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Press Digest
Press digest - year 2008
 | Bulgarian First Investment Bank (FIBank) said it plans to issue debt for 1 bln levs on the international markets in 2008. The bank plans two bond placements worth 300 and 200 mln euro each. FIBank said it has agreed with ABN AMRO and Credit Suisse a one-year program for the placement of medium-term eurobonds and hybrid capital instruments. The two banks will also act as managers of the FIBank bonds. The issuer will be FIBank's Dutch-registered subsidiary FirstInvestment Finance B.V. Source: Dnevnik (10.01.2008) |
| | Trade on the Bulgarian Stock Exchange got off to a poor start on Monday. The total turnover amounted to BGN 19.041 million, while BSE's market capitalisation dropped to BGN 24.948 billion on the day. The Sofix blue-chip index lost 2.06% of its value closing at 1,373.81 points. The broader BG40 index depreciated by 3.57% to 408.42 points. The BGREIT index of real estate investment trusts dipped by 0.92% to 98.49 points, while the BGTR30 index of best performers in total return ended 2.23% lower at 889.32 points. A total of 68,295 shares in Chimimport traded hands on Monday. The stock depreciated by 2.03% to BGN 10.62 per share. Petrol AD's stock depreciated by 0.73% to BGN 5.46 per share. Central Cooperative Bank edged 0.94% down to BGN 7.34 per share. First Investment Bank also had a poor start to the week closing 1.13% lower at BGN 9.63 per share. Specialised Business Systems, Holding Roads and Trace Group were 6.59%, 7.75% and 4.99% down, respectively. Monbat closed Monday's trade 2.2% higher at BGN 25.15 per share. Enemona's stock added 2.7% to its value closing at BGN 17.5 per share. Corporate Commercial Bank and Bulgarian American Credit Bank were also among BSE's gainers on Monday, closing 2.51% and 0.29% higher, respectively. Source: Pari (29.01.2008) |
| | First Investment Bank will be offering a silver coin for beloved ones as a gift for St Valentine's Day. 16 thousand of the coloured coins will be minted and offered in a silvery box in the shape of a heart and inlaid with zirconium stones for the price of BGN 75. Source: Zastrahovatel (30.01.2008) |
| | Wednesday's session restored optimism on the Bulgarian Stock Exchange. The blue-chip Sofix index rose by 0.68% to 1,363.97 points. The broader BG40 of the most traded stocks added 1.42 points to its value, rising to 404.76. BGREIT of real estate investment trusts jumped by 1.76%, reaching 100.01 points. BGTR30 of the best performers in total return went up by 1.11% to 890.97 points. The trade turnover amounted to BGN 24.510 million. Mel Invest Agricultural Opportunity Fund was in the focus of investors' interest. A total of 900,090 shares changed hand at an average price of BGN 1.40, unchanged from the previous session. Odessos Shiprepair Yard led the winning stocks with a 14.49-percent rise in the price to BGN 286.19. Monbat increased by 3.97% to an average of BGN 25.69. Despred was among the loss-makers, as the stock slumped by 28.75% to BGN 6.84. Holding Roads dropped to BGN 1,159.65. Source: Pari (31.01.2008) |
| | Bulgaria's financial regulator Wed licensed Municipal Bank Asset Management, an asset manager incorporated by Municipal Bank, partially owned by the city of Sofia. The company plans to market one balanced and one conservative mutual fund. The most optimistic target for the start of operation of the new funds is Jun, said executive director Vasil Trenev. Investbank, Raiffeisenbank, UBB and DSK Bank are the other local lenders in the business of managed assets. Corporate Commercial Bank secured the relevant licence in '07 but is yet to offer mutual funds. First FBH Asset Management markets mutual funds under the First Investment Bank brand. Source: Dnevnik (31.01.2008) |
| | The net profit of First Investment Bank JSC for 2007 has increased with 74,21% compared to 2006. This is data from the unconsolidated financial reports for the Q4 of the last year, presented to the Financial Supervision Commission. The profit growth is due to the increased credit portfolio, the significant rise of the noninterested incomes and the good corporate management, they said from the bank, managed by Matyo Matev. Source: Monitor (01.02.2008) |
| | ll four indexes of the Bulgarian Stock Exchange (BSE) ended Tuesday's session with gains. The BG40 index of the most traded stocks advanced by 1.35% to 412.88 points, while the Sofix blue-chip index gained 0.45%, closing at 1,428.47 points. The BGREIT index of real estate investment trusts edged 0.66% up to 928.89 points. The BGTR30 index of best performers in total return added 0.83% to its value ending at 99.98 points. BSE's total turnover amounted to BGN 7.78 million on Tuesday. A total of 278,300 shares in Advance Terrafund changed hands on the day. The stock appreciated by 1.02% to an average of BGN 1.99 per share. First Investment Bank's stock appreciated by 6.65% to BGN 10.26 per share. Chimimport and Katex were also among BSE's gainers on the day. Kremikovtzi's stock depreciated by 2.16% to BGN 19 per share. Sopharma closed 1.05% down at BGN 7.52 per share. Lavena and Unimash also closed Tuesday's session on negative turf. Source: Pari (06.02.2008) |
| | Balkan Holidays, a UK-registered tour operator, has acquired 7.39 million shares in First Investment Bank (FIBank), the Bulgarian Stock Exchange said. The package makes 6.718% of the bank's capital. Balkan Holidays operates in Bulgaria, Croatia, Slovenia, Serbia, Montenegro and Romania. FIBank netted a BGN 50.1 million profit for 2007, compared with a BGN 28.7 million result for 2006. As much as BGN 2.25 million of the profit was due to net earnings from capital instruments and connected derivatives. The assets of the financial institution increased by 33% last year, from BGN 3.16 billion to BGN 4.2 billion. The net interest income totalled BGN 130.8 million in 2007, up from BGN 84.2 million in 2006. The bank reported BGN 98.9 million administrative costs. Source: Pari (22.02.2008) |
| | Interest Rates of Deposits Hit the Ceiling
"The interest rates on deposit accounts are expected to start going down after keeping their now levels for a certain short period of time. The ceiling was reached when in December, 2007, the rates increased by 30% for the year," said Stoyan Bozveliyski, Manager of Lending Division of CB Unionbank INC. The increase in the last year resulted from the world financial crisis and lack of sufficient liquidity. These factors have increased the cost of money on a global scale and have forced the banks to increase the interest rates as a means of attracting fresh funds from citizens and firms. Currently, a drop is observed on the world markets. The US federal reserve has already decreased its basic interest rate. It is expected that the European Central Bank (ECB) will soon undertake similar measures, Bozveliyski commented. Currently, the annual interest rates in Bulgaria exceed 7%. "In 2008, the bank deposits will grow by some 50%," Bozveliyski forecast. In 2007, they marked a growth of 29% only and reached 18,8 billion levs (1euro=1.95 levs). The reason for this modest increase was the bigger profitability of the alternative products: mutual support funds, bourses and real estates. This year it is expected that their lower profitability will "send" more funds to the bank deposits. According to the analyzers of Unionbank, for the next 5-10 years two thirds of the savings in Bulgaria will remain in bank products. Source: Standart (22.02.2008) |
| | Petrol holding JSC is no longer included in the SOFIX index, informed BSE. In the same time Corporate Commercial Bank JSC, First Investment Bank JSC, Lead and Zinc Complex JSC and Roads Holding JSC are added to the main bourse index. Following a decision of the management of the BSE six companies - Alcomet JSC, Oil and Gas Exploration and Production JSC, Favorit Hold JSC, Polimeri JSC, Emka JSC and Decotex JSC) are replaced in the calculation of the wide index BG40 by six other companies (Moststroy JSC, Corporate Commercial Bank JSC, Devin SPJSC, Aroma PLC JSC, Elhim-Iskra JSC and Lomsko Pivo JSC). Source: Darik Radio (07.03.2008) |
