Launching operations in Lithuania is a step that will allow for implementing the bank’s business strategy, which seeks to encourage the integration of digital services in Northern and Central Europe, as well as the Baltic States. This direction is based on the circumstances of TBI Bank’s mother company 4finance Group, and the company has been recognised in the region as being one of the leaders in the online lending sector.
Goal: value for customers
The new, stable and higher welfare standard markets will allow TBI Bank to diversify its loan portfolio, dedicating attention to credit and concentration risk reduction. Beginning to operate in Lithuania is a natural step in the bank’s expansion through applying the experience of the 4finance group and digital sales channels and it will be possible to easier reach clients.
“Lithuania has vast potential. Its consumers accept and are familiar with digital solutions, and seek new generation banking services and experiences. Launching operations in this market is an important step in the business’ expansion and in seeking to generate as much as a possible value for clients in the future,” TBI Bank senior vice president Lukas Tursa says.
First steps – consumer loans
The new bank will operate in Lithuania without opening a branch, and at the beginning of its operations, TBI Bank will cooperate with the well-known in Lithuania loan provider Vivus.lt. This is because UAB Credit Service, which manages the Vivus.lt brand and TBI Bank, are part of the same business group 4finance Group. This cooperation between group members is expected to help strengthen the brand and the bank’s positions in the country and ensure the highest quality standards in financial services.
“The entry of a new bank will not only strengthen the development of digital services in the country but also the positions of alternative financing companies such as Credit Service. We believe that with an increase in alternatives for financial service providers in the country, clients will be able to better choose solutions that better match their needs. We are incredibly happy with this project and believe that it will be particularly beneficial to our customers,” says UAB Credit Service director Giedrė Štuopė.
TBI Bank plans to expand, strengthen its positions and offer further financial services in the near future.
About TBI Bank
TBI Bank is an EU/EEA bank, which offers services in Lithuania without an in-person branch but with a focus on consumers and small and medium-sized enterprises. Financial and other services are offered on a ‘phygital’ basis. The bank currently operates in Bulgaria, Romania, Germany, Denmark, Sweden and Poland, and is a part of one of the largest lending groups 4finance Group. Through various digital channels, over 300 physical branches, and by making use of reliable partnership with more than 10,000 retailers and wholesalers, TBI Bank serviced more than a million clients and issued almost 500,000 loans in 2020. Its successful business model and approach to clients has allowed the bank to become one of the most profitable and effective in South-eastern Europe.
This article was edited by expert copywriter and proofreader Vicki Leigh. Find out more about her professional writing and editing services at twoflowercactuscreative.com
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