Bulgaria's First Investment Bank (FIB) announced on January 9 its plans to issue up to 500 million euro in two eurobonds in 2008 to finance credit growth, Reuters said.

FIB had chosen ABN Amro and Credit Suise to handle the issues under its one-year euro medium term note programme, the bank said in a media statement.

In a further statement, FIB announced plans for two eurobond issues, one worth 200 million euro and the second 300 million, with a maturity of between three and five years, Reuters said.

First Investment Finance, based in the Netherlands, would issue the bonds and possibly other capital hybrid instruments, while the bank would guarantee the debt, Reuters said.

FIB's net profit more than tripled to 34.4 million over the first nine months of 2007, compared to 9.1 million leva in 2006, mainly due to an increase in extended credits and non-interest income, Reuters said. FIB's net assets were 3.7 billion leva.