| | The revenue from bank operations of First Investment Bank (FIBank) for 2007 reached BGN 195.2 million, data from the bank's consolidated balance sheet show. This is an increase of more than 47% year-on-year. Net income from interest, which is BGN 132.6 million, has the largest share in the positive result. For comparison, this indicator was BGN 85.3 million in 2006. The 2007 net profit of the credit institution rises by BGN 22.3 million to over BGN 51 million. The growth is due to the enlarged credit portfolio of the bank and the rise in non-interest income. The ratio of administrative expenses to total revenue from bank operations as of December 31, 2007 reaches 54.98%, compared to 62.58% in 2006. If FIBank continues to maintain its profitability indicators, its consolidated profit will reach at least BGN 60.5 million in 2008, Konstantin Abrashev of BenchMark Finance said. The companies participating in FIBank's annual consolidated balance sheet are: First Investment Finance B.V. of the Netherlands, Diners Club Bulgaria, and First Investment Bank of Albania. Source: Pari (12.03.2008) |
| | The leaders in the 2006 ranking swapped placed last year, with Kremikovtzi taking the top position. The steel plant's sales income reached BGN 1.43 billion at the end of the year, thanks to BGN 418 million received from sale of assets. The Bulgarian Telecommunications Company (BTC) preserved its income of nearly BGN 1 billion but lost the first place. Petrol was third in sales. Chimimport was the surprise in Pari daily's 2007 ranking, doubling its sales to BGN 521.8 million and climbing to the fourth place. It was followed by Bulgartabac, Synergon and Toplivo. At the same time newly listed companies like First Investment Bank, Eurohold Bulgaria and Sopharma Trading found their place among the top ten performers. Source: Pari (13.03.2008) |
| | Net earnings at the local First Investment Bank (FIBank) jumped 77% y/y to 51 mln levs in '07 with overall income from banking operations up 47% to 192 mln levs, shows the financial report of the lender filed at www.x3news.com. The balance sheet assets of the bank rose 33% y/y to 4.2 bln levs - the 6th highest balance sheet figure in the local banking system, with credits adding 62% to 2.8 bln levs. The deposit portfolio gained 46% to 2.48 bln levs. The capital adequacy of the lender fell to 12.98% in late '07 from 15.81% a year ago. FIBank opened some 20 branches last year and not has a network of 120 outlets and over 2,200 staff. Source: Dnevnik (14.03.2008) |
| | The expectations of professional investors about the movement of the blue-chip Sofix index of the Bulgarian Stock Exchange (BSE) in the next four weeks are mixed, Pari daily's Bullish Bearish Sentiment (BBS) indicator shows. According to 52% of the interviewed brokers, Sofix will remain practically unchanged. Another 42% are upbeat about the index and just 6% are pessimistic. The Sofix movement in the coming weeks will depend mainly on the news about the development of the global liquidity crisis. The decision of BSE's board of directors to replace Petrol AD with Corporate Commercial Bank, First Investment Bank, OTsK and Holding Roads in the calculation of Sofix increased the weight of financial companies in the index. Source: Pari (17.03.2008) |
| | Bulgarians used ATMs to withdraw cash and make payments for a total amount of 8.959 bln levs in 2007, shows data of national card operator Borica. Cash withdrawals added up to 7.137 bln levs or almost 80% of recorded ATM transactions. POS terminal payments accounted for 12.7% of 2007's card transactions. There were 3,644,041 Borica-branded cards in circulation last year. Their growth has slowed from 49.3% in 2003 to 7.4% in 2007. In addition to the widening base, the loss of momentum is also due to the decision of some local banks to quit the Borica system and deploy an ATM network of their own. These include DSK Bank, United Bulgarian Bank, Postbank and First Investment Bank. Source: Dnevnik (19.03.2008) |
| | The Bulgarian Stock Exchange (BSE) indexes registered a new decline. The broader BG40 of the most traded stocks fell by 2.53% to 354.07 points. Blue-chip Sofix dipped by 1.42% to 1,244.53 points. BGTR30 of the best performers in total return was also among the losers, parting with 1.76% of its value and dropping to 816.54 points. BGREIT of real estate investment trusts was the only one to stay afloat with a modest rise by 0.80% to 96.25 points. Total BSE turnover reached BGN 20.6 million. Astera Cosmetic was among the winners with 11.13-percent growth to BGN 8.89 per share. Lavena did not manage to escape the general trend and lost 9.43% to BGN 30.07 per share. Source: Pari (28.03.2008) |
| | The Vienna Stock Exchange (VSE) will start calculating a national index for Bulgaria: Bulgarian Traded Index (BTX), the institution said. The new index includes seven of the most traded companies with the highest capitalisation on the Bulgarian Stock Exchange (BSE). These companies are Chimimport, First Investment Bank, Eurohold Bulgaria, Industrial Holding Bulgaria, Corporate Commercial Bank, Monbat, and Kaolin. Calculation of the new index started on Friday. BTX is capitalisation-weighted. The weight of each company represented in BTX cannot exceed 25%. However, the index will not include corrections for dividend payments. VSE will calculate the index in real time and in three currencies simultaneously: BGN, EUR, and USD. Bulgarian Traded Index will be used for standardised derivatives such as futures, options, and structured products. The start level of BTX is 1,000 points. The calculation parameters will be revised each quarter. Changes to the index will be made semi-annually. BTX will not only contribute to the improvement of cooperation between the VSE and BSE, but will also raise the liquidity of your market, Heinrich Schaller, member of the board of directors of the Vienna Stock Exchange, told IPO.bg. Source: Pari (31.03.2008) |
| | The General Meeting of the shareholders of First Investment Bank JSC, Bourse code FIB, which was held on March 31, 2008, decided that the company should not distribute dividends for 2007. First Investment Bank JSC reported profit to the amount of BGN 50.1 mln. The whole profit will be allocated to the Reserve fund. Source: Capital market (02.04.2008) |
| | The indexes of the Bulgarian Stock Exchange (BSE) registered a new downfall on April 1 following an optimistic start of the week. Sofix dipped by 3.44% to 1,211.82 points, with 17 blue chips ending at a loss. The broader BG40 of the most traded stocks declined by 2.64% to 345.46 points. BGTR30 of the best performers in total return followed suit and ended at 809.57 points, down by 1.74%. BGREIT of real estate investment trusts was the only one to uphold its positions, rising by a narrow 0.52% to 97.76 points. Total BSE turnover reached only BGN 7.64 million. Kremikovtzi found the right approach to investors and raised the price of its shares by 12.88% to BGN 19.90. CBA Asset Management took the lead on the losing side after the value of its shares dropped by 10.73%. Some 220 shares were transferred at an average price of BGN 3.16. Source: Pari (02.04.2008) |
| | Bulgaria's First Investment Bank (FIBank) will pay no dividends for 2007, the general shareholders' meeting decided. The bank's net profit of BGN 50.1 million will be added to the equity capital to increase FIBank's tier-one capital. The shareholders elected KPMG to serve as specialised auditor for 2008. Our aim is to ensure the bank's organic and gradual development rather than promote growth at all costs, the financial institution's executive director, Maya Georgieva, said. Source: Pari (02.04.2008) |
| | CB First Investment Bank AD-Sofia, BSE code - FIB, submitted to X3 News the following information:
Herewith, CB First Investment Bank informs about the General Meeting of Shareholders held on 31 March 2008.
The General Meeting of Shareholders has adopted the report of the Management Board about the bank activities in 2007 also the audit report for 2007 of the specialised audit firm, the annual financial statement of the bank and the report of the Investor Relations Director about her activity in 2007.
The GMS has taken a majority decision the entire 2007 net profit of the bank amounting to BGN 50.1 million to be capitalised through allocation to the general reserves. This way will be increased the capital base of the bank.
