TBI profits post 29% increase in 2022

TBI Bank on Monday reported net profits of 35.5 million euros in 2022, up 29% from the previous year.

The bank, which began activities in Greece in April 2022, said it received 1.3 million applications for financing in Romania, Greece and Bulgaria and disbursed funds worth €726 million in 2022, up 34% from 2021.

Within the first six months of operations in Greece, TBI has forged partnerships with more than 2,000 professional customers, receiving more than 40,000 funding applications per month.

Its assets totaled €1.1 billion at the end of 2022, up 54% from 2021, while its loan portfolio grew 43% to €778 million.

Revenues rose 30% with EBITDA rising 28% to €122 million.

General expenses rose 30% to €79 million, pre-tax profits totaled €43 million and deposits grew 63% to €796 million.