First Investment Bank (FIBank) — Bulgaria

First Investment Bank (FIBank) — Bulgaria

Brief history and founding

First Investment Bank (commonly branded as FIBank) was established in the early 1990s in the aftermath of Bulgaria's transition to a market economy. Headquartered in Sofia, the bank expanded over subsequent decades from a small private institution to a full-service universal bank serving retail customers, small and medium enterprises (SMEs), and corporate clients. Over time FIBank built a nationwide branch and ATM network and developed a suite of digital channels to complement its physical presence.

Type of bank

FIBank is a universal bank that operates across several banking segments. Its core operations include:

• Retail banking: deposit accounts, payment cards, consumer lending and mortgages
• Corporate and commercial banking: business accounts, working capital financing, trade finance and corporate lending
• Investment and treasury services: securities dealing, advisory and treasury operations
• Private and wealth management services for higher-net-worth clients

In other words, FIBank combines retail, commercial and investment-style services within a single banking group structure.

Key services offered

FIBank provides a broad range of financial products tailored to individuals, businesses and institutions. Key services include:

• Personal banking

  • Current (checking) and savings accounts in BGN, EUR and other currencies
  • Payment and debit cards (Visa, Mastercard) and prepaid card options
  • Consumer loans and personal installment products
  • Mortgage loans for residential property purchases and refinancing
  • Online and mobile banking platforms, remote account management and e-payments
  • Deposits and term deposit products

• Business and corporate banking

  • Business accounts and cash-management solutions
  • Working capital loans, overdrafts and term financing
  • Investment and project financing, including for SMEs
  • Trade finance: letters of credit, guarantees, collection services and import/export facilities
  • Corporate payment services, payroll and e-banking for businesses

• Investment, treasury and markets

  • Treasury services, foreign exchange and money market operations
  • Securities trading and custody services (subject to licence and scope of local operations)
  • Advisory and structuring for corporate finance needs

• Specialized services

  • Private banking and wealth management for affluent clients
  • Digital banking innovations including mobile apps, contactless payments and remote onboarding (availability may vary by customer type)

Notable features or specializations

• Universal-service footprint: FIBank offers a comprehensive product range across retail, SME and corporate markets, allowing clients to centralize multiple financial needs under one institution.
• Digital capabilities: the bank has invested in online and mobile channels to provide remote account access, card management and digital payments.
• SME and trade focus: the bank traditionally places emphasis on servicing small and medium enterprises and providing trade finance solutions to support cross-border commerce.
• Multicurrency services: accounts and lending products are commonly available in the local currency (BGN) and major foreign currencies (EUR, USD), which is useful for importers/exporters and internationally active clients.

Regulatory status and deposit protection

FIBank operates under the supervision of the Bulgarian National Bank (BNB), which is the national banking regulator and tasked with prudential supervision and financial stability oversight. As a Bulgarian credit institution, the bank must comply with national law and applicable European Union banking and financial regulations.

Deposit protection in Bulgaria is provided by the Bulgarian Deposit Insurance Fund (BDIF). Deposits held by natural persons and certain legal entities are insured up to the standard EU limit of EUR 100,000 (or equivalent in another currency) per depositor, per bank. Clients with higher deposit volumes or complex structures should consult the bank and BDIF rules for aggregation and special cases (for example, temporary high balances related to real estate transactions or corporate arrangements).

How to open an account (general overview)

Opening an account with FIBank follows standard procedures for Bulgaria and typically involves the following steps:

1. Choose account type: decide whether you need a personal current account, savings account or a business/corporate account.
2. Prepare documentation: commonly required documents include a valid identity document (Bulgarian ID card or foreign passport), proof of address (utility bill or similar), Bulgarian tax identification number (for residents) or equivalent for non-residents, and documents evidencing the purpose of the account or source of funds when required.
3. Visit a branch or apply online: FIBank offers in-branch onboarding; in many cases new retail customers can begin the process through the bank’s online portal or mobile app, subject to verification rules and electronic identification availability.
4. Complete KYC and sign agreements: the bank will conduct know-your-customer (KYC) checks and anti-money laundering (AML) screening. Business accounts require company incorporation documents, company representatives’ identification and corporate resolution/authorization to open accounts.
5. Fund the account and receive cards/access credentials: after approval you will receive account details, payment card (if requested) and credentials for online and mobile banking.

Non-resident customers should check specific requirements and whether in-person verification is mandatory. Account opening requirements and turnaround times can vary depending on the product, customer risk profile and regulatory checks.

Contact information and website

• Official website: https://www.fibank.bg (English-language sections are typically available for international customers)
• Head office: Sofia, Bulgaria (address details and branch locations are listed on the official website)

For the most accurate and up-to-date information on products, fees, branch locations, and account-opening procedures, consult FIBank’s official website or contact a local branch directly. Regulatory disclosures, terms and conditions, and deposit-protection details are also published by the bank and by the Bulgarian National Bank/BDIF.

Note: This article provides an informational overview and does not substitute professional advice. Product availability, terms and regulatory arrangements can change; always verify current details with the bank or relevant supervisory authority.