Money Buzz! Europa

Tag: TBI Bank

  • TBI Bank expands its operations in the EU by entering Greece

    TBI Bank expands its operations in the EU by entering Greece

    TBI Bank is entering the Greek market after obtaining approval from the Bank of Greece. It is the bank’s third main market of operations, after Romania and Bulgaria.

    TBI Bank currently offers cross-border activities, without physical presence, in 5 other EU markets – Germany, Poland, Lithuania, Denmark, and Sweden. 

    TBI has a wide network of nearly 13.000 merchant partners online and in-store and a customer portfolio of 2 million clients.

    As first steps in Greece, the bank will offer the full range of Buy Now, Pay Later products online, in-store and omnichannel, in a transparent approach.

    Later in 2022, additional customer journeys will be deployed in the market like the general-purpose loans and the innovative NEON card.

    Being the Buy Now, Pay Later (BNPL) market leader in Romania and Bulgaria, TBI will also transfer its know-how on the Greek market over 2022.

    This solution helps merchants across all industries to sell more and customers to instantly acquire desired product or service and spread the cost of their purchase over time.

    By splitting repayments in 4 or more installments, TBI’s BNPL will offer a new convenient payment solution that is currently missing on the Greek market.

    These products will be accessible to Greek customers online, via TBI’s Mobile App and website, and through the Call Center.

    TBI’s team in Greece will be led by Costas Tovil, an industry expert with almost 20 years of fintech and banking experience in Greece, Romania and Bulgaria.  

  • TBI Bank to offer consumer lending services in Lithuania

    TBI Bank to offer consumer lending services in Lithuania

    TBI Bank, with core markets in Bulgaria, Romania, and banking operations in Germany, Sweden, Denmark and Poland, enters the Lithuanian market.

    The move is in line with the bank’s overall business strategy through which it is enlarging its European digital footprint in the Nordics, Baltics and Central Europe.

    In Lithuania, the bank will digitally offer consumer lending services without opening a branch.

    This way, TBI Bank gains the opportunity to diversify its product portfolio, while offering customers more financial alternatives.

  • TBI Bank partners with Onfido to cut customer onboarding time by 67%

    TBI Bank partners with Onfido to cut customer onboarding time by 67%

    TBI Bank announces a partnership with Onfido, the global identity verification and authentication provider, to power secure and seamless customer onboarding.

    As TBI Bank constantly rolls out new phygital products, knowing customers and verifying their identity is vital for regulatory compliance.

    Before partnering with Onfido, this was achieved with live video calls with an agent, a process that was time consuming and sometimes inconvenient.

    Since the collaboration between the two companies started, the following results were seen:

    • TBI Bank are now able to onboard and verify new customers 80% faster than before;
    • TBI Bank have reduced their cost to acquire a new customer by 66%.

    By integrating Onfido’s AI-powered ID verification service, TBI’s customers can sign up by simply taking a photo of their government-issued identity document (ID) and taking a selfie.

    Onfido first checks that the ID is genuine and then matches it to the user’s face. This ensures the person presenting the identity is its legitimate owner and is physically present.     

  • TBI Bank, net profit of EUR 8.2 million in the first half of 2020

    TBI Bank, net profit of EUR 8.2 million in the first half of 2020

    TBI Bank’s net profit amounts to EUR 8.2 million, the Bank’s unaudited consolidated results for the first half of 2020 show.

    That is 16% lower than in the same period of pre-crisis and record profitability in 2019.

    Assets increased by 8% and reached EUR 504 million at the end of June. In first half of 2020 TBI Bank issued new loans for EUR 150 million, and the Bank’s gross loan portfolio reached EUR 359 million at the end of the period.

    Rretail deposits grew by 10% and reached EUR 312 million.

    More than 500.000 online and offline applications in Bulgaria and Romania and 160.000 loans were issued in first half of 2020.

    ”Actual financial performance in H1 exceeded our reforecast prepared in April, while July and August are on the same ‘overperformance’ track. We all are working extremely hard in order to secure the same trajectory till the year end and going into 2021 ,”  says Denis Gorbunov, CFO of TBI Bank.

  • TBI Bank to finance your new Lindab roof

    TBI Bank to finance your new Lindab roof

    Lindab, one of the biggest construction materials manufacturers in Romania, will offer TBI’s installment loans for roof construction or renovation.

    The lending process is fully digital and can be completed immediately in less than 10 minutes.

    TBI’s financing solution can be accessed for all types of Lindab roofs, completed by the Rainline or Craft and Magestic rainwater system.

    Free of any charge, all customers receive both technical support in choosing the right solution for their roof and financial support for their existing needs.

  • TBI Bank, record high net profit of nearly EUR 23 million in 2019

    TBI Bank, record high net profit of nearly EUR 23 million in 2019

    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%.

  • TBI Bank, innovative digital financing solution for dental services

    TBI Bank, innovative digital financing solution for dental services

    TBI Bank announces a new partnership to offer a digital lending solution for dental services with Dr. Leahu Dental Clinics, the leading dental care provider in Romania.

    Romanians can now access TBI Bank’s 100% digital solution for their dental problems and repay in installments, in the context of dental clinics expected to be gradually reopened starting May 15th.

    In 2019, mainly due to lack of financial resources, about 50% of Romanians didn’t go to the dentist at all and over 20% declare they don’t intend to schedule a dental check-up in the upcoming period either, shows a recent study developed by Dr. Leahu Dental Clinics.

    Furthermore, during the state of emergency, patients had challenges in accessing the needed dental care services and most of them postponed visits to the dentist for immediately after the state of emergency period.

    Clients can use TBI’s solutions to pay for dental services

    Through the partnership with Dr. Leahu Dental Clinics, clients can use TBI’s solutions to pay for the dental services they need, from basic procedures such as cavity treatments to complex medical care such as implants, in a fully digital lending process that can be completed on the spot, in less than 10 minutes.

    After establishing the dental plan, patients can determine the financing solution that best suits their needs and follow the credit approval process within the clinic, without the need to go to the bank.

  • TBI Bank becomes the first bank in SE Europe to launch SEPA Instant

    TBI Bank becomes the first bank in SE Europe to launch SEPA Instant

    • TBI Bank becomes the first bank in Southeast Europe to launch SEPA Instant, a real time payments scheme.
    • The service is offered via Bank of Lithuania and provides customers with the opportunity to send and receive up to 15 000 EUR within seconds inside the European Union and EU Economic area – and that 24/7.

    Initially the solution, part of TBI Bank’s Banking-as-a-Service (BaaS) strategy, will be available for business partners, starting with 4Finance, one of Europe’s largest digital consumer lending groups, operating in 13 countries.

    “TBI Bank’s team is excited to be trusted as Bank of Lithuania’s first foreign partner for the implementation of the SEPA Instant scheme. This is a move of major importance for us – it proves that our investments in cutting-edge digital solutions are beneficial for our business partners and customers. Our clients will have a déjà vu: the new service will remind them of the switch from dial-up internet to broadband”, says Petr Baron, CEO of TBIF (TBI Bank).

    SEPA Instant will complement TBI Bank’s award-winning Payment Hub – a BaaS-solution currently offering euro transactions to 4finance customers and allowing them to receive the approved loans in real time.