Despite a nearly 6% increase in the net interest income, up to EUR91 million end-2020, the net profit was impacted by additional risk provisions for new loans.
Total assets grew almost 20% up to EUR556 million end-2020, due mainly to an increase in lending and in investments in state and corporate bonds.
TBI, one of the leaders in Southeast Europe on the lending segment, registered some 1.2 million loan applications in 2020, in Bulgaria and Romania, 7.5% more than in 2019, and granted almost 500,000 loans. Online retail loans contributed significantly to this increase, doubling on the year in 2020.
As regards the markets in which it operates, Romania saw the biggest growth and contributed substantially to a positive evolution of the loan portfolio –an increase of 31% locally compared with 12% on a group level. Thus, the total loan portfolio reached EUR409 million end-2020 on all markets in which TBI operates. Moreover, the company has attracted over 4,000 new merchants that use the innovative lending solutions at the point of sale Merchant Solutions of TBI.
With over 11,000 online and physical retail locations, TBI Bank meets customers’ changing needs and see high growth potential on this segment in the future.
TBI Bank also saw sustainable growth in deposit accounts, managing to significantly exceed the market average. The total portfolio grew over 21% to EUR376 million.