The First Investment Bank (FIBank) ended the first nine months of the year with a net non-consolidated profit of 34.3 million leva, a 3.75 times increase compared to the same period a year ago, the bank said in a Thursday filing with the Bulgarian Stock Exchange.

As of September 30 2007, the balance sheet total stood at 3 706 million leva, an increase by 551 million leva or 17.46 per cent compared to December 31 2006.

Since the turn of the year, receivables from non-banking clients rose by 57 per cent on the year to 2.686 billion, whereas liabilities to non-banking clients were up 15 per cent on the year to 2.853 billion leva.

The bank recalled that the FIBank staged a successful IPO, opened 20 new branches and offices in Bulgaria and abroad to a total of 124 outlets.
 
During this period, the bank launched a new subsidiary – FIBank Albania. The new arm acquired on June 27 2007 a full banking licence from the local central bank and took all FIBank activities in the country as of September 1 2007.