Please, refer to the entire notification at http://www.x3news.com. Source: x3news.com (02.04.2008) |
| | The blue-chip Sofix index of the Bulgarian Stock Exchange (BSE) went up by 0.54% to 1,212.64 points on Wednesday. The broader BG40 of the most traded stocks was also on the rise, jumping by 1.90% to 351.92 points. But the new indexes, BGREIT of real estate investment trusts and BGTR30 of the best performers in total return, lost 0.31% and 0.04% of their value, dipping to 95.27 and 819.97 points, respectively. BSE's total turnover reached BGN 11.8 million. For the second day in a row Chimimport remained the most traded stock: a total of 843,351 shares changed hands at BGN 8.57, up by 1.18%. Mel Invest Holding rose by 12.50% to BGN 1.80 per share. But Orgtechnica slumped by 11.92%, reaching a price of BGN 8.50. Source: Pari (10.04.2008) |
| | Trade on the Bulgarian Stock Exchange (BSE) finished with a fresh disappointment for the indexes. BGTR30 of the best performers in total return lost 3.01% to 783.66 points. The broader BG40 of the most trade stocks decreased by 2.05% to 337.79 points, while the blue-chip Sofix fell by 1.74% to 1,164.65. BGREIT of real estate investment trusts followed the general trend and dipped by 1.28% to 94.35 points. Total BSE turnover was BGN 11.62 million. Despred boosted the value of its shares by 30% to BGN 3.64. Only 130 shares of the company participated in the trade session. Agria Group Holding shares lost 14.16% to BGN 6.73. Source: Pari (16.04.2008) |
| | The net profit of First Investment Bank JSC in the first quarter of the year reached BGN 15,070 thous, which is a 49 percent increase compared to the same period last year. This is a result of the enlarged credit portfolio and the drowth of non-interest income. The balance number of the bank on March 31, 2008, is BGN 4,070 mln, BGN 136 mln less compared to March 31, 2007, a 3.22 percent decrease. The decrease is caused by the acquittal of a EUR 200 mln principal and EUR 15 mln interest on a long-term bond loan. Source: Insurance.bg (18.04.2008) |
| | First Investment Bank said profits rose 50% y/y to 15.07 mln levs in Q1 08. The earnings report bumped up the stock of the bank 6.17% to 6.99 levs last Fri as preliminary figures showed net interest income up 40% y/y to 38.49 mln levs and income from fees and commissions up 47% y/y to 15.48 mln levs. The bank posted a 3.22% drop in assets to 4.07 bln levs after the payment of 200 mln euro principal and 15 mln euro interest on a long-term bond. Source: Dnevnik (21.04.2008) |
| | Trade on the Bulgarian Stock Exchange (BSE) started the week with optimism, despite the thin volume (BGN 4.241 million). The blue-chip Sofix index went up by 1.53% to 1,165.43 points. The broader BG40 of the most traded stocks closed at 228.88 points, rising by 1.85% on Monday. BGTR30 of the best performers in total return edged up by 0.08% to 781.72 points. Only BGREIT of real estate investment trusts lost 0.15% of its value, closing at 93.88 points. Chimimport was among the most traded stocks on Monday, which raised the price of the shares by 3.73% to BGN 8.35. After a series of losses Monbat regained 2.25% of its value, rising to BGN 25.47 per share. Central Cooperative Bank added 6.30% to its market price, reaching BGN 5.06. Lomsko Pivo was among the losers, dropping by 6.03% to BGN 2.96 per share. Source: Pari (22.04.2008) |
| | Three of the public banks in Bulgaria posted a considerable increase in their results for the first quarter of 2008. The net profit of Corporate Commercial Bank (KTB) surged by nearly 74% to BGN 9.13 million, the company's report shows. First Investment Bank's (FIB's) profit rose by 50% to BGN 15.07 million. The financial result of Bulgarian-American Credit Bank reached BGN 14.5 million at the end of March, up by 34% year on year. The good performance of the Bulgarian financial institutions comes at a time when banks in the USA and West Europe are writing off billion dollars of assets and reporting record losses due to the mortgage crisis. According to Daniel Dimitrov of Real Finance Asset Management, despite the global crisis, Bulgarian banks are doing more than fine. KTB's assets decreased by BGN 89.2 million to BGN 1.68 billion in the first quarter of the year, due to BGN 180 million centralised budget funds included in the bank's balance sheet at the end of 2007. FIB's assets fell by 3.2% to BGN 4 billion. The drop is mainly due to seasonal factors, the executive director of Balkan Capital Management, Andrey Georgiev, said. Source: Pari (23.04.2008) |
| | The indexes of the Bulgarian Stock Exchange (BSE) closed lower on Wednesday, as most stocks decreased in price. The blue-chip Sofix index lost 1.32% of its value, dropping to 1,139.90 points. The broader BG40 of the most traded stocks slumped by 1.36% to 328.94 points. BGTR30 of the best performers in total return reached 766.39 points, down by 1.31%. Only BGREIT of real estate investment trusts rose by 0.11%, closing the session at 93.59 points. Trading turnover amounted to BGN 7.155 million. Zarneni Hrani Bulgaria was the most traded stock, as more than 1.5 million shares changed hands. The price rose by 1.94% to BGN 2.10 per unit. Zlatni Pyassatsi was among the biggest losers, as the stock decreased by 10.67% to BGN 8.04. Source: Pari (24.04.2008) |
| | The short two-day week on the Bulgarian Stock Exchange finished on a negative note. The blue-chip Sofix fell by 1.16% on Wednesday, April 30 to 1,138.48 points. The broader BG40 of the most traded stocks lost 4.47% to 318.41 points. BGREIT of real estate investment trusts edged down by 0.25% to 95.69 points. BGTR30 of the best performers in total return closed at 779.56 points, down by 1.19%. Trade was weak last Wednesday at a turnover of almost BGN 2.558 million. Petrol was first among the winners with a rise by 10.73% to BGN 9.39 per share. OTsK shares lost 4.77% to BGN 39.75 per share. Source: Pari (07.05.2008) |
| | With BGN 4 069 mln. assets, First Investment Bank JSC (FIB) is in the sixth place among the banks in Bulgaria. Its market share for the Q1 is 6,84%. The increase of the assets compared to the same period of 2007 is 32,88%. The profit for Q1 is BGN 15,07 mln., as the growth is almost 50% in comparison with Q1 in 2007. FIB is also in the sixth place for floating loans to companies and citizens, as the growth compared to the last year is BGN 991 mln or 51,1%. Source: Darik Radio (14.05.2008) |
| | The crisis on the Bulgarian Stock Exchange (BSE) proved less of an obstacle for newcomers than for blue chips, a Pari daily analysis showed. The average loss for newly-registered companies for the period from January 2 to May 12, 2008 was 18.54%, while the blue-chip index Sofix lost 31.85% during the same period. Despite market developments, some newcomers actually achieved profits. Trade in shares of energy company Enemona started on January 23 and brought investors a yield 8.26% above the initial price. Advertising company Billboard made its debut on February 20 and, despite a sizable correction, increased its capitalisation by 30.49%. One of the losing debut issues was that of Trace Group Hold. The initial public offering of the road construction company and the first day of trade caused a stir among investors, but the shares have plunged by 58.46% since the start of 2008. After a record-breaking yield of more than 170% on the first day of secondary trade, Trace's shares dropped below their IPO value. Orgachim was among the most afflicted Sofix representatives during the period. The market capitalisation of the paint and varnish producer dropped almost 50%. Chimimport lost 34.3% of its share value, while pharmaceutical giant Sopharma registered a 32.07-percent drop. It turns out that the most liquid companies have been most affected. In less than a year after their IPOs, First Investment Bank (FIBank), Corporate Commercial Bank and Kaolin managed to enter Sofix. Fast entry of young public companies into leading indexes is not common on a worldwide scale, analysts said. Out of those three, FIBank was most affected by the stock exchange crisis. Source: Pari (14.05.2008) |
| | "The Bulgarian banking system is stable and able to meet pretty high liquidity requirements," Bulgaria's PM Sergey Stanishev said in an attempt to dispel recent rumours about a Bulgarian bank going bankrupt. "I haven't received any data from the Bulgarian National Bank that may sound disturbing to depositors of any bank in Bulgaria," PM Stanishev added further. Source: Standart (16.05.2008) |
| | The unconsolidated net profit of First Investment Bank JSC as to the end of April is BGN 17.674 mln, which is a 41.12 percent Y-o-Y growth, according to an information of the bank to Bulgarian Stock Exchange. Clien deposits to April 30 are BGN 2.8 bln, which is 13.81 percent increase for one year. The balance figure of FIBank is BGN 3.9 bln. This is BGN 935.53 mln or 31.14 percent more compared to April 2007. The capital adequacy ratio is 13.57 percent. Shares of First Investment Bank rose yesterday by 4.61 percent to BGN 7.04. Source: Standart (17.05.2008) |
| | Bulgaria's First Investment Bank (FIBank) posted a BGN 17.67 million non-consolidated net profit for the first four months of 2008, up more than 40% year on year. The bank attracted nearly 14% more deposits: their total amount reached more than BGN 2.8 billion at the end of April. FIBank's total assets amounted to BGN 3.9 billion at the end of April, up 31% compared to the year-ago period. The liquidity quotient of the financial institution reached 24.61%. Source: Pari (19.05.2008) |
| | The shares of First Investment Bank, traded on BSE increased by 3.56% compared to their Saturdays level of closure and the company closed yesterday at a price of EUR 7.40 per share, as the traded volume was 88 765. On the first day of the new working week all branches and offices of First Investment Bank are working normally. Attendance of citizens and representatives of companies is within the usual. Currently there is an increased interest in the proposed deposits by the financial institution. Source: Insurance.bg (20.05.2008) |
