tbi bank’s consolidated unaudited financial results for 2023 show net profit of EUR 42.4 million – 16 percent higher than the EUR 35.5 million profit achieved in 2022. Throughout that period tbi onboarded new merchant partners, including new verticals, and is now present in more than 20.000 merchant partner check-out points on its markets of operation.
During 2023 tbi bank serviced 2.5 million loan applications in Bulgaria, Romania, and Greece, twice as much as for 2022. In 2023 the bank disbursed nearly 750.000 loans at the amount of nearly EUR 1 billion – 33 percent more compared to 2022. The growth is due to the contribution of both segments – retail in all three markets of operation and small and medium enterprises in Romania.
tbi reports nearly 40 percent growth in total assets as to the end of December 2023, reaching EUR 1.48 billion (from EUR 1.07 billion at the end of December 2022). The loan portfolio reached an important milestone of EUR 1.04 billion at the end of December 2023 (with 34 percent growth compared to end of 2022). 71 percent of applications for loans were made through self-service digital channels (compared to 51 percent for 2022) and thus digitalization contributes strongly to the record business results.
tbi bank’s operating income grew by 32 percent to EUR 203 million, mainly driven by 27 percent increase in net interest and supported by 25 percent growth of net fees and commissions income. This allowed operating profit for 2023 to reach EUR 146 million.
“I am proud of the record results and the team performance in the past year. Our customers know they can rely on us and so we maintain a strong financial standing, while exercising prudent risk management. We stay focused on what we do best: launching customer-focused products in Bulgaria, Romania, and Greece, providing a leading service and helping our communities – both retail and merchants – manage their financial lives in the best way possible”, says Petr Baron, CEO of tbi.
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