Bulgaria’s TBI Bank to move 2023 benefit into capital

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    by Zac Refshauge
    Published: July 3, 2024 (3 weeks ago)

    July 3 (SeeNews) – Bulgaria’s TBI Bank said on Wednesday that its investors settled to change over its 2023 merged net benefit of 42.5 million euro ($45.6 million) into cash-flow to help business improvement.
    The bank’s benefit for the primary portion of 2023 was moved into capital following endorsement by the Bulgarian Public Bank conceded toward the finish of last year, TBI said in an official statement. To help future development, financial backers have likewise chosen to reinvest in the organization the benefit accomplished in the final part of the year before.

    “By underwriting the benefit for 2023, we are giving a strong groundwork to our improvement in the business sectors in which we work. We will keep on putting resources into the persistent improvement of our items and administrations to make our clients’ lives much more straightforward,” TBI Bank Chief Petr Nobleman said.

    In 2023, TBI Bank expanded its net benefit by a yearly 17% and developed its resources by almost 40%.

    Last year, the bank got 1.6 million applications for funding from clients in Bulgaria, Romania and Greece, twofold the 2022 number. It endorsed almost 750,000 credits totalling nearly 1 billion euro, which addressed a 30% ascent year-on-year.

    TBI Bank works in Bulgaria, Romania, Greece, Germany and Lithuania.

    ($ = 0.9321 euro)

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