Fibank Q4’23 unconsolidated net income declined by 79.7% YoY to BGN 6.8m (EPS of BGN 0.05). On one side, the rising interest rates continued to affect positively the profitability of the bank as net interest income for the quarter grew by 27.1% YoY (+BGN 20.7m) on the back of 25.6% growth (+BGN 22m) of interest income. The interest income increased as some of the extended loans are probably linked to Euribor or BIR. Fees & commissions income and net trading income also increased YoY. On the other side, BGN 45m loss on debt instruments was booked in Q4, which affected negatively the profitability of the bank. In addition, in the comparable period of 2022 the bank booked more than BGN 18m in profit from the sale of investment profit vs almost none in Q4’23 which also affected negatively the profitability dynamics. For the entire 2023, net income was up by 66.2% YoY (+BGN 53.8m) to BGN 135m with EPS of BGN 0.91. The most significant positive factors were the 36.6% YoY (+BGN 99.2m) growth of net interest income, the BGN 12m higher net F&C income and the mentioned above loss of debt instruments, part of net other operating cost. Gross loans portfolio grew 11.2% YoY and 2.1% QoQ to BGN 7.5bn as retail loans increased 9.2% YoY (+0.7% QoQ) while corporate loans grew 12.2% YoY (+2.8% QoQ). NPL’s were down by 18.9% YoY (-8.8% QoQ) with ratio at 10.1% (based on loans & advances according to EBA definition) while 90-days past due loans were down 21.8% YoY and 9.5% QoQ. The total capital ratio (20.89%) and CET 1 ratio (17.43%) remained comfortably above the required levels (incl. combined buffers) of respectively 18.30% and 13.88%.