4finance Completes Purchase of TBI Bank in Bulgaria
4finance Holding S.A. (the “Group”), one of Europe’s largest online and mobile consumer lending groups, has completed the purchase of TBI Bank EAD through the acquisition of 100% of TBIF Financial Services B.V. (“TBI” or the “Bank”) from its parent company, Kardan N.V., following receipt of all regulatory approvals.
The total consideration comprises a sum of approximately EUR 69 million, which was paid on closing, plus an adjustment to be paid based on the reviewed results of the acquired assets since 1 January 2016.
TBI is a consumer-focused financial group in Bulgaria and Romania with consolidated assets of EUR 272 million as of 30 June 2016, including EUR 175 million of customer loans. Funding is predominantly through customer deposits and customer accounts of EUR 169 million, representing 81% of total liabilities, as of 30 June 2016. Pro-forma summary financials for the combination of 4finance and TBI will be presented as part of the Group’s first half 2016 results publication at the end of August.
George Georgakopoulos, CEO of 4finance, commented:
“We are delighted to have completed the purchase of TBI Bank. This acquisition significantly increases our scale and profitability in two existing markets, Bulgaria and Romania, with a combined population in excess of 26 million.
“The Bank complements our existing consumer lending business and can help broaden our product range, for example into credit cards. It also has a strong deposit franchise and offers the opportunity to develop how we operate in other markets.
“This is an important strategic step as we build a sustainable business for the long term. We look forward to continuing the good relationship developed with the Bulgarian and Romanian regulators in recent months, and welcome TBI’s customers and staff to the Group.”
Notes to Editors
4finance is one of Europe’s largest and fastest growing online and mobile consumer lending groups with operations in 14 countries globally. Putting innovative data-driven analysis into all aspects of the business, 4finance has grown rapidly, issuing over EUR 3.0 billion to date in single payment loans, instalment loans and lines of credit.
4finance operates through a portfolio of market leading brands with strong regional presence including Vivus, SMSCredit and Zaplo. A responsible lender, offering simple, convenient and transparent products and service, 4finance is meeting growing customer demand from those under-served by conventional lending.
Established in 2008, 4finance has group offices in Riga (Latvia), London (UK) and Miami (USA), and operates in Argentina, Armenia, Bulgaria, the Czech Republic, Denmark, Finland, Georgia, Latvia, Lithuania, Mexico, Poland, Romania, Spain and Sweden. www.4finance.com
4finance (Investor Relations)
+44 (0)7766 697 950
Instinctif Partners (International Media)
David Simonson/Mark Walter
+44 (0)207 457 2020
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
CES Unveiled Amsterdam to Feature IoT, Smart Cities and Robotics17.10.2017 16:19 | Pressemelding
The Consumer Technology Association (CTA) announced today that more than 35 companies will showcase innovative products at the first-ever CES Unveiled Amsterdam, breaking the record for most exhibitors at an inaugural Unveiled event abroad. The event follows the fifth CES Unveiled Paris and serves as a preview of the innovative technology on display at CES 2018. CES Unveiled Amsterdam is scheduled to run from 1:30-5:30 PM on October 26, 2017 at the Beurs van Berlage. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171017006457/en/ “CES Unveiled Amsterdam is on track to break nearly all of our inaugural-year records for an Unveiled event abroad. From attendees to exhibitors, the tech community in the Netherlands and surrounding countries is showing unparalleled levels of interest in this event,” said Gary Shapiro, pre
Dropbox Brings Powerful Business-Grade Tools to Individuals with Dropbox Professional17.10.2017 16:00 | Pressemelding
Dropbox today launched Dropbox Professional, a new offering that introduces business-grade tools to help individual users store, share, and track work from a single, secure place. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171017006383/en/ Owners can add details on the materials in the Showcase at the top of the page. (Graphic: Dropbox) Dropbox Professional is designed to meet the needs of independent workers—a group that’s expected to rise to 47.6 million by 2022. The new offering brings together the most popular storage, sharing, and support solutions from Dropbox with new ways to present work to help individuals showcase their creativity in the best light. “Work is becoming more fluid as the scope of projects that individuals can take on expands,” said Todd Jackson, Head
The New Foldable Smartphone ZTE Axon M with Dual Screens Transforms the Mobile Experience for Consumers17.10.2017 14:40 | Pressemelding
ZTE Mobile Devices today announced the category defining ZTE Axon M, a foldable smartphone with dual screens that delivers a revolutionary smartphone experience to enable consumers to multitask and enjoy content in a better way. The ZTE Axon M provides the multitasking capabilities of two screens and a viewable screen size of a tablet, yet is the size of a traditional smartphone when folded, fitting easily into a pocket. Coming soon to consumers through leading partners in the US, Japan, China and Europe, the ZTE Axon M delivers new experiences never before seen in the smartphone market. “The ZTE Axon M is the beginning of true smartphone innovation, and ZTE is leading the way,” said Lixin Cheng, CEO of ZTE Mobile Devices. “The mobile technology ecosystem and consumer habits have evolved over the past several years, but the smartphone design has only slightly varied throughout that tim
Murex to Offer Cloud-Based Trading and Risk Management Solutions17.10.2017 14:00 | Pressemelding
Sibos - Murex, an industry leader in trading, risk management and processing solutions for capital markets, announces it has certified its MX.3 technology platform to run on Microsoft Azure. Since early 2016, Murex has collaborated with Microsoft to bring to market solutions enabling clients’ digital transformation. This collaboration has now come to fruition with the availability of support for the Murex MX.3 platform on Azure, as well as the planned integration of Microsoft SQL Server 2016 as a relational database for MX.3. Murex has certified Azure for its most demanding use cases including GPU-powered solutions for computationally intensive workloads. This enables Murex clients to leverage the flexibility and economies of scale of the cloud to meet new requirements. Those opting to adopt cloud as part of their infrastructure will continue to benefit from the full support
euNetworks Partners with Cloudwirx17.10.2017 14:00 | Pressemelding
euNetworks, a provider of bandwidth services in Europe, today announced it is working with Cloudwirx, enabling their West Coast client base with rapid access to euNetworks high bandwidth services. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171017006083/en/ Brady Rafuse, Chief Executive Officer of euNetworks (Photo: Business Wire) Cloudwirx is a leading procurement and systems integrator for data centre and bandwidth infrastructure services, helping companies source, build and optimise their IT systems and networks. Whether it’s for a start-up or Fortune 100 company, Cloudwirx matches enterprises with the right technologies, services, and suppliers, with the goal of decreasing costs while increasing the value add of their IT systems. They have a growing client base who, while predominantly U
Asseco SEE’s Enterprise Fraud Monitoring & Prevention Solution InACT® is in GarantiBank NV17.10.2017 13:59 | Pressemelding
Asseco SEE (ASEE), part of Asseco Group, 6th largest software vendor in Europe, announced today, that GarantiBank NV, member of BBVA Group, has deployed InACT® Enterprise Fraud Management to prevent and monitor fraud. Chosen by leading international banks and financial institutions to stop internal and external fraud activities since 2009, an additional tailor-made file management module has been developed for GarantiBank NV to manage SWIFT and SEPA transactions for the project. InACT® File Management Module checks and resolves SWIFT and SEPA message files regularly and filters through InACT® fraud scenarios. Also, InACT® produces alarms for managers to prevent fraudulent activities by identifying related files. With this infrastructure developed by ASEE, GarantiBank NV intends to enhance its fraud monitoring activities on a digital platform rather than manual controls. This change is
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom