source: Pari (08.09.1998)

"First Investment Bank" JSC (Sofia) will increase its capital by 20 per cent. The current bank's capital is USD 19.5 million. The increase will be done through the participation of London-based "Flemingsbank". The net profit of "First Investment Bank" JSC for 1997 is in the amount of BGL 835.7 million.
Source: Kontinent (09.09.1998)

"First Investment Bank" JSC (Sofia) received a license to open its branch in Albania. It is expectåd that the bank's branch in Tirana will begin to function up to end of this year.
Source: 24 chasa (30.10.1998)

"Standard & Poors" gave "B -" long-term credit rating to "First Investment Bank" JSC (Sofia). This is the first Bulgarian financial institution that received an assessment by the rating agency. The rating pointed the good quality of the bank's assets, it's good capitalization and the realized profit.
Source: Pari (11.12.1998)

20 financial institutions will be primary dealers of government bills during the first six months of 1999. The list of dealers was confirmed by the Minister of Finance Mr. Muravey Radev and the Board of Governors of BNB. These are "Biochim" JSC, "BNP Dresdnerbank Bulgaria", "BRIBank" JSC, "Bulbank" JSC, "Bulgaria Invest" JSC, "Bulgarian Post Bank" JSC, "Evrobank" JSC, "Expressbank" JSC, "INGBank" JSC, "UBB" JSC, "Municipal Bank" JSC, "First Investment Bank" JSC, "Raiffeisenbank Bulgaria" JSC, "Roseximbank" JSC, "Societe Generale", "Bank DSK", "Hebrosbank" JSC, "Unionbank" JSC, "Evrofinance", "Elana" JSC,
Source: 24 chasa (30.12.1998)