RIGA, Letland–(BUSINESS WIRE)— 4finance Holding S.A. (the “Group”), een van de grootste online kredietverstrekkers in Europa, heeft de aankoop van TBI Bank EAD afgerond. De kredietverstrekker heeft TBIF Financial Services B.V. volledig overgenomen van zijn moedermaatschappij, Kardan N.V., na ontvangst van alle wettelijke goedkeuringen.
Met de transactie is een bedrag van circa 69 miljoen euro gemoeid. Dit bedrag wordt mogelijk gewijzigd op basis van de herziene resultaten van de overgenomen activa na 1 januari 2016.
TBI is een op consumenten gerichte financiële dienstverlener in Bulgarije en Roemenië waarvan de activa op 30 juni 2016 zijn vastgesteld op 272 miljoen euro, waarvan 175 miljoen aan leningen.
4finance Completes Purchase of TBI Bank in Bulgaria
RIGA, Latvia–(BUSINESS WIRE)– 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
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