Investbank stays close to every one of its customers

Mrs. Stancheva, Investbank AD is already 30 years old. How can one condense all of this history and experience into a few sentences? Which of the bank's achievements in these three decades will you single out?

We have done so many things in these 30 years that I can hardly summarize them in just a few sentences. At Investbank, we have preserved the "old-fashioned" traditional approach - private banking, face-to-face meetings - and combined it with rapid digitalization and individual attention to the client's needs. This is the brand defining our success in recent years – we offer something for everyone. For customers who prefer the traditional type of service, we do it the best way. From the executive director to the front office employee, we are private bankers, and we are all there for the client, we go to their places, we get to know their business, we recommend ways of financing or investing funds.

At the same time, we also have innovative digital products. I believe that we should reach every customer, whether they live in Sofia, in the town of Byala (Varna Province) where we recently opened an office, or in the town of Dolna Banya, where we also have a new office. For us, the customer is valuable, and we create an individiualized product just for them. It's no secret that our InvestAgro loans against agricultural subsidies are among the best products on the market. It is also known that our student loans have the lowest interest rates in the country. If I have to summarize, our greatest strength is rooted in combining the traditional with the new and the digital so that our customers can have a choice. During these 30 years, we have proven that this approach at Investbank works.

You have been in the management of this bank for several years now, but most of your career has passed through different banks in the sector. What have been the most challenging situations for you?

My entire work experience has been in the banking sector - I haven't worked a day outside of it. I have had many challenges in these past years. Even the biggest challenge, however, always has a good ending if you can form a good team. A person can be a financial genius, understand a lot about reports and analysis, create new products, but if he or she does not know how to build a team, he or she will not achieve anything. A manager without a team is like a captain without a ship. For me, the biggest challenge has always been getting people on the team to do their part of the job confidently. The manager is not the person who takes on all the tasks, she has to make people believe in her. I have a favorite quote by Antoine de Saint-Exupery: "If you want to build a ship, don't start by making people gather planks, dividing the work and giving orders. Instead teach them to yearn for the vast and endless sea." For me, this has been the leading principle - not to hand out hammers and planks, but to encourage people to believe in the end result and that we can achieve it.

The individualized approach to clients has been emphasized as an advantage of Investbank. What else helped establish this financial institution as a successful all-Bulgarian bank?

At the risk of repeating myself – the individualized approach combined with the new and innovative digital achievements that we have implemented. Tradition and innovation hand in hand have helped us achieve these excellent results in recent years.

What do the business numbers say in favour of Investbank?

The business numbers show our desire to reach every customer. We now have 90 points of sale across the country – 18 offices, 26 financial centres and 46 outsourced workplaces. The financial results for the first six months of the year show that our approach has been justified. Investbank’s total assets reach nearly BGN 3.3 billion, and its equity is over BGN 400 million. By the middle of the year, we’re reporting a profit of nearly BGN 34 million.

Digitization is developing rapidly. What new services can Investbank clients enjoy and what others are to come?

Many of our products are first in the national market. For example, we were the first all-Bulgarian bank to introduce Multibanking. With it, Investbank clients can manage their accounts from different banks using our digital platforms. The blink parking service is also an incredible convenience. Our bank is the first in Bulgaria to launch such a service in June as an alternative to SMS payments for parking. Thus, people who use our Ibank Mobile app can pay for blue and green zone fees in Sofia and other big cities, without being charged an additional fee, the way SMS payments do. We also offer Blink P2P, which enables instant payments by phone number, similar to fintech companies. I can't help but mention our mobile application for authorizing transfers Ibank mToken, which can also be used in offline mode; the possibility to open a payment account online with a debit card and deposit; and the online registration of a business client among other things. You can see how diverse our digital products are. I must emphasize that at this year's Bank of the Year forum event we were awarded for having the best digital project. This makes us very proud. Last year, we got the digital bank award at the "Mr. and Mrs. Economy" Business Awards and our Multibanking service won the innovation award at the Digitalk&A1 Awards.

What are the difficulties and challenges, but also the advantages of being a fully Bulgarian bank in Bulgaria?

