Three Bulgarian banks will support their capital and business projects with fresh capital Three Bulgarian banks - First Investment Bank, Teximbank and TBI Bank are planning to support their capital and business projects by attracting fresh capital. They have submitted documents to the Financial Supervision Commission for the issue of new shares or bonds. However, on February 20, the regulator suspended the first attempt of First Investment Bank AD, refusing to issue a prospectus confirmation for the initial public offering of shares. Currently, FIBank's capital amounts to BGN 110,000,000, distributed in the same number of shares with a face value of BGN 1 each. Fibank plans to accumulate up to BGN 200 million through the Bulgarian Stock Exchange AD. The move was one of the measures to meet the demands of the European Central Bank to fill the capital shortfall of EUR 263 million. The Financial Supervision Commission has sent a letter to Teximbank AD, Sofia, requesting additional information and documents regarding the confirmation of a prospectus for public offering and admission to trading on a regulated market of convertible unsecured bonds. In early February, the FSC decided to extend the deadline for TBI Bank EAD to submit a revised prospectus for initial public offering and admission to trading on a regulated market of an issue of subordinated, unsecured bonds. TBI Bank's ambitious goal is to become a digital bank with a wide range of online and mobile consumer and lending solutions for SMEs.
Source: Banker (13.03.2020)

TBI Bank will issue bonds TBI Bank SPJSC has received approval from the Financial Supervision Commission (FSC) to issue bonds. This is clear from the regulator's March 24 decision. The Commission has confirmed a prospectus for the initial public offering and admission to trading on a regulated market of an issue of subordinated, unsecured bonds to be issued by the bank. At the beginning of the month, FSC decided to extend the time given to TBI Bank in order to present its adjusted prospectus. The issue wold consist of 25,000 ordinary, interest bearing, registered, dematerialized, non-convertible, subordinated, unsecured, freely transferable bonds, with a nominal and issue value of EUR 1,000 each. The annual interest rate is fixed, payable annually, to be determined jointly by the issuer and the lead manager after the end of the subscription period, with a single maturity of the principal of the bond issue, with a maturity of 10 years from the date of issue. By its decision, the regulator enters TBI Bank as the issuer and the specified bond issue in the register of public companies and other issuers of securities kept by the FSC.
Source: Banker (26.03.2020)

TBI Bank with a record net profit of nearly EUR 23 million for 2019. TBI Bank's net profit increased by 58% and reached a record for the company EUR 22,9 million compared to the audited consolidated financial results. The bank showed growth above the market average in most business segments: its assets increased by 17% on an annual basis and at the end of 2019 reached EUR 465 million. The loans granted in 2019 amount to EUR 336 million, which leads to an increase in the total loan portfolio by 19%. At the end of 2019, it reached EUR 368 million. Household deposits also increased by 25% to EUR 281 million. In 2019 the return on the bank's assets is over 5%, the return on capital - 21%, and the return on serviced loans - over 30%.
Source: investor.bg (03.06.2020)