tbi bank reports net profit of 11.3 million euros, up 40 percent in Q1

tbi bank’s consolidated unaudited financial results for the first quarter of 2024 show net profit of 11.3 million euros – almost 40 percent higher than the 8.2 million euros profit achieved for the same period of last year.

In Q1 of 2024 tbi bank serviced nearly 500.000 loan applications in Bulgaria, Romania and Greece, marking 33 percent growth compared to Q1 of 2023. In the first quarter of 2024 the bank disbursed 200.000 loans at the amount of quarter a billion Euro – 21 percent more compared to the same period of 2023. The growth is due to the contribution of the retail segments in all three markets of operation.

tbi reports nearly 35 percent growth in total assets as to the end of Q1 2024, reaching 1.57 billion euros (from 1.16 billion euros at the end of March 2023). The loan portfolio stands at 1.1 billion euros (28 percent growth compared to end of Q1 2023).

Also, tbi bank’s deposit portfolio reached 1.2 billion euros at the end of March 2024 –outperforming the market and demonstrating a solid growth of 37 percent compared to end of Q1 2023. The main driver was the retail term deposits portfolio, where the increase was even higher with 45 percent compared to March 2023.

“In the first quarter of 2024 tbi once more demonstrated outstanding results thanks to an excellent team performance and strong customer-focus. We continue investing in our products and services as well as in our talent’s innovative mindset, says Petr Baron, CEO of tbi. We remain committed to providing access to free daily banking and financing to our retail customers and merchant partners in Bulgaria, Romania, and Greece. As one of digital banking pioneers in the region our model is aimed to show more business growth in the years to come”.