| | Financial Supervision Commission to include in the investigation who has released a bankruptcy hearing for First Investment Bank / FIB. By the supervisory authority are targeted attention on trade in securities of FIB the stock exchange in the past three days last week because the suspect possible manipulation. In the usual 15-20 thousand volumes shares in those days the trade was 100 thousand transfers show of finance5.bg. Their analysts comment on three main versions of rumors which created enormous problems of the credit institution and provoked the intervention of the central bank and government. The aim would be interested to gain competitive fixtures FIB of multiple lower than the fair price. The technical problems during the change of software for Internet banking is also not excluded as a cause of difficulties. This explanation was also one of the first announced of banking supervision. In the case of delayed intervention and adequate behavior by the BNB, it would be a very alarming signal for the entire banking system, says financial analyst Petar Karaivanov, which recalls the events of September 1996 and withdraw the licences of 14 banks, which unlock hiperinflation in the country. Possible speculative transactions in the shares of the Bank of BSE - what will investigate the FSC are not excluded according to experts, and the reason may be pure PR campaign. The test certainly was indicative of it and can make very serious conclusions for the future, the first of them concerns the power and influence of the Internet for which the authors of the attack may not have given account. Source: Insurance.bg (20.05.2008) |
| | Moody's Investors Service Wednesday said it has placed on review for possible downgrade the D bank financial strength rating (BFSR) and the Ba1 long-term local and foreign currency deposit ratings of First Investment Bank (FIB). The rating agency also placed on review for possible downgrade the bank's Ba1 senior unsecured rating and Ba2 subordinated debt rating. Moody's said that the rating action was triggered by the recent outflow of deposits FIB experienced, which were reported to have started following rumours circulated electronically regarding the financial condition of the bank. Source: Dnevnik (22.05.2008) |
| | The blue-chip Sofix index of the Bulgarian Stock Exchange (BSE) lost 1.33% to 1,251.83 points on Wednesday, as did the broader BG40 of the most traded stocks, which dropped 2.24% to 349 points. But the new market indexes gained ground: BGREIT of real estate investment trusts went up 1.03% to 96.02 points and BGTR30 of the best performers in total return edged up 0.07%, closing at 843 points. The trade turnover was BGN 6.898 million, the total market capitalisation reached BGN 23.457 billion. After the price rise in the beginning of the week, on Wednesday road construction companies lost some of their value. Holding Roads' shares cheapened 1.12% to BGN 1,171.45, Moststroy lost 1.91% to BGN 162.63 per share. Trace Group decreased 3.67% to BGN 160.50, despite the news that it will pay dividends. Agro Finance was the most traded company, which raised the price of the stock 6.15%. A total of 1,336,600 shares changed hands at BGN 1.38. Source: Pari (22.05.2008) |
| | Three out of four indexes on the Bulgarian Stock Exchange increased their value during Thursday's trade. The blue-chip Sofix edged up 0.01% to 1,251.94 points. BGREIT of real estate investment trusts added 0.05% to 96.07 points, while BGTR30 of the best performers in total return gained 0.24% to 845 points. The broader BG40 of the most traded stocks dipped by 0.15% to 348.49 points. Total trade turnover reached BGN 5.14 million. Balkantourist shares rose 28.92% to an average of BGN 3.21 per share. Kremikovtzi faced new losses with 3,425 shares traded at an average price of BGN 7.71, down by 16.47% from the previous session. Source: Pari (23.05.2008) |
| | CB First Investment Bank AD-Sofia, BSE code - FIB, submitted to X3 News the following information:
"Fitch Ratings changed First Investment Banks Outlook form Stable to Positive. The Banks other ratings were affirmed.
The Fitch release states that FIBank's ratings reflect the bank's good franchise, improvements in business diversification, acceptable capitalisation and risk management framework.
In conclusion Fitch Ratings remind that FIBank was the sixth-largest bank in Bulgaria by total assets at end-2007 and that at end-Q108, it had market shares of 7% and 8% in assets and deposits, respectively."
Please, refer to the entire notification at http://www.x3news.com. Source: x3news.com (23.05.2008) |
| | CB First Investment Bank AD-Sofia, BSE code - FIB, submitted to X3 News the following information:
"We hereby inform you that yesterday Moody's Investors Service placed on review for possible downgrade the D bank financial strength rating (BFSR) and the Ba1 long-term local and foreign currency deposit ratings of First Investment Bank AD. The rating agency also placed on review for possible downgrade the Bank's Ba1 senior unsecured rating and Ba2 subordinated debt rating.
The press release issued by Moody's says that the rating action was triggered by the recent outflow of deposits FIBank experienced, which were reported to have started following rumours circulated electronically regarding the financial condition of the Bank. It also refers to the Bulgarian National Bank's ("BNB") public announcement which condemned the rumours as unfounded and attested to the Bank's good standing, stating that BNB would use all measures at its disposal to support the stability and financial health of the Bank.
Moody's acknowledge FIBank and BNB's position that the deposit outflow has ceased and the impact on the Bank's deposit franchise has not been material. The agency says it will focus its review on assessing any potential longer-term impact on the Bank's business franchise, specifically its market reputation, funding ability and franchise development, and the Bank's overall future financial fundamentals.
Moody's state that if the review concludes that FIBank's business growth and deposit franchise dynamics are resilient and have reverted to normal conditions, the ratings could be confirmed."
Please, refer to the entire notification at http://www.x3news.com. Source: x3news.com (26.05.2008) |
| | The new week on the Bulgarian Stock Exchange (BSE) started with low indexes despite a total turnover of almost BGN 33.714 million. The blue-chip Sofix dropped 2.70% to 1,216.38 points. The broader BG40 of the most traded stocks fell by 3.75% to 335.37 points. BGREIT of real estate investment trusts dipped 0.21% to 96.37 points, while BGTR30 of the best performers in total return lost 2.37% to 822.36 points. Mettalurgical plant Kremikovtzi headed the list of losers after its shares dropped by 11.50% to BGN 7.08. Slanchev Bryag Holding was among the few winners. Its shares added 9.09% to an average of BGN 6. Source: Pari (27.05.2008) |
| | CB First Investment Bank AD-Sofia, BSE code - FIB, submitted to X3 News the following information:
CB First Investment Bank AD was awarded the prestigious third place in "Dnevnik 100" ranking of the 100 best public companies on the Bulgarian Stock Exchange-Sofia, made by the daily newspaper "Dnevnik".
The entire notification is available on http://www.x3news.com. Source: x3news.com (27.05.2008) |
| | The indexes of the Bulgarian Stock Exchange (BSE) remained almost unchanged on Tuesday, the turnover amounted to BGN 7.817 million. The blue-chip Sofix index lost 0.02% of its value, closing at 1,216.15 points. BGREIT of real estate investment trusts dipped 0.97% to 95.44. But the broader BG40 of the most traded stocks went up 0.20% to 336.05, as did BGTR30 of the best performers in total return, which rose 0.37% and closed at 825.44 points. Status Property was the most traded stock, but the price remained unchanged at BGN 1.25 per share. Agria Group was among the gainers, as the stock appreciated 7.76% to BGN 8.89. Road construction companies, however, registered a decrease: Holding Roads dropped 5.52%, Moststroy, 4.79%, and Trace Group, 4.93%. Source: Pari (28.05.2008) |
| | All indexes of the Bulgarian Stock Exchange (BSE) rose on Wednesday in a bullish market. The blue-chip Sofix went up 2.38% to 1,245.13 points, the broader BG40 of the most traded stocks rose 4.67% to 351.76. BGREIT of real estate investment trusts added 2.56% to its value, reaching 97.88 points. BGTR30 of the best performers in total return closed at 837.50 points, up 1.46%. The turnover reached BGN 11.424 million, mainly due to active trade in the bank stocks. Astera Cosmetics was the most traded company: 85,500 shares changed hands at BGN 9.65, up 0.52%. Moststroy was among the winners, rising 4.60% to BGN 147.47. Source: Pari (29.05.2008) |
| | All market indexes decreased during Thursday's trade. At total tunover of almost BGN 7.070 million, the blue-chip Sofix closed down 0.08% at 1,244.08 points. The broader BG40 of the most traded stocks lost 0.90% to 348.59 points. BGREIT of real estate investment trusts dipped by 0.82% to 97.08 points. BGTR30 of the best performers in total return fell by 0.16% to 836.19 points. The session was quite negative for Kremikovtzi, which lost 11.85% to an average price of BGN 7.59 per share. Zarneni Hrani Bulgaria was among the winners with a rise of 4.06% to an average of BGN 2.82 per share. Source: Pari (30.05.2008) |
| | The blue-chip Sofix index of the Bulgarian Stock Exchange (BSE) edged down 0.09% during trade on Tuesday, closing at 1,239 points. BGTR30 of the best performers in total return was also a loser, dropping 0.42% to 833.73 points. But BG40 of the most traded stocks increased 0.34%, reaching 346.73 points. BGREIT of real estate investment trusts also added 0.18% to its value, rising to 97.02 points. The trade turnover amounted to just BGN 4.4 million. First Investment Bank was the most traded stock, as 76,585 shares changed hands at BGN 7.38, up 0.55%. Biovet rose 10.16% to BGN 12.80 per share. Serdikom and Kremikovtzi led the losers, falling 12.48% and 10.50%, respectively, to BGN 5.33 and BGN 6.39. Source: Pari (04.06.2008) |
| | All Bulgarian Stock Exchange (BSE) indexes slipped on the first day of the week. The broader BG40 of the most traded stocks lost 2.61% to 329.55 points. BGTR30 of the best performers in total return dropped by 1.74% to 808.35 points. Cheapening blue-chip prices dragged down Sofix by 1.36% to 1,208.67 points. BGREIT of real estate investment trusts decreased by 0.66% to 94.65 points. Agro Finance was the most successful company, with its shares rising by 7.88% to an average of BGN 1.37. Kremikovtzi headed the list of losers for yet another day. Shares of the steel mill plunged by 28.94% to an average of BGN 1.67. Source: Pari (10.06.2008) |
| | CB First Investment Bank AD-Sofia convened extraordinary general meeting of shareholders.
