Fibank’s books unconsolidated EPS of BGN 0.33, rising 164.8% YoY (NEUTRAL)

Fibank’s Q1’25 unconsolidated results reveal total operating income of BGN 158.7m, registering 35.5% YoY growth. The main reason for the growth was the BGN 30.2m improvement of other operating income as in the comparable period Fibank booked BGN 30m loss on debt instruments. Net interest income also grew by 9.8% YoY to BGN 110.6m as well as net fees & commissions income by 8.3% YoY to BGN 40.6m. Below the TOI line, administrative expenses added 4.4% YoY and credit provisions increased 5.8% YoY.  As a result, Q1’25 net income rose 164.8% YoY to BGN 49.6m (EPS of BGN 0.33).