tbi bank posts net profit of 23.2 million Euro, up 17 percent in the first half of the year

tbi bank’s consolidated unaudited financial results for the first half of 2024 show a net profit of 23.2 million Euro, 17 percent higher than the 19.7 million Euro profit achieved for the same period of last year.

In H1 2024 tbi bank serviced 1 million loan applications in Bulgaria, Romania and Greece, nearly 40 percent more compared to the same period of 2023. By June the bank disbursed nearly 420.000 payment plans at the amount of 532 million Euro– 22 percent more compared to the same period of 2023.

tbi reports 33 percent growth in total assets as to the end of H1 2024, reaching 1.6 billion Euro (from 1.2 billion Euro at the end of H1 2023).

tbi bank’s revenue grew by 25 percent to 120 million Euro, mainly driven by 28 percent increase in net interest income. This allowed operating profit for H1 2024 to reach 85 million Euro.

In addition, tbi bank’s deposit portfolio reached 1.23 billion Euro at the end of June 2024. The main driver was the retail term deposits portfolio, where the increase was even higher with 40 percent compared to June 2023.

The increase in the bank’s general expenses by 27 percent to 58 million Euro was mainly driven by continuous investments in technology and AI solutions to support the development of new products in all markets. 

“In the past 6 months we’ve once again proven that you can be both valuable for your customers by constantly providing new services – and yet very profitable. The backbone for our success remains our team and it is not a coincidence that recently Newsweek magazine named us among the Top 100 Most Loved Workplaces in the world! The team’s dedication directly affects our beloved customers in SEE since they keep receiving great products and great customer experience. Looking towards the second half of 2024 we remain poised for growth, continuing to redefine the banking experience in the region”, says Petr Baron, CEO tbi fs.