OSA will be held on 14-07-2008 ot11: 00 hours in 1000 at Sofia Sq. "Sunday World" 5, Sheraton Sofia Hotel Balkan, "hall" Royal "in the following agenda:
AGENDA OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS OF FIRST INVESTMENT BANK on 14.07.2008 at from 11.00 hours per address: town Sofia, Sq. "Sunday World" 5, Sheraton Sofia Hotel Balkan, "hall" Royal "will be held a general meeting of shareholders of First Investment Bank Plc, the town Sofia, with EIK 831094393 with the following agenda: 1. Changes in objects of the First Investment Bank DRAFT RESOLUTION: General Meeting of shareholders accept changes to the subject matter of activity as follows: "The bank made public attract deposits or other repayable funds and provide loans or other financing for its own account and risk. The Bank may perform the following functions: 1. making non-cash transfers and other forms of non-cash payments such as credit and inkaso 2. issuance and administration of funds for payment by electronic payment instruments, travellers' cheques, 3. acceptance of the values of deposit, 4. activity as a depository institution or popechitelska; 5. making money transfers outside the case in point 1, 6. Financial leasing; 7. securities transactions; 8. trading for its own account or on behalf of clients with: a) money market instruments - checks, exchange, deposit certificates and other b) foreign currency and precious metals; c) financial futures, options, instruments linked to exchange rates and interest rates, and other derivative instruments; 9. trading for its own account or on behalf of clients in transferable securities, participation in emissions of securities and other services and activities under Art. 5 para. 2 and 3 of the Law on markets in financial instruments; 10. Financial brokerstvo, 11. consultations on portfolio investment, 12. purchase of receivables arising from the delivery of goods or providing services, and assume the risk of collection of these receivables (factoring) 13. acquisition and management of shareholdings, 14. rental of safes, 15. collection, providing information and referrals on the creditworthiness of customers, 16. other similar activities as defined by regulation of the Bulgarian National Bank (BNB). 2. Adoption of changes to the charter of First Investment Bank DRAFT RESOLUTION: General Meeting of shareholders accept changes in the Charter as follows: 2.1. Amendment of Art. 4 2 t.9, as the phrase "and other services and activities under Art. 54 para. 2 and 3 of the Law on public offer of securities" is replaced by "and other services and activities under Art. 5 para. 2 and 3 of the Law on markets in financial instruments. 2.2. Amendment of Art. 6 para. 1 of the charter - the words "100 000 000 (one hundred million) euro, divided into 100 000 000 (one hundred million) the number of ordinary bearer shares dematerialized shares with voting rights in the General Assembly, with a nominal value amounting to 1 (one) each lev one 'is replaced by "110 000 000 (one hundred and ten million) euro, divided into 110 000 000 (one hundred and ten one million a) the number of ordinary bearer shares with book entry right to vote in the General Assembly, with a nominal value amounting to 1 (one ) Lev each. "2.3. Amendment of Art. 18 para. 3 of the Statute, as the phrase "generally up to 1 000 000 000 (one billion) EUR, respectively equivalent in another currency" is replaced by "a total sum to 2 000 000 000 (two billion) EUR, respectively equivalent in another currency ". 2.4. Amendment of Article 38 para. 2, b. "H" from the statutes, as in the text are deleted the words "the closure or transfer of undertakings". Source: x3news.com (10.06.2008) |
| | Wednesday's session on the Bulgarian Stock Exchange (BSE) restored investors' optimism as two of four indexes increased. The broader BG40 of the most traded stocks went up 0.84% to 325.94 points. BGTR30 of the best performers in total return rose 0.91% to 804.68 points. But Sofix dipped 0.22% to 1,194.24 points, as 11 blue chips decreased in price. BGREIT of real estate investment trusts lost 0.65% of its value, dropping to 93.77 points. The total trading turnover reached nearly BGN 9 million, with First Investment Bank being the most traded stock. Kremikovtzi overcame the decline and increased 29.78% to BGN 2.31, as 1,441 shares changed hands. Petrol's stock appreciated 10.52%, reaching an average price of BGN 9.14. Katex lost 7.31%, slumping to BGN 9.26. Source: Pari (12.06.2008) |
| | Investor wariness and low trade marked the first day after the launch of the new stock exchange trading system XETRA. Total turnover stood at BGN 2.64 million, but indexes started the week on a positive note. The blue-chip Sofix edged up by 0.04 basis points to 1,194.28 points. The broader BG40 of the most traded stocks increased by 0.09% to 326.24 points. BGREIT of real estate investment trusts added 2.19% to 95.82 points. BGTR30 of the best performers in total return gained 0.04% to 805.02 points. The price of Lavena shares went up by 13.18% to an average of BGN 24.90. Slanchev Bryag lost 25.91% to an average of BGN 11.15 per share. Source: Pari (17.06.2008) |
| | Established: 1964 g.Adres: town 4003 Plovdiv, Bulgaria. "Rodopsko Shosse 1, www.gagarin-bt.com
Phone: 032/957 101, fax 032/945 405 Sector: Production of cigarette filters and packaging paper. Share Capital: 1,004 million BGL CEO: Eng. Ventsislav Kaymakanov, Investor Relations Director: Ivan Chakalov, current accounts: to the first quarter of 2008
Plovdiv Yuri Gagarin BT "is the only bulgarian specialized manufacturer of filters and packaging for cigarette production. The company produces a packaging paper for food, perfumery and pharmaceutical industries. In October 2006 it was privatised in the Bulgarian Stock Exchange and its owner became the company "Baranko Ltd., registered shortly before this subsidiary of the Cypriot offshore company" Baranko co limitid.
"Gagarin BT" was founded in 1964 as the sole and then bulgarian producer of printed packaging filter bars, spare parts and equipment for non-standard tsigarenata and the tobacco industry. At the end of last year the Board of Directors decided unit "Non-standard equipment" and "Educational and office products" to be closed because of their small share in the revenue system.
"Gagarin BT" worked to profit this year, when its report for the quarter showed a net loss to March.
Customers have four cigarette factories in Bulgaria, Nestle, Kraft fuuds, Melbon "," Victory "," Alen Mak, Rubela, "Rose impeks. Part of production is exported, as last year this share was 7.45% of it. For the first quarter base production, you realize most sales are printed articles and filter bars. Their value was 6.82 million euro, over 90% of all realized production to March. The internal market is formiral 76% of revenue, the remaining are due to exports. On 29 September last year, "Gagarin BT" has signed four contracts with cigarette companies to supply filters and printed materials. The contracts are for three years.
