The consolidated unaudited financial results of TBI Bank for the first half of 2024 show a net profit of €23.2 million, 17% higher than the profit of €19.7 million achieved in the same period of the previous year.

During the first half of 2024, tbi added new trading partners, including new lines of business, and is now present in almost 30,000 partner check-out points in its main markets of operation: Greece, Romania, and Bulgaria. This impressive scale has helped the bank maintain its leading position in payment plans in all three countries. In addition, strong new performance was seen across all areas of its business.

In H1 2024, TBI Bank handled 1 million loan applications in Greece, Romania, and Bulgaria, an increase of almost 40% compared to the same period in 2023. By June, the statement notes, the bank disbursed nearly 420,000 payment plans worth EUR 532 million—22% more compared to the same period in 2023.

tbi recorded an impressive 33% increase in total assets by the end of H1 2024, reaching EUR 1.6 billion (up from EUR 1.2 billion at the end of H1 2023). The loan portfolio grew to EUR 1.15 billion at the end of June 2024 (up 26% compared to H1 2023), ranking TBI among the top 10 banks in NE Europe.

Based on this positive business performance, TBI Bank's revenue increased by 25% to EUR 120 million, mainly driven by a 28% increase in net interest income. This resulted in an operating profit for the first half of 2024 of EUR 85 million.

Furthermore, TBI Bank's deposit portfolio reached EUR 1.23 billion at the end of June 2024, outperforming the market and showing a steady increase of 35% compared to June 2023. The main driver was the retail term deposit portfolio, where the increase was even higher, by 40%, compared to June 2023.

The 27% increase in the bank's overhead, to EUR 58 million, was mainly driven by continued investment in technology and artificial intelligence solutions to support new product development across all markets.

At the end of the period, the bank had a strong and secure position both in terms of liquidity and capital; on a consolidated basis, the liquidity coverage ratio (LCR) was at 929% (well above the minimum regulatory threshold of 100% and one of the highest in the banking industry), and the capital adequacy ratio (CAR) was at 22.8%. TBI Bank is continuously improving its commitment to prudent cost management (46.9% cost of income ratio), which combined with a loan portfolio return of 21.3% allowed return on assets (ROA) and return on equity to reach 3.0% and 20%, respectively.

"Over the past six months we have proven once again that companies can deliver significant value to their clients by continuously providing new services while remaining highly profitable," says Petr Baron, CEO of tbi fs. The basis of our success is our team; after all, it is no coincidence that Newsweek magazine recently ranked us among the 100 most popular workplaces worldwide. The dedication of our team has a direct impact on our valued customers in Southeast Europe, constantly offering them excellent products and top service. As we enter the second half of 2024, we continue to target growth while redefining the banking experience."