International Asset Bank

IAB's customer deposits rose 5.35% to BGN 1,255 mil in 2017

By Helgi Analytics - September 3, 2018

International Asset Bank's customer deposits reached BGN 1,255 mil in 2017, up 5.35% compared to the previous year. Bulgarian b...

IAB's customer loans rose 11.8% to BGN 734 mil in 2017

By Helgi Analytics - September 3, 2018

International Asset Bank's customer loans reached BGN 734 mil in 2017, up 11.8% compared to the previous year. Bulgarian bankin...

IAB's net profit fell 41.9% to BGN 6.01 mil in 2017

By Helgi Analytics - September 3, 2018

International Asset Bank made a net profit of BGN 6.01 mil under revenues of BGN 34.1 mil in 2017, up -41.9% and -8.73% respectively ...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 17.7 16.5 18.1
Fee Income (As % Of Revenues) % 23.5 38.8 46.5
Other Income BGN mil 24.4 6.39 0.160
Total Revenues BGN mil 55.0 37.4 34.1
Operating Profit BGN mil 29.9 14.4 9.86
Provisions BGN mil 24.7 2.79 3.41
Net Profit BGN mil 4.22 10.3 6.01
Balance Sheet 2015 2016 2017
Customer Loans BGN mil 691 657 734
Debt Securities BGN mil 168 79.1 80.4
Total Assets BGN mil 1,198 1,302 1,372
Shareholders' Equity BGN mil 89.7 102 106
Interbank Borrowing BGN mil 0 0 0
Customer Deposits BGN mil 1,102 1,192 1,255
Issued Debt Securities BGN mil 0 0 0
Ratios 2015 2016 2017
ROE % 4.82 10.8 5.79
ROA % 0.366 0.827 0.449
Costs (As % Of Assets) % 2.18 1.84 1.82
Costs (As % Of Income) % 45.6 61.6 71.1
Net Interest Margin % 1.53 1.32 1.35
Loans (As % Of Deposits) % 62.7 55.1 58.5
Growth Rates 2015 2016 2017
Total Revenue Growth % 84.4 -32.1 -8.73
Operating Cost Growth % 21.8 -8.22 5.35
Operating Profit Growth % 224 -52.1 -31.3
Net Profit Growth % 19.2 145 -41.9
Customer Loan Growth % 0.023 -4.96 11.8
Total Asset Growth % 8.01 8.68 5.35
Customer Deposit Growth % 7.92 8.11 5.35
Shareholders' Equity Growth % 4.94 13.4 4.09

