The move is in line with the Bank's overall business strategy through which it is enlarging its European digital footprint in the Nordics, Baltics, and Central Europe. The direction is based on the strong market position of TBI's mother company, 4finance, that is already one of the leading digital lending brands in the region.
The stable and higher living standards in these countries offer TBI Bank the opportunity to diversify its portfolio in terms of credit risk and risk of concentration. Therefore, entering the Lithuanian market comes as a natural next step, benefiting from 4finance's expertise and digital sales channels for acquiring customers.
In Lithuania, the Bank will digitally offer consumer lending services without opening a branch. This way, TBI Bank gains the opportunity to diversify its product portfolio while offering customers more financial alternatives and building its position as an international banking services provider.
"Being one of the leading lending champions in South-Eastern Europe, we are constantly looking for expanding our business and entering new markets while benefiting from the synergy between TBI Bank and 4finance. Stepping in Lithuania is a strategic move that will furthermore strengthen our digital footprint in Europe. We are looking forward to this exciting new challenge that is ahead of us," says Petr Baron, CEO TBIF (TBI Bank).
Find out how fast is TBI's digital lending process in this short interview with Petr Baron.