Printing of "Gagarin BT is the largest of its type in the Balkans. The proposed services are deep seal on cardboard and paper, offset printing on paper, cardboard and paper METALLIZED and fleksopechat. At the beginning of the year the company withdraw the loan from First Investment Bank amounting to 1,526 million euro, which is used to buy a new machine. The loan is due on 25 June. After privatization at the end of 2006 in the company made investments worth approximately 12 million euro and the investment program provides for the purchase of new machinery, reconstruction of buildings and implementation of an integrated management system business ERP. During the first quarter were put into service lepachna machine obrashtach on pallets and sushilna section, the three totalling 2.4 million BGL
Major stock indices 63.25 million BGL 69 euro market capitalisation The stock price at 16 euro yuni35.77 minimum price per share for the last 52 sedmitsi126.60 euro maximum price per share for the past 52 weeks
Swot
Strengths
Good machine equipment
Management involvement in the development of the company after its privatization
Certificate of quality ISO 9001:2000
Weaknesses
Dear investment programme
Low diversification of client base
Possibilities
Attracting new customers
Development of production that is not tied to cigarette industry
Risks
Much of the marketed production depends on Bulgartabac Holding
The high excise duties on cigarettes may reduce orders due to a decline in sales Source: Dnevnik (17.06.2008) |
| | Trade on the Bulgarian Stock Exchange (BSE) managed to reverse the trend of Tuesday and indexes went into a positive direction. Total turnover reached almost BGN 8 million. The blue-chip Sofix increased by 1.46% to 1,206 points. The broader BG40 of the most traded stocks edged up by 0.53% to 327.74 points. BGTR30 of the best performers in total return rose slightly by 0.02% to 806.10 points. The only index to decrease was BGREIT of real estate investment trusts: by 0.78% to 95.35 points. Kremikovtzi was among the winners with a 14.82-percent rise in shares to an average price of BGN 3.12. Metizi suffered a fall by 25.76% to an average of BGN 1.70. Source: Pari (19.06.2008) |
| | Bulgaria's First Investment Bank (FIBank) received a syndicated loan of EUR 65 million from 11 leading international banks. The loan is managed by ABN Amro and Bayerische Landesbank, which owns Bulgaria's MKB Unionbank. The syndicated loan has a one-year term with an extension option and is provided for the purposes of general and commercial financing. The securing of financing is a clear sign of trust in FIBank's professionalism on the part of the institution's international partners. Source: Pari (19.06.2008) |
| | First Investment Bank (FIBank) extensively expands its branch office network in Sofia and Bulgaria. Since the beginning of 2008 the bank has opened 16 new branch offices. 9 of them are in Sofia and the rest are in Bansko, Razlog, Botevgrad, Plovdiv, Stara Zagora, Yambol and Mezdra. The new central office in Rousse, which moved to 11 Rayko Daskalov Str., will be opened on July 3. In July a new office would be opened in Rousse making te number of branches in the city 5. Currently the lender has 134 branch offices in Bulgaria, one in Cypress and a subsidiary bank FIBank Albania. Source: Insurance.bg (02.07.2008) |
| | Raiffeisenbank is the winner of this year's Bank of the Year award, bestowed by the Pari daily. Thus, the financial institution received the most prestigious prize in Bulgaria's banking sector for the third time in its history. The honourary awards committee announced the official results several hours before the prizes were bestowed. The other prizes were received by Piraeus Bank, for development dynamics, the United Bulgarian Bank, for efficiency, UniCredit Bulbank, for market share, and Corporate Commercial Bank (CCB) won the Clients' Award. This year, the committee is headed by minister of finance Plamen Oresharski. The other members are distinguished state officials, businessmen, and various representatives of state and economy. The ranking has been made on the basis of banks' financial indicators, published on the website of the Bulgarian National Bank. Only seven banks can boast the Bank of the Year award. These are: Raiffeisenbank, DSK Bank, Bank of Agricultural Credit, Postbank, Bulbank, First Investment Bank and United Bulgarian Bank. Raiffeisenbank was the only one of them to win the award three times, while Postbank, DSK Bank, and the Bank of Agricultural Credit were distinguished two times. The other highly valued prize is the Clients' Award. First Investment Bank is the all-time favourite of customers, having won the prize three times: in 2002, 2003 and 2006. Corporate Commercial Bank has won the award for the first time. Source: Pari (04.07.2008) |
| | All four indexes of the Bulgarian Stock Exchange (BSE) declined during the Monday session. The blue-chip Sofix dipped by 0.25% to 1,111.93 points. The broader BG40 of the most traded stocks lost 0.40% to 295.84 points. BGREIT of real estate investment trusts edged down by 0.04% to 94.61 points. BGTR30 of the best performers in total return dropped by 0.16% to 754.06 points. OTsK shares decreased by 9.58% to an average of BGN 28.11 per share. Shares of Central Cooperative Bank gained 2.28% to BGN 4.71. Source: Pari (08.07.2008) |
| | Indexes on the Bulgarian Stock Exchange (BSE) decreased once again in the conditions of a low turnover of BGN 2.6 million. The blue-chip Sofix broke a record after it returned to levels of two years ago. The index lost 1.02% to 1,100.63 points. The broader BG40 of the most traded stocks sunk by 1.80% to 290.52 points. BGTR30 of the best performers in total return dipped by 0.83% to 747.80 points. BGREIT of real estate investment trusts edged down 0.60% to 94.04 points. Blagoevgrad BT raised the price of its shares by 5.56% to an average of BGN 90. Sopharma shares decreased by 17.62% to BGN 1.15. Source: Pari (09.07.2008) |
| | The leading indexes on the Bulgarian Stock Exchange (BSE) headed in an upward direction. The blue-chip Sofix edged up by 0.04% to 1,101.04 points. The broader BG40 of the most traded stocks added 1.49% to 294.84 points. By contrast, BGREIT of real estate investment trusts lost 1.11% to 93 points, while BGTR30 of the best performers in total return dipped by 0.15% to 746.69 points. Investors raised the total turnover to BGN 8.5 million, up almost BGN 6 million from Tuesday. Shares of Balgarska Roza-Sevtopolis rose by 3.19% to an average of BGN 1.98. Katex lost 8.75%, slumping to BGN 7.30. Source: Pari (10.07.2008) |
| | Changes in regulations on short sales and margin trade that will enter into force on August 13 will hardly accelerate the process of launching those types of deals on the Bulgarian Stock Exchange (BSE). The new legislation may even have the opposite effect, because the number of companies that are able to meet the requirements is decreasing, an analysis by the Pari daily showed. After the new rules enter into force, only a few new companies will cover the criteria for the new types of trade. Source: Pari (11.07.2008) |
| | First Investment Bank, BSE code - 5F4, the General Meeting of which was held in July 14 2008, shall not distribute dividends for 2007. First Investment Bank reported a profit to the amount of BGN 50 065 000. Source: Capital market (16.07.2008) |
| | First Investment Bank JSC arranged a 5-year credit line of EUR 10 mln from the Germany-based investment bank KfW. The Bulgarian bank would use the money for financing small and medium businesses in Bulgaria. The line was granted by KfW after a detailed financial inspection of FIBank and after an approval by European Commission. The credit line is also financed by the Council of Europe Development Bank. The maximum credit granted from the credit line to small and medium enterprises would be EUR 250,000. Source: Insurance.bg (16.07.2008) |
| | Bulgarian banking system reported BGN 728.5 mln profit for the first half-year of 2008, according to BNB. This is BGN 238.19 mln or 48.57% more compared to H12007. The three biggest banks report profit over BGN 100 mln. Unicredit Bulbank has BGN 154.8 mln profit, DSK and UBB profits are BGN 117.8 mln and BGN 112.3 mln respectfully. Raiffeisenbank earned BGN 81.3 mln, Eurobank EFG BGN 42.09 mln and Piraeus Bank BGN 34.5 mln. Only two banks reported loss for the period - Emporiki Bank and Alpha Bank. Source: Standart (01.08.2008) |
| | Margin purchases and short sales will be made available in the COBOS trading system on the Bulgarian Stock Exchange from August 14. On that date, amendments to the Ordinance 16 of the Financial Supervision Commission will enter into force. The ordinance stipulates the rules and conditions for carrying out margin purchases, short sales and securities lending. In order to be eligible for those types of deals, the shares of a company must have been traded during 15 out of the latest 20 sessions on a regulated market. Source: Pari (06.08.2008) |
