Turns out, it doesn't always take a bulk of foreign capital for a bank in Bulgaria to be successful. Bulgarian First Investment Bank has just received a prestigious award for its international transfer activity, Straight Through Processing Excellence Award 2009 from Deutsche Bank.
First Investment Bank, or Fibank, 16 years old, is the mother bank of a financial group with branches in Albania, Cyprus and subsidiary bank UNIBank in former Yugoslav republic of Macedonia. Fibank's vision is to grow into a regional banking network servicing the business needs of the Balkans.
According to the Society for Worldwide Interbank Financial Telecommunication (SWIFT), First Investment Bank is in charge of 5.75% of outgoing and 7.39% of incoming international transfers in Bulgaria as of March 2009. SWIFT is a cooperative headquartered in Belgium that transports messages between financial institutions.
In Bulgaria the bank has almost 70 offices and over 380,000 individuals and 21,000 corporate bodies as clients. Fibank started out specializing in corporate clients, but developed a spectrum of products and services for different types of clients.