TBI Bank’s net profit increased by 58% to a company record high of EUR 22.9 million, the Bank’s audited consolidated results for 2019 show.
The Bank had above the market average growth in the most business areas, assets increased by 17% and reached EUR 465 million at year’s end.
In 2019 TBI Bank issued new loans for EUR 336 million, contributing to 19% growth in the Bank’s gross portfolio, which reached EUR 368 million at the end of 2019. Its retail deposits grew by 25% and reached EUR 281 million.
The results follow the long-term strategy since TBI Bank’s acquisition by 4finance in 2016. It is based on delivering profits through efficiency and clear focus on its core business.
Almost 500.000 loans issued in 2019
More than 1 million online and offline applications in Bulgaria and Romania and almost 500.000 loans issued in 2019 rank TBI Bank among the lending champions of South East Europe.
Furthermore, the Merchant Solutions platform grew by 26% as it have disbursed more than 130.000 credits for EUR 85 million in total. Also in 2019 the Bank entered a new market, Poland.
At the end of 2019 the Bank had a strong and well secured position from both capital and liquidity sides – capital adequacy ratio (CAR) being at 18.9% and liquidity coverage ratio (LCR) – 258%.