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Company Response

Response by First Investment Bank

...First Investment bank (“FIB”)...rejects the notion that its relations with the energy industry are “murky”...The unidentified authors of the Greenpeace report might better address their social justice concerns to the Bulgarian authorities rather than insinuating that FIB loans to the energy sector pose a threat to the Bulgarian banking system without checking the facts with us...FIB rejects as untenable and unsubstantiated the statement and conclusions in the Report with respect to any alleged hidden or unprofessional links between FIB and companies operating in Bulgaria’s energy sector...[W]e strongly highlight the fact that FIB had always respected human rights, advocated for their observance and treated all human being with utmost respect...We consider it highly irresponsible...to cite the 2017 European Semester Report on Bulgaria insinuating that FIB loans to energy companies constitute a non-performing exposure that creates systematic risk. This is a subject which has been reviewed exhaustively by the Bulgarian national Bank and by European Commission supervisors overseeing the financial assistance provided to FIB in 2014, assistance that was repaid ahead of schedule...

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