Investbank AD with an increased long-term rating for the second time in 2021
By decision of November 2021, the Bulgarian Credit Rating Agency (BACR) increased the long-term rating of Investbank AD by one degree from B to B+, with the outlook on it again defined as "stable". The Agency also confirms the short-term rating on national scale C (BG) with a stable outlook.
Monitoring shall take into account stabilisation of financial performance, increase in capital base and capital adequacy and improvement in credit portfolio quality indicators. In the past 2020, the bank's capital base maintained a positive trend of growth, reporting an increase of 8.4% compared to the previous year. The overall assessment is that changes in the capital base and risk-weighted assets lead to an increase in the total capital adequacy of Investbank AD to 20.0% in mid-2021.
The share capital of 155 572 thousand lv. remained unchanged. In the first half of 2020 Investbank AD undertook an increase in its share capital on two occasions and an increase in its capital position. According to BACR, the Bank's 2020 plan has been overrun on most key indicators (including assets, net loans, deposits and interest income). For the same period, the volume of resources attracted by Investbank AD recorded a significant increase of 14.3% on an annual basis. This strong pace continues in the first half of 2021, when in just the six months the increase was 15.5% and almost 300 million lv.
Strong growth for the past 2020 is the result of a much greater increase in the amount of borrowing from corporate clients - by 58.2%, at a much lower growth rate (3.2%) in the case of deposits of individuals. By mid-2021, this growth is intensifying - even more in corporate deposits (28.4%), but also in individuals (8.9%) on a semi-annual basis.
The coming year 2021 can be described as a success for Investbank AD. Together with the good financial results, the bank's portfolio of products and services was also achieved.
In 2021 Investbank AD successfully implemented a number of projects related to the digital transformation process and offered its clients new innovative services such as the Ibank Mobile mobile application and a new corporate website. With the latest digital channel Ibank Mobile, users can both track the bank's products used by them, movements in accounts and card transactions, as well as order transfers in BGN and currency. The Ibank Mobile app launched this year and shortly after its launch won a third prize in the mobile innovation category at the annual B2b Media Awards.
The bank's new site has a modern design, convenient functionalities and user interface that facilitate navigation and quick access to individual menus. For easier guidance in the rich portfolio of online products is a separate product sales platform. The site: ibank.bg won first prize of the audience in the category "Corporate site" in the competition "Site of the Year". Other projects, some of which are: "fast" debit card and "fast" credit card, mobile token and others, are about to be implemented.