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summary Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Net Interest Income BGN mil         8.85 11.9 9.90 14.8 17.7    
Total Revenues BGN mil         20.8 24.4 23.3 29.9 55.0    
Operating Profit BGN mil         1.95 5.91 3.60 9.24 29.9    
Net Profit BGN mil         1.87 3.19 1.06 3.54 4.22    
balance sheet                      
Customer Loans BGN mil         493 547 668 691 691    
Debt Securities BGN mil         120 108 119 154 168    
Total Assets BGN mil         717 849 972 1,109 1,198    
Shareholders' Equity BGN mil         67.4 80.9 82.0 85.5 89.7    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         647 766 887 1,022 1,102    
Issued Debt Securities BGN mil         0 0 0 0 0    
ratios                      
ROE %         2.81 4.29 1.31 4.23 4.82    
ROA %         0.280 0.407 0.117 0.341 0.366    
Costs (As % Of Assets) %         2.82 2.37 2.16 1.98 2.18    
Costs (As % Of Income) %         90.7 75.8 84.6 69.0 45.6    
Net Interest Margin %         1.32 1.52 1.09 1.42 1.53    
Interest Income (As % Of Revenues) %         42.4 48.8 42.5 49.6 32.1    
Fee Income (As % Of Revenues) %         46.7 42.1 45.8 38.6 23.5    
Equity (As % Of Assets) %         9.41 9.53 8.43 7.71 7.49    
Loans (As % Of Deposits) %         76.1 71.4 75.3 67.7 62.7    
Loans (As % Assets) %         68.7 64.4 68.8 62.3 57.7    
income statement Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                      
Interest Income BGN mil         34.3 38.2 38.6 43.3 44.3    
Interest Cost BGN mil         25.5 26.3 28.7 28.5 26.6    
Net Interest Income BGN mil         8.85 11.9 9.90 14.8 17.7    
Net Fee Income BGN mil         9.73 10.3 10.7 11.5 12.9    
Other Income BGN mil         2.26 2.22 2.73 3.51 24.4    
Total Revenues BGN mil         20.8 24.4 23.3 29.9 55.0    
Depreciation BGN mil         1.56 0.935 1.03 1.15 1.34    
Operating Cost BGN mil         18.9 18.5 19.7 20.6 25.1    
Operating Profit BGN mil         1.95 5.91 3.60 9.24 29.9    
Provisions BGN mil         -0.100 2.41 2.47 5.46 24.7    
Extra and Other Cost BGN mil         -0.102 -0.104 -0.119 -0.126 0.433    
Pre-Tax Profit BGN mil         2.15 3.61 1.25 3.91 4.76    
Tax BGN mil         0.278 0.423 0.183 0.365 0.540    
Minorities BGN mil         0 0 0 0 0    
Net Profit BGN mil         1.87 3.19 1.06 3.54 4.22    
growth rates                      
Net Interest Income Growth % ...       -47.4 34.8 -17.0 49.6 19.4    
Net Fee Income Growth % ...       9.07 5.79 3.55 8.11 12.3    
Total Revenue Growth % ...       -25.2 17.3 -4.72 28.2 84.4    
Operating Cost Growth % ...       -6.95 -1.91 6.25 4.66 21.8    
Operating Profit Growth % ...       -74.2 203 -39.1 157 224    
Pre-Tax Profit Growth % ...       -57.0 67.8 -65.4 213 21.8    
Net Profit Growth % ...       -57.6 70.1 -66.6 233 19.2    
market share                      
Market Share in Revenues %         0.530 0.640 0.628 0.765 1.33    
Market Share in Net Profit %         0.395 0.607 0.211 0.499 0.470    
balance sheet Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                      
Cash BGN mil         59.8 145 132 200 277    
Customer Loans BGN mil         493 547 668 691 691    
Debt Securities BGN mil         120 108 119 154 168    
Fixed Assets BGN mil         15.6 21.6 18.8 20.2 18.3    
Total Assets BGN mil         717 849 972 1,109 1,198    
Shareholders' Equity BGN mil         67.4 80.9 82.0 85.5 89.7    
Of Which Minority Interest BGN mil         0 0 0 0 0    
Liabilities BGN mil         649 768 890 1,024 1,109    
Interbank Borrowing BGN mil         0 0 0 0 0    
Customer Deposits BGN mil         647 766 887 1,022 1,102    
Issued Debt Securities BGN mil         0 0 0 0 0    
Other Liabilities BGN mil         0 0 0 0 0    
growth rates                      
Customer Loan Growth % ...       13.3 11.0 22.2 3.43 0.023    
Total Asset Growth % ...       15.1 18.5 14.4 14.2 8.01    
Shareholders' Equity Growth % ...       2.85 19.9 1.32 4.32 4.94    
Customer Deposit Growth % ...       16.6 18.3 15.8 15.2 7.92    
market share                      
Market Share in Customer Loans %         0.909 0.982 1.20 1.34 1.36    
Market Share in Total Assets %         1.19 1.32 1.39 1.58 1.57    
Market Share in Customer Deposits %         1.21 1.32 1.41 1.59 1.65    
ratios Unit 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                      
ROE %         2.81 4.29 1.31 4.23 4.82    
ROA %         0.280 0.407 0.117 0.341 0.366    
Costs (As % Of Assets) %         2.82 2.37 2.16 1.98 2.18    
Costs (As % Of Income) %         90.7 75.8 84.6 69.0 45.6    
Net Interest Margin %         1.32 1.52 1.09 1.42 1.53    
Interest Spread % ...       0.901 1.17 0.778 1.18 1.34    
Asset Yield %         5.13 4.88 4.24 4.16 3.84    
Cost Of Liabilities % ...       4.23 3.71 3.46 2.97 2.49    
Interest Income (As % Of Revenues) %         42.4 48.8 42.5 49.6 32.1    
Fee Income (As % Of Revenues) %         46.7 42.1 45.8 38.6 23.5    
Other Income (As % Of Revenues) %         10.9 9.10 11.7 11.8 44.4    
Equity (As % Of Assets) %         9.41 9.53 8.43 7.71 7.49    
Loans (As % Of Deposits) %         76.1 71.4 75.3 67.7 62.7    
Loans (As % Assets) %         68.7 64.4 68.8 62.3 57.7    
Cost of Provisions (As % Of Loans) %         -0.022 0.463 0.407 0.803 3.58    

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IAB's total revenues fell 8.73% to BGN 34.1 mil in 2017

By Helgi Analytics - September 20, 2018

International Asset Bank generated total banking revenues of BGN 34.1 mil in 2017, down 8.73% compared to the previous year. Bulgarian banking sector banking sector generated total revenues of BGN 3,870 mil in 2017, down 4.62% when compared to the las...

IAB's net interest margin rose 2.51% to 1.35% in 2017

By Helgi Analytics - September 3, 2018

International Asset Bank's net interest margin amounted to 1.35% in 2017, up from 1.32% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 4.21% in 2009 and an all time low of 1.09% in 2013. The avera...

IAB's net interest income rose 9.63% to BGN 18.1 mil in 2017

By Helgi Analytics - September 3, 2018

International Asset Bank generated total banking revenues of BGN 34.1 mil in 2017, down 8.73% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of BGN 55.0 mil in ...

IAB's customer loan growth rose 337% to 11.8% in 2017

By Helgi Analytics - September 3, 2018

International Asset Bank's customer loan growth reached 11.8% in 2017, up from -4.96% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 22.2% in 2013 and an all time low of -11.8% in 2009. In the last decade,...

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Finance

International Asset Bank has been growing its revenues and asset by 4.57% and 7.34% a year on average in the last 3 years. Its loans and deposits have grown by 2.03% and 7.12% a year during that time and loans to deposits ratio reached 58.5% at the end of 2017. The company achieved an average return on equity of 7.14% in the last three years with net profit growing 19.2% a year on average. In terms of operating efficiency, its cost to income ratio reached 71.1% in 2017, compared to 59.4% average in the last three years.

Equity represented 7.72% of total assets or 14.4% of loans at the end of 2017. International Asset Bank's non-performing loans were of total loans while provisions covered some of NPLs at the end of 2017.