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According to the statement, the start of operations in Lithuania is a step that will allow the implementation of the bank’s commercial strategy aimed at promoting the integration of digital services in northern and central Europe and the Baltic countries. This direction is based on the position of TBI Bank’s parent company, 4finance Group, which is recognized as one of the leaders in the digital (online) lending sector in the region.
TBI Bank offers new, stable and higher income markets to diversify your loan portfolio with a focus on reducing credit and concentration risks. Starting operations in Lithuania is a natural step in the bank’s development, as applying the 4finance Group’s expertise and digital sales channels will facilitate access for customers.
“Lithuania has great potential, consumers create and know digital solutions, they are looking for a new generation of banking services and expertise. Starting operations in this market is an important step to expand the business and create more value for customers in the future.” says Lukas Tursa, Senior Vice President of TBI Bank.
The first steps are consumer loans
In Lithuania, the new bank will operate without establishing a branch. At the beginning of its operations, TBI Bank will cooperate with the lender Vivus.lt. After all, both UAB Credit Service, which runs the Vivus.lt brand, and TBI Bank belong to the same group of companies, 4finance Group. This collaboration of group members is expected to help strengthen the bank’s brand and position in the country.
“The introduction of the new bank will strengthen not only the development of digital services in the country, but also the positions of other alternative financing companies, such as Credit Service. We believe that with the proliferation of alternatives to financial service providers in the country, it will be easier for clients to choose the solutions that best suit their needs. We are very happy with this project and we believe that it will be of great use to consumers ”, says Giedrė Štuopė, director of the UAB Credit Service.
In the future, TBI Bank plans to expand, strengthen its positions and provide additional financial services.
TBI Bank is an EU / EEA bank that offers services without establishing a branch in Lithuania, focusing on consumers and small and medium-sized businesses. Financial and ancillary services are provided physically and digitally (phygital). The bank currently operates in Bulgaria, Romania, Germany, Denmark, Sweden and Poland. TBI Bank is part of one of the largest loan groups, 4finance Group. Through various digital channels, more than 300 physical branches, and a trusted partnership with more than 10,000 merchants and retailers, TBI Bank alone served more than one million customers in 2020 and issued almost 500,000 loans.
The successful business model and customer focus have helped the bank to become one of the most profitable and efficient banks in Southeast Europe.
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