TBI Bank reports best financial result for 2021

Deniza Cristian 06/04/2022 | 09:22

In the past years the world has faced unexpected challenges – when the impact of the global pandemic started weakening, the current tragic events in Ukraine followed.


These times have been tough for every business organization around the world – yet some have proven to be more resilient than others. In that time, TBI Bank launched plenty of new products and initiatives, focused on its customers and continued developing a strong team on the main markets of operation. Success followed.

TBI Bank’s consolidated unaudited financial results show all-time record net profit of EUR 27.5 million in 2021, 39% higher than the results in 2020. Throughout the year TBI onboarded new BNPL partners, including new verticals, and is now present in 14.000+ merchant locations. The Bank was quick to adjust to changing market environment and consumer preferences, which helped both retail and SME business lines to grow above the market trends and contribute positively to the overall result.

Being one of the leaders in South-Eastern Europe when it comes to consumer lending and BNPL, in 2021 TBI Bank serviced almost 1.25 million applications in Bulgaria and Romania and issued nearly 500 thousand payment plans. Growth can be seen in both retail and SME sectors in Bulgaria and Romania аs the Bank’s total assets increased by nearly 30% reaching EUR 710 million, while the loan portfolio reached EUR 544 million at the end of the year. Romania, TBI Bank’s largest business market, was the leader in terms of growth (38% for Romania; 32% all markets) and contribution to the overall business performance.

Based on such positive business performance, the Bank’s revenue grew by 24% to EUR 124 million, mainly driven by 14% increase in net interest income. This allowed operating profit for 2021 to reach EUR 96 million with nearly 30% year-on-year growth. Profit before tax amounted to EUR 34.6 million with 50% growth compared to 2020. The increase in the Bank’s general expenses by 19% to EUR 61 million was mainly driven by accelerated growth of loan portfolio and investments into new business lines and markets.

Also, TBI Bank’s deposit portfolio reached EUR 411 million at year’s end, demonstrating a healthy growth, well outperforming the market. TBI maintained its position as one of the most trusted places for people looking for good return on their savings. Particularly impressive growth was registered in Romania, where the Bank increased its retail deposit portfolio by 53% while the overall market was shrinking.

At the end of 2021 the Bank had a strong and well secured position from both capital and liquidity sides – on consolidated basis the capital adequacy ratio (CAR) being at 23% and liquidity coverage ratio (LCR) – 376% (more than 3.5 times above the regulatory limit). TBI Bank’s operations with ever-improving discipline in terms of cost management (49% cost to income ratio) were combined with return on the working portfolio (ROWP) at 27% and allowed the return on assets (ROA) and the return on equity to reach 4.3% and 18.4%, respectively. It once again puts TBI Bank among the most profitable banks in South-Eastern Europe region.

“Our all-time record high 2021 results reflect the outstanding work from the entire TBI team, who constantly reinvents our cutting-edge products and services across all our markets of operations, satisfying our customers’ ever-changing needs” says Petr Baron, CEO of TBI.  2021 marks a milestone in our organization’s history: the entry of  new markets, Lithuania and Greece. We look very confident towards 2022 to maintain our BNPL leadership position in Southeast Europe and continue challenging the established norms in the banking sector. And, of course, we will continue with our efforts in supporting colleagues and friends in Ukraine who are facing such difficult times.”

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Deniza Cristian | 31/07/2023 | 14:14

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