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CIBank EAD (Bulgaria)

Main Activities: Commercial Banking
Full name: CIBank EAD Profile Updated: March 02, 2018
Buy our report for this company USD 19.99 Most recent financial data: 2017 Available in: English & Bulgarian Download a sample report

Bulgarian commercial bank CiBank provides full range of banking and financial services and products for individuals, corporate clients and SMEs. The lender operates through a network of more than 100 branches and offices throughout the country. Bulgarian Economic and Investment Bank (EIBank) is a successor of the Bulgarian-Russian Investment Bank. The private Bulgarian-Russian Investment Bank was founded in 1994 by 14 Bulgarian, seven Russian banks as well as several companies operating in various industries.
In June 1998, BRIBank listed its first issue of one million shares with face value of BGN 10,000 each on the official floor of the Bulgarian Stock Exchange. In June 2000, BRIBank acquired the state Economic Bank, which was declared insolvent in 1997, for the token price of BGN 1.0. In September 2000, the bank changed its name to Economic and Investment Bank to reflect the acquisition of Economic Bank.
In January 2006, Icelandic tycoon Thor Bjorgolfsson purchased 18.72% of the lender via a Luxembourg-based company for EUR 24.8 million. Two months later, the Icelandic businessman raised his stake in EIBank equity to 34% through a capital hike. Bjorgolfsson bought additional 14.63% in the bank, bringing his stake to 48.63%, in February 2007. In late September 2007, Belgian bank and insurer KBC Group bought 75% in EIBank for EUR 295 million from Novator Finance Bulgaria which held 48.63% in the lender and local businessman Svetoslav Bozhilov who held 24.3%. Shareholder Tsvetelina Karagyozova retained a 22.3% in the bank and became KBC's partner in Bulgarian banking activities. In March 2008, KBC acquired additional 0.33% in EIBank in a buyout bid. In December 2010, Tsvetelina Borislavova Karagiozova sold her 16% stake in CIBank to KBC for BGN 141.07 million and thus the Belgian financial group acquired full control of the bank and it was delisted from the local stock exchange.

Headquarters
89B Vitosha
Sofia; Sofia - city; Postal Code: 1612

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Website: http://www.cibank.bg

Basic Information
Total Employees:
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Outstanding Shares:
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Registered Capital:
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Financial Auditors:
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Incorporation Date:
March 08, 1995
Key Executives
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
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Executive Director and Member of the Management Board
Ownership Details
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100%
Subsidiaries
Shumen Tabac AD
5.47%
Generali Zakrila Health Insurance AD
0.4%
Company Performance
Financial values in the chart are available after CIBank EAD report is purchased.
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Key Financial Highlights
Annual growth percentages for latest two years in local currency BGN. Absolute financial data is included in the purchased report.
Net interest income
0.69%
Net fee and commission income
5.85%
Operating profit (EBIT)
10.43%
Net Profit (Loss) for the Period
-4.3%
Total assets
16.68%
Loans and advances to customers
22.9%
Total equity
15.77%
Total Assets Trend
1.24%
Net Interest Income Trend
-4.65%
Cost to Income Ratio
-2.02%
Loans to Deposits Ratio
4.32%
Loans to Asset Ratio
3.79%

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