Fibank – 2026 Q1 Individual Results review

• Fibank’s 2026 Q1 unconsolidated net profit increased by 2.9% YoY to EUR 1m. This happened after 14.4% YoY growth in Net Interest Income to EUR 64.7m and an 18.9% decrease in Net fee and commission income to EUR 16.8m.
• The modest increase in Net Income this quarter is indicative of the dynamics of the bank in 2025 considering there are no effects from reevaluation of investments, which were likely made to offset the negative impact from the SG Group delayed repayment. That announcement happened in Q4 2024 and the bank management, over the next year, took steps to minimize the effect on that exposure to its balance sheet and its performance ratios and regulatory requirements.
• Total income from bank operations recorded an increase of 6.7% to EUR 86.6mln. Considering that the upcoming months are likely to be beneficial as interest rates are likely going to stay at current levels and the real estate market in Bulgaria does not show signs of slowing down, the bank is on the path of recording growth of this account at least at these levels, if not exceeding.
• Gross loans portfolio added 5% to EUR 4.69bn. The biggest push came from mortgages, which added EUR 235mln for an increase of 30.1% YoY to reach over EUR 1bn of total exposure. Consumer loans also increased 17% to add EUR 127mln for a total of EUR 852mln. In the same time, corporate loans increased by modest 5.9% to EUR 1.49bn for large enterprises, 5.4% to EUR 1.16 for SMEs while Microcrediting dropped by 21.2% to EUR 95.1mln. Interestingly, Large enterprises marked a marginal decrease since 2025 YE and SMEs increased by just 1% for the same period. This, together with the significant drop in Microcrediting indicates that the bank has shifted focus away from corporate lending and has pushed for retail (consumer loans and mortgages). The fears for a global recession, if materialized, might make this move a very positive for the bank. The concentration on retail lending, additionally helps them to be enjoying the highest Net Interest Margin among the top 10 banks in the country and the second largest among all, surpassed only by TBI bank – a clear retail lender.

The full report can be downloaded here.