| | The blue-chip index Sofix once again dropped below 1,000 points in Thursday's session, but closed at 1,003.89, down by 0.21%. The broader BG40 of the most traded stocks increased by 1.26% to 254.49 points. BGREIT of real estate investment trusts gained 0.59% to 89.27 points. BGTR30 of the best performers in total return rose by 0.26% to 661.81 points. Sv. Sv. Konstantin & Elena headed the list of losers, parting with 18.37% to BGN 20 per share. With only one share traded, Transstroy-AM gained 23.46% to BGN 100. Source: Pari (08.08.2008) |
| | The leading blue-chip Sofix started with a rise of 1.37% to 1022.32 points. The broad BG40 of the most traded stocks gained 0.92% to 257.23 points. BGTR30 of the best performers in total return started upwards with 0.68% while BGREIT of real estate investments trusts dropped with0.68%. The mood at the Bulgarian Stock Exchange was optimistic despite the total turnover of BGN 2.5 million. Source: Pari (12.08.2008) |
| | The blue-chip Sofix rose by 0.24% to 1033.94 points, followed by BGREIT of real estate investment trusts which increased by 0.36% to 88.56 points. The broad BG40 of the most traded stocks lost 1.59% to 257.38 points. The companies in BGTR30 of the best performers in total return dipped by 0.10% to 677.03 points. The total turnover on the third day of the week at BSE was under BGN 3 million. Source: Pari (14.08.2008) |
| | Only BGREIT of real estate investment trusts, that was the only loser at the start of the day, ended by gaining 0.13% to 87.68 points. The blue-chip Sofix decreased by 0.46 to 1020.81 points. The broad BG40 of the most traded stocks lost 0.43% to 251.25 points. BGTR30 of the best performers in total return dropped by 0.51% to 660.77 points. The total turnover was BGN 3.78 million and the market capitalisation reached BGN 20.2 billion. Source: Pari (26.08.2008) |
| | The indexes at the stock exchange changed their direction. BGREIT of real estate investment trusts increased by 0.51% to 86.53 basis points. The blue-chip Sofix rose by 0.32% to 1020.31 points. BGTR30 of the best performers in total return also gained 0.41% to 661.12 points. The borad BG40 of the most traded stocks remained red and lost 0.07% to 250.69 points. The daily total turnover set a record of BGN 47.28 million. Source: Pari (28.08.2008) |
| | Three of the indexes ended the day in green. BGTR30 of the best performers in total return and the broad BG40 of the most traded stocks grew by 0.25% to 664.45 points and 0.22% to 251.24 points respectively. BGREIT of real estate investment trusts rose slightly by 0.06% to 86.51 points. Sofix started with a rise but ended with a dip of 0.28% to 1027.99 points. BACB was the leader in number of sales. Source: Pari (01.09.2008) |
| | Three out of the four indexes on the stock exchange started the week with a rise. The blue-chip Sofix had the highest jump by 0.87% to 986.34 points. BGTR30 of the best performers in total return rose by 0.86% to 644.16 basis points and the broad BG40 of the most traded stocks added 0.61% to 238.51 points. BGREIT of real estate investment trusts was the only one with a drop of 0.20% to 85.35 points. The total turnover was BGN 3.18 million. Source: Pari (09.09.2008) |
| | The blue-chip Sofix is a step under 1,000 points though it rose by 0.33% to 989.55 basis points. The broad BG40 excelled with the highest jump of 1.71% to 242.58 points. BGREIT of real estate investment trusts and BGTR30 of the best performers in total return also followed the green tendency and increased by 0.26% and 0.97% respectively. The first one closed the session at 85.57 points, the former at 650.41 basis points. Source: Pari (10.09.2008) |
| | Yesterday's trade was the worst in the history of real estate indexes. BGREIT of real estate investment trusts reached the lowest level ever and closed down at 84.92 points after losing 0.76%. BGTR30 of the best performers in total return dipped by 0.83% to 644.99 points. The broad BG40 of the most traded stocks fell by 0.75% to 240.76 basis points. The blue-chip Sofix ended 0.34% down at 986.22 points. Source: Pari (11.09.2008) |
| | Bulgarias blue-chip SOFIX plummeted to another two-year low on Thursday closing more than 2.0 pct lower at 966 points with only two of its components moving north. The broader BG40 was the second biggest loser shedding nearly 2.0 pct to 236 points. The other market indicators also closed in the red. The turnover failed to reach the 2.5 mln levs benchmark and the market capitalisation contracted to 19.77 bln levs. It was another tough session. Its highly probable that the drop will continue on Friday, commented Dimitar Georgiev, broker at Elana Trading. He forecast trading in the coming days will be swayed by various factors including the sentiments on the global markets. The expected deals with the new stocks of Holding Patishta may weigh further on SOFIX although the starting date has not been set yet, Georgiev added. The official marker saw no gainers on Thursday and drug maker Sopharma was the only one reign in its share price flat. Business conglomerate Chimimport and Petrol, Bulgaria's biggest fuel retailer, sank more than 4.0 pct. First Investment Bank and agricultural conglomerate Zarneni Hrani Bulgaria were the most liquid companies for a second day in a row. The downturn on the Bulgarian Stock Exchange coincided with murky global markets. Nearly all Asian and west European indices finished in negative territory and the bearish wave was expected to spill over to Wall Street. Source: Dnevnik (12.09.2008) |
| | Chimimport Public Holding was the most traded and the most liquid company on the stock exchange in August, the monthly bulletin of BSE and analysis of Pari Daily show. For that period the company transferred 6.04 million shares. Two other institutions occupy the second and third place in relation to number of shares sold: First Investment Bank with 703,400 and Central Cooperative Bank with 286,000. Source: Pari (15.09.2008) |
| | First Investment Bank (FIB), the largest locally-owned lender on the market, posted a 16.2 pct rise in its non-consolidated profit for the seven months to July 2008 compared to the same period last year, shows the financial report filed with www.X3news.bg. FIBs profit stood at 27.25 mln levs, adding some 13 pct on the month. The deposit portfolio swelled to 2.9 bln levs, up 6.4 pct year-on-year and 4.9 pct month-on-month. The loan portfolio widened 15.86 pct on the year to 4.12 bln levs, just about last months figure. Source: Dnevnik (15.09.2008) |
| | The crisis on the world capital markets affected Bulgarian stock exchange, too. Over BGN 300 million were wiped off from its capitalisation only for a day reaching BGN 19.2 billion. Most of the liquid companies went for sale. The high spread up to 10% of leading shares in yesterday's trade, which is a rare phenomenon, reveals the panic on the market. The effects are felt most strongly by holding companies and financial institutions. Source: Pari (16.09.2008) |
| | After a week of downturn, the blue-chip Sofix rose by 0.66% to 891.27 basis points. The broad BG40 of the most traded stocks dipped by 2.89% to 207.33 basis points reaching the limit of 200 points. BGREIT of real estate investment trusts fell by 0.43% to 83.05 points and the loss of BGTR30 of the best performers in the total return was 0.53% to 580.41 points. The deals amounted to over BGN 5.3 million. Source: Pari (18.09.2008) |
| | Moody's, one of the biggest rating agencies in the world, announced its decision to keep the long-term rating of First Investment Bank (FIB) after having kept it under observation for four months. The bank now has assessment for financial stability D and long-term rating Ba1for deposits in local and foreign currency. By the end of July the assets of FIB were BGN 4.1 billion and the profit for the same period was BGN 27.3 million. Source: Pari (18.09.2008) |
| | Fitch Ratings revised First Investment Bank's (FIBank) outlook to negative from stable and affirmed its other ratings at Long-term Issuer Default (IDR) 'BB-' (BB minus), Short-term IDR 'B', Individual 'D', Support '5' and Support Rating Floor 'No Floor'. The outlook change reflects the challenges that FIBank is facing in the current market environment in terms of attracting new long-term funding and capital at an acceptable cost and refinancing its existing obligations in full. As a result, FIBank's prospects in terms of both profitability and market share could well be negatively impacted. Source: Dnevnik (23.09.2008) |
| | Tomorrow the stocks of First Investment Bank (FIB) will move from the unofficial market, segment A to the official market, segment B, the company announced. The Bulgarian stock exchange is going to examine closely the position for three months. FIB has met all requirements for trade on a higher official market on BSE. Source: Pari (29.09.2008) |
| | Plovdiv Yuri Gagarin BT JSC has signed a loan contract with First Investment Bank JSC for EUR 1.5 million. The funds will be used for working capital needs to implement the development program of the company. The term loan is 3 years and has a rate equal to the basic interest rate plus a margin of 3.41 percent. The loan is secured with registered pledge on fixed tangible assets of the company. Since the privatization of the company in 2006, the new management has carried out a restructuring of the business of Plovdiv Yuri Gagarin BT regarding sale and closing of low-effective assets and productions. Source: Monitor (02.10.2008) |
