International Investment Bank posts net profit of 7.9 million Euro for 2021

International Investment Bank (IIB) published audited IFRS financial statements for the year 2021. IIB showed a net profit figure of 7.9 million Euro, which is 8 percent higher than the same indicator for the previous year and is primarily caused by an increase in income from core activities.

At the end of 12 months of 2021, the total volume of the Bank’s assets amounted to 1.8 billion Euro, having increased by more than 10% compared to 2020. The main driver of assets’ growth was the expansion of lending and investment support provided by the Bank to its member states, including deals aimed at economic recovery to overcome the negative consequences of the pandemic.

In 2021, the implementation of the IIB Capitalization Program continued. At the end of the reporting period, the Bank’s paid-in capital reached 424.8 million Euro (an increase of more than 12 percent compared to the end of 2020). Active support of the IIB member states ensures further strengthening of financial stability, serves as a key factor for the Bank’s dynamic development and opens up new opportunities for further boost in investment activity in shareholder countries.

During the reporting period, IIB significantly increased the volume of loans granted, continuing to demonstrate a high level of geographic and sectoral diversification.

The net loan portfolio grew by more than 16 percent and reached 1.2 billion Euro. Thus, a key indicator of the current strategy set for the 2022-year end was reached one year ahead of schedule. The share of projects implemented in the interests of European shareholders exceeded 58 percent.

The improvement of the quality of the loan portfolio along with its quantitative growth has been a recent trend of IIB lending and investment activity.  Large international corporates and industry-leading players of the Bank’s member states are among its clients using the institution’s financial support for expansion of activities in IIB member states markets.

“2021 marked a number of important achievements and milestones, which I am sure will go down in history of International Investment Bank”, said Nikolay Kosov, Chairperson of the IIB Management Board. “In February, the inauguration of permanent Headquarters in Budapest took place in the presence of high-rank officials from our member states. In October, more than one year ahead of schedule, we reached the 2022 key target volume of the loan portfolio set by current Bucharest Strategy 2018-2022. Our continuous expansion of activities and an increasing role of the Bank in supporting the economies of its countries have created a solid foundation for another truly historic event – in December member states took a unanimous decision to grant access to IIB membership to the Republic of Serbia. I am confident that the results of the past year will give a new powerful impetus to further growth of the Bank and will allow us to achieve ambitious goals set for future periods”.