I'm a positive person, so let's start with the benefits first. The good thing about being a fully Bulgarian bank is that the people who make decisions understand the psychology of our customers. We know what the problems and needs of the Bulgarians are, because we live here and now. Our products are created here, in Bulgaria - not only the digital ones, but also all the others. This is our huge advantage. Interestingly, it’s those same things that also represent the challenges. We put in much more effort; we create all the products and banking services ourselves and do not rely on foreign know-how, and the good thing is all the work done now bears fruit and shows good results.

What is your position on the increasingly hot topic of "Bulgaria in the Eurozone, and the preparedness of the country, businesses and banks"?

Investbank is preparing for the Eurozone entry. We have prepared teams to deal with this difficult challenge - we have the appropriate specialists; and we have introduced the necessary internal rules and committees to support this process. We’re visibly ready for this. We work very closely with the Association of Banks in Bulgaria and the Bulgarian National Bank. We are trying to ease the process so that the people will not feel discomfort in the transition to the Eurozone. Together with the other banks in the country, we are all "in the same boat" regarding this process, so we help each other by meeting, talking, preparing and creating rules.

Interest rate policy is an important topic for deposit holders and borrowers. What lies ahead for us in the period leading up to the Eurozone entry and beyond?

I think that before joining the Eurozone and after that, no serious upheavals are looming in terms of interest rates in Bulgaria. They currently stand at normal levels, and banks actively lend to both private individuals and legal entities. Then there are the interest rates on deposits, aimed at customers who wish to invest their money, and the respective banks strive to provide them with a better yield. In my opinion, people’s worries that something negative will happen in that regard after joining the Eurozone are unfounded. As you can see, even the EURIBOR index is normalizing. I think there will be no problems with the banks' interest rate policy in the next few years.

If we had to use only one word to describe Investbank, that word would be...

Stability.

Is there a formula for being a successful leader - especially for a woman in the world of finance?

There is a formula, yes. I believe that in order for a person to succeed, regardless of whether they are a lady or a gentleman, whether they are in the field of finance or are involved in something else, they must love their work. Sure, talent and knowledge make things happen, too, but you have to love what you do, and be dedicated, otherwise you cannot achieve the best results. Even if you are very prepared, even if you graduated from the best universities in the world and know everything, if you go to work in the morning with the feeling that it is just another terrible day, it will not work. I have watched this effect from the sidelines, and I say it for myself as well. I have become who I am now with extreme dedication and love for my job - especially at Investbank, considering the team we have created, the positive atmosphere and the fact that the owner is always there to help us. This inspires me to really love my job and together with my colleagues, from the bank's team, to achieve these excellent results.

As a banker, what have you learned about money that every person should know?

Money must be invested. They should not be kept under mattresses, in jars, etc. If a person has a business, he should expand it. You cannot stay limited and avoid using banking services for lending and financing projects, but at the same time expect to grow. If you are an individual and have funds, you must also invest them. You must have money on deposit for the proverbial rainy days. You should also keep track of which banks give the best interest rates in order to orient yourself to their services. It is good to invest in real estate if you have excess funds.

This is what I have learned about money - you have to invest it the right way. If you don't have the knowledge and sense to do it, it's good to consult your banker and they can guide you on how to do it. Under no circumstances should money stay blocked in non-bank locations where it loses its value.

Company profile

Investbank AD is a dynamically developing Bulgarian commercial bank. As a financial institution it offers its customers and partners innovative products and modern services. The bank's trademark is the individual service approach. Investbank professes high corporate social responsibility, provides financial support to significant projects for the preservation and development of the spiritual and cultural values ​​of Bulgaria, as part of the European and global cultural networks. The bank is the recipient of a number of prestigious awards.

The numbers speak

• BGN 3.3 billion - the total asset value of Investbank;
• BGN 400+ million is the equity capital of the financial institution;
• BGN 34 million is the profit as of the middle of this year;
• The bank has 90 points of sale throughout the country - 18 offices, 26 financial centres and 46 outsourced workplaces.