| | Bulgarian operator MobilTel won the prize for corporate responsible company (CRC) of the year at the national competition organized by Pari Daily in cooperation with the Ministry of Labour and Social Policy, Corporate Social Responsibility Association Partnership, United Nations Development Programme and Association of Industrial Capital in Bulgaria. The prize was handed to M-tels financial director Plamen Petrov by the publisher of Pari Daily and chairman of the jury Valentin Panayotov. We took part in the competition but do not look on it as a contest. All participating companies have declared their responsibility to society. Mobiltel has been working in this field since its foundation and our behaviour so far proves it, Plamen Petrov, financial director of Mobiltel, said. The prize for Corporate responsibility towards staff was given to First Investment Bank, for Ethical attitude towards clients to Roca Bulgaria. TNT Bulgaria was honoured for Loyalty towards partners and clients and bTV took the prize for Socially responsible media. Altogether 250 companies were invited to participate in the first competition of the kind. Over 60 applied and 13 of them were nominated for prizes. The event was carried out in three steps. The methodology of Deloitte for assessing the participants was used, which has great success in several European countries. Source: Pari (02.10.2008) |
| | For most investors in Europe, the salvation plan turned into an evacuation. A new tornado swept the capital market in the world and absorbed capitalization worth billions of euros. The leading blue-chip Sofix collapsed by 8.4% to 688 points. This is the second lowest drop of an index on the European stock markets. The most affected are the banks and the insurance companies, experts comment. Source: Pari (07.10.2008) |
| | Transactions with bank shares formed 79.6% of the total turnover on Bulgarian stock exchange (BSE) yesterday amounting to BGN 13.08 million from the overall BGN 16.44 million on BSE. Foreign investors are trying by all means to get rid of their bank assets in the country, experts commented for Pari Daily. There are also customers who think the present-day price is very attractive for buying. Source: Pari (09.10.2008) |
| | Trade of BSE was under the green flag of the bulls. The broad BG40 of the most traded stocks rose by 4.19% to 158.58 basis points. The blue-chip Sofix grew by 2.63% go 600.80 points. BGREIT of real estate investment trusts finished 0.37% higher to 63.07. BGTR30 of the best performers in total return followed the tendency and gained 10.78 points to 414.70. The total turnover was a little over BGN 2.28 million. Source: Pari (14.10.2008) |
| | The indexes were not able to keep the optimistic mood from the beginning of the week. The blue-chip Sofix dipped by 0.74% to 641.46 basis points. The broad BG40 of the most traded stocks dropped by 1.25% to 168.92 points. BGTR30 of the best performers in total return lost 1/06% to 437.83 points. BGREIT was the only one to rise at the last moment by 0.56% to 64.61 points. The total turnover was BGN 4.82 million and market capitalisation of BSE is BGN 14.814 billion. Source: Pari (16.10.2008) |
| | Three of the indexes on Bulgarian stock exchange closed with a rise on Friday. The blue-chip Sofix added almost 11points and ended at 618.46 basis points. The broad BG40 of the most traded stocks and BGTR30 of the best performers in total return increased by 2.97 to 166.52 points and 2.34% to 429.06 points respectively. BGREIT of real estate investment trusts lost 2 points to 62.60. The total turnover was over BGN 8.63 million. Source: Pari (20.10.2008) |
| | UK-registered Balkan Holidays has sold its 6.72% stake in First Investment Bank, the lender said in a filing with the Bulgarian Stock Exchange, where it is listed. The British company divvied up 7,390,000 stocks in FIBank for BGN 1.052 apiece among current shareholders Rafaela Consultants and Domenico Ventures. Balkan Holidays bought into FIBank last year from First Financila Brokerage House for BGN 1.0 a share. The banks stocks rose 5.1% to some BGN 3.88 on Friday, a 69% slide from a year ago. FIBank was Bulgarias sixth largest lender with BGN 4.069 billion in assets and a 6.2% market share as at June 2008, under central bank statistics. Source: Dnevnik (20.10.2008) |
| | . Sofix 0.78% 623.26 . BGREIT 1.41%, 63.48 . BGTR30 0.42% 430.86 . BG40 0.73% 165.30 . - . 300 691 2.30 . 0.66% . , 173 192 . 0.57% 3.90 . 1462.50% 15 . 3 . 1.97 . 40.72%. - . 10 , 1 , 9900%, 0.01 . - . 20.80% 4.12 . 9.847 . ., 14.702 . . Source: Pari (21.10.2008) |
| | Only for a day the blue-chip Sofix lost the positions it gained the previous three days. The bears bit 5.08% from it to 604.97 points. The other indexes followed the tendency. BGREIT of real estate investment trusts dipped the least by 2.10% to 61.42 basis points. The broad BG40 of the most traded stocks lost 2.60% to 161.28 points and BGTR30 of the best performers in total return dropped by 4% to 421.44 points. Source: Pari (23.10.2008) |
| | T he yet another difficult week on the capital market reduced the optimists two times, Pari daily's regular Bullish Bearish Sentiment (BBS) inquiry showed. A total of 27% of those asked expect a rise in Sofix, last month the percentage was two times higher. The same per cent have pessimistic expectations against 16% a week ago. Almost 46% of the professional investors think the blue-chip index will stay flat. Source: Pari (27.10.2008) |
| | Balkan Trade House breaks ground on EUR 10m multi-task complex in Pazardjik
Balkan Trade House, the local architecture and engineering consultancy, will spend EUR 10 million to build a multi-task complex in the southern town of Pazardjik, said Filip Tsanov, who advises the project. The Fountains complex will be funded by a tailor-made mortgage product by First Investment Bank. It will sprawl on 3.4 hectares and comprise 22 four-storey blocks of flats, a swimming pool, sports facilities, childrens playgrounds, a kindergarten, a restaurant and an administrative centre. The first batch of 12 blocks is due for completion within a year, and the whole complex should be finished by the spring of 2011. The investor said apartments will sell from EUR 550 per square metre and have already drawn potential buyers. The complex will have a floor space of 32,000 sq m with most flats ranging from 82 to 95 sq m. Source: Dnevnik (28.10.2008) |
| | Of all companies with initial public offering (IPO) in 2007 only Corporate Commercial Bank (CCB) has been traded above the levels of IPO, analysis of Pari daily shows. In 2007 CCB offered the investors 1 million shares at BGN 58.50 and on October 27 2008 the price was BGN 65.63. The low liquidity of the bank at present, the strong support and the attractive price of the auction are the main factors to keep the prices at these levels. Source: Pari (29.10.2008) |
| | Pessimism continued to dictate the trade on BSE on the last day of the week. For the first time since June 2004, the blue-chip Sofix came down below 500 points after losing 1.93%. The broad BG40 of the most traded stocks dripped by 3.03% and BGTR of the best performers in total return dropped by 2.10%. BGREIT of real estate investment trusts was the only one to gain 3.72%. The turnover was over BGN 6 million. Source: Pari (03.11.2008) |
| | The leading blue-chip Sofix ended down by 1% to 467.83 points. BGREIT of real estate investment trusts dropped by 0.17% to 53.45. The broad BG40 of the most traded stocks registered rise of 1.57% to 142.77. BGTR30 of the best performers in total return gained 0.01 basis points to 354.72. The total turnover was BGN 3.62 million, of which 34% were deals of companies with special investment purposes. Source: Pari (10.11.2008) |
| | The last day of the week ended in optimism for the three of the indexes. The blue-chip Sofix added 4.83% to 334.46 points. The broad BG40 of the most traded stocks appreciated by 8.50% and closed by 0.34 points above the level of its foundation. BGTR30 of the best performers in total return was the third to rise by 5.32% to 267.11 points. Only BGREIT of real estate investment trusts dipped to 46.39 basis points. Source: Pari (24.11.2008) |
| | First Investment Bank (FIB) reports an increased interest in the credit line it offers to small and mediums-sized enterprises. The contract for the credit was signed in July 2008 with the KfM German investment bank with the approval of European Commission for the amount of EUR 10 million. The credit line is financed also by Bank of Development in the EU. The credit cannot exceed EUR 250,000. Source: Pari (26.11.2008) |
| | The blue-chip Sofix dipped by 0.66% to 372.20 basis points. The broad BG40 of the most traded stocks rose by 0.99% to 111.45 basis points. BGREIT of real estate investment trusts added 0.83% to 47.12 points. BGTR30 of the best performers in total return fell by 0.39% to 283.07 basis points. Total turnover was BGN 1.397 million and market capitalisation lost BGN 142 million to BGN 12.379 billion. Source: Pari (11.12.2008) |