tbi bank reports net profit of 50 million Euro, up 18 percent in 2024

tbi bank reported a record net profit of EUR 50 million for 2024 – 18 percent higher year-on-year (YOY) based on unaudited consolidated financial results.

Throughout 2024 tbi onboarded new merchant partners, including new verticals, and is now present in 31.000 merchant partner check-out points on its main markets of operation –Romania, Greece, Bulgaria.

In 2024 tbi bank serviced 2.2 million loan applications in Bulgaria, Romania and Greece, 32 percent more YoY. In this period the bank issued over 1.000.000 loans (32 percent higher YoY) in the amount of EUR 1.177 billion – 26 percent more YoY. Moreover, the self-service channels contribute strongly to the business results, as 70 percent of the loan applications were made digitally.

tbi reports 20 percent YoY growth in total assets as to the end of December 2024, reaching EUR 1.77 billion. The gross loan portfolio increased to EUR 1.3 billion at the end of December 2024 (25 percent YoY growth).

tbi bank’s operating income grew by 27 percent YoY reaching EUR 258 million, mainly driven by 29 percent increase in interest income. This allowed operating profit for 2024 to reach EUR 179 million.

The increase in the bank’s general expenses by 24 percent YoY to EUR 119 million was mainly driven by the continuous investments in technology and AI solutions to support the development of new products in all three markets of operations and the investments in new business lines.

In addition, tbi bank’s deposit portfolio reached EUR 1.34 billion at the end of December 2024 – well outperforming the market and demonstrating a growth of 20 percent YoY. The main driver was retail term deposits portfolio.