First
Investment Bank (Fibank) is a dynamic and fast-growing commercial bank with Bulgarian roots and innovation and customer orientation as its core drivers. It is not a state-owned or joint-venture bank, but a 100% privatized commercial bank, demonstrating a flexible and market-oriented style of operation.
Name & Background
full name: First Investment Bank AD (Bulgarian: Първа инвестиционна банка, Parva investitsionna banka）。
Founded: October 8, 1993 by founders Tseko Minev and Ivaylo Mutafchiev, who previously successfully operated First Financial Brokerage House.
Headquartered in Sofia, Bulgaria, a city full of history and modernity, Fibank has a solid base for its operations.
Shareholder background: Fibank is a public company, registered in the Commercial Register of the Sofia Municipal Court and registered as a public company with the Bulgarian Financial Supervision Commission. The main shareholders are Tseko Minev and Ivaylo Mutafchiev, who jointly hold 42.5% of the shares as of August 2018, and the remaining shares are held by other investors, reflecting the characteristics of private capital.
Service Coverage
Coverage area: Extensive layout in Bulgaria, as well as in Albania (10 outlets), With branches in Cyprus (1 branch) and North Macedonia (through its subsidiary UNIBank), the ambitions of a regional financial group are demonstrated.
Number of offline outlets: 21 branches and 68 offices in Bulgaria, covering both urban and rural areas, serving 380,000 individual customers and 21,000 corporate customers.
ATM distribution: Fibank has a dense ATM network in Bulgaria and supports free cash withdrawals (using Fibank's own ATMs) to provide customers with convenient cash services.
Regulatory & Compliance
Regulated: Fibank is authorised and supervised by the Bulgarian National Bank (BNB) and holds a full banking license, All banking transactions permitted by Bulgarian law can be carried out.
Deposit Insurance: Fibank participates in the Bulgarian Deposit Insurance Fund (BDIF), which provides deposit protection of up to €100,000 per depositor, covering individual and corporate accounts, increasing customer confidence.
Compliance Record: Fibank maintains a good compliance record and has not seen any recent major violations or penalties, demonstrating its robust operations under the regulatory framework.
Financial healthFibank
demonstrated solid financial performance in 2024, ranking as the fifth largest bank in Bulgaria with a market share of 8.22%.
key indicators:
Capital adequacy ratio: in line with EU capital requirements (CRR), through issuance of 11% Perpetual bonds enhance Tier 1 capital and enhance risk resistance.
Non-performing loan ratio: No specific data is disclosed, but the loan-to-deposit ratio (L/D ratio) is 63.57%, indicating prudent credit management.
Liquidity Coverage Ratio: Liquidity remains ample to support day-to-day operations and emergent demand, thanks to bond financing and deposit growth.
Overall Assessment: Fibank is in good financial health, with a growth rate of 13.47% in assets, a return on assets (ROA) of 0.84% and a return on equity (ROE) of 8.08% in 2024, showing a solid performance in the industry.
Deposit & Loan Products
deposit class:
Current Account: Provides flexible access to funds with an interest rate close to 0%, suitable for daily use.
Time deposits: Interest rates range from 0.00% to 0.10%, depending on the tenor and amount of deposits.
Featured products: Fibank launched a high-yield savings account for customers looking for stable returns; Large certificates of deposit (time deposit accounts) offer slightly higher interest rates but are less liquid.
Loans:
Mortgages: Offer fixed and variable interest rate options, including stable income and credit assessment, suitable for first-time home buyers and investors.
Car loans: Loans with competitive interest rates and flexible tenors cover both new and used car purchases.
Personal Line of Credit: Unsecured loans, the interest rate fluctuates according to the credit score, the approval is fast, and it is suitable for emergency funding needs.
Flexible repayment: Fibank supports early repayment and adjustment of repayment plan to reduce customer stress, but it may involve a small handling fee.
List of common expenses
Account management fee: Some accounts charge a monthly card maintenance fee of BGN 5, and monthly fees may be waived for current accounts (subject to minimum balance requirements).
Transfer fee: Domestic transfer fees are low, and cross-border transfer fees fluctuate according to the amount and destination, so it is recommended to use online banking to reduce costs.
Overdraft Fees: Overdrawn accounts are subject to additional interest, depending on the account type.
ATM inter-bank withdrawal fee: It is free to use Fibank's own ATM, and inter-bank or international withdrawals may be subject to a fee of 1-2%.
Hidden Fee Warning: Some accounts require a minimum balance (e.g. 500 leva), otherwise penalties may be deducted; Early withdrawal of time deposits may result in a loss of interest.
Digital service experience
APP & Online Banking: Fibank's mobile app and online banking are well received, with a rating of about 4.0 on App Store and Google Play/ 5. Reflect the user's recognition of its convenience.
Core features: Support face recognition login, real-time transfers, bill management, and portfolio tracking, with an intuitive interface for young users.
Technological innovation: Fibank introduces AI-driven customer service chatbots to provide 24/7 basic support; Robo-advisory tools to help clients optimize their investments; The Open Banking API supports third-party fintech integration, demonstrating technological foresight.
Customer Service Quality
Service channels: 24/7 telephone hotline (+359 2 818 1818), live chat and social media support (LinkedIn, Facebook), The response is fast, usually within a few minutes.
Complaint handling: The complaint rate is low, the average resolution time is about 3-5 working days, and the user satisfaction is high (based on industry award feedback).
Multi-language support: Mainly support Bulgarian and English, some branches provide Russian and Albanian services, suitable for cross-border customers.
Security measures
security of funds: deposits are protected by BDIF (up to €100,000); Real-time transaction monitoring and anti-fraud systems effectively reduce the risk of fraud.
Data security: Fibank is ISO 27001 certified for information security and uses reCAPTCHA and X-XSS-Protection technologies to protect user data.
Featured Services & Differentiation
market segments:
Student account: No management fee, low threshold, comes with a free debit card, suitable for younger customers.
Exclusive wealth management for the elderly: provide high-yield fixed deposits and low-risk investment portfolios, and pay attention to the needs of the elderly.
Green Finance: Launch of accounts that support green investments (e.g. ProGreen Inspiration) and funds are used for environmental projects.
High Net Worth Services: Fibank's private banking services are aimed at high net worth clients, offering customized wealth management and dedicated advisors, with a threshold of around €50,000.
Market Position & Accolades
Industry ranking: In 2024, Fibank is the 5th largest bank in Bulgaria (assets in size), accounting for 8.22% of the domestic market and 5th in both loans and deposits.
Awards: In July 2023, Fibank received the "Mystery Customer" award from the "Bank of the Year Association" in recognition of its excellent customer service; It has been nominated for "Best Digital Bank" and "Innovative Bank" several times, highlighting its technological advantages.
