ΤΒi Bank continues to deliver strong financial results with a record net profit of €38 million for the first 9 months of 2024, up 34% year-on-year (based on unaudited consolidated financial results). In addition, the challenger bank in SE Europe maintained its strong liquidity and capital position. Strong performance was also observed in all its business areas. 

In the first nine months of 2024, tbi added new commercial partners, including new lines of business, and is now present in 30,000 partner check-out points in its main markets of operation, Greece, Romania, and Bulgaria. With this impressive breadth of operations, the bank has helped more customers finance their desired markets and helped maintain its leading position in all three countries.

By the end of September 2024, TBI Bank handled 1.6 million loan applications in Greece, Romania, and Bulgaria, 40% more compared to the same period last year. During this period, the bank disbursed almost 720,000 loans (39% year-on-year growth) amounting to € 840 million, 25% more compared to the same period in 2023. In addition, 70% of loan applications were made through digital self-service channels, contributing significantly to the very positive financial results.

tbi recorded a 26% increase in total assets by the end of September 2024, reaching €1.70 billion. The loan portfolio increased to €1.23 billion at the end of September 2024 (up 26% compared to Q3 2023).

Based on this positive business performance, TBI Bank's operating income increased by 25% to €186 million, mainly due to a 34% increase in net interest income. This resulted in an operating profit for the first nine months of 2024 of €130 million.

The 22% increase in the bank's overheads to €87 million was mainly driven by continued investment in technology and AI solutions to support new product development across all markets and investments in new business areas.

In addition, TBI Bank's deposit portfolio reached €1.26 billion at the end of September 2024, outperforming the market and growing by 26% compared to the same period last year. The main driver was the retail term deposit portfolio, where growth was even higher, up 32% year on year.

TBi's ongoing efforts to improve digital products and the everyday banking experience led to a significant milestone across all markets. Over 250,000 customers used TBI Bank's apps in Greece, Romania, and Bulgaria each month in the last quarter, resulting in 20 million connections in Q3 2024, 2.3 times higher compared to the same period in 2023.

At the end of Q3 2024, the bank had a strong and secure position both in terms of liquidity and capital, with a liquidity coverage ratio (LCR) of 602% (well above the minimum regulatory threshold of 100% and the banking sector average of 242%). Following the shareholders' decision to capitalize the first half of 2024 earnings, the capital adequacy ratio (CAR) reached 23.7%. TBI Bank is continuously improving its commitment to prudent cost management and efficiency (46.5% cost of income ratio), which, combined with a return on the loan portfolio of 21.4%, allows return on assets (ROA) and return on equity to reach 3.2% and 20.7%, respectively.

"Our continuously growing customer base in Greece, Romania, and Bulgaria is a source of great satisfaction and a key contributor to our strong financial results," said Petr Baron, CEO of tbi FS. "I would like to thank our customers for their trust, as well as our passionate and dedicated team, which remains the foundation of our success and continuous innovation. With the festive season approaching, we are working hard to ensure our customers have the support they need for their day-to-day needs."