TBI Bank Wrap-Up

15.10.2020    Share +

TBI Bank Wrap-Up

Hey there, your one and only Wrap-Up is here. It’s been such a strange summer, don’t you think? First, we had no plans, then we started planning everything short-term, then plans changed, but eventually… Well, it’s been both fun and challenging, hasn’t it? Probably still not as fun and challenging аs it was for the Bulgarian guys who crossed the Atlantic rowing in a self-made boat (no kiddin’, here’s the story).

Looking back at our professional summer, we at TBI Bank didn’t chill a lot. You know, they say when life gives you lemon, you can make lemonade. So, we took the lemons from the new reality, flavored them with our creative ideas and mixed them into something cool. You’ll read more about the mix in the next lines. Let’s go!


TBI Bank’s Wrap-Up Q3

What we achieved

We are still very profitable and efficient

Success in business often comes with being able to adapt quickly to all circumstances. Back in April we at TBI Bank adjusted our strategy and financial expectations and additionally developed an Anti-Covid action plan. It is based on four pillars: cost optimization, liquidity management, and even more crucially ensuring our customers’ and teams’ safety. And what are the results of all this? The performance in the first half of 2020 exceeded the revised outlooks. Our net profit amounted to EUR 8.2 million, that is only 16% lower than in the same period of pre-crisis and record profitable fоr us 2019. Kudos to the whole team for such a performance during these turbulent times!


A hybrid strategic meeting – turns out it works

It felt a little bit like the good old days (from a year ago). At the end of summer our team gathered for its traditional strategic session. All gadgets were left aside, and we had a passionate all-day discussion on future projects. Inspiration, ideas, good laughs are always part of the process, but this time there was one big difference: some colleagues joined online. It worked. We’ve came up with plenty of new stuff – phygital products and services for our customers satisfaction. Can’t wait to tell you more – stay tuned.


You repay what you’ve borrowed

Oh, and speaking of such products, here’s one: Now our Bulgarian clients may borrow from us as usual, and should they have a change of mind or plans – no problem – they return to us as much as borrowed within 30 days. Without paying any interest and fees! Тhat’s the inclusivity we’ve been telling you for some time now. And since we want more people to know about our convenient offer, we’ve dedicated our new TV ad to it. The campaign tells the story of TBI Bank helping every 5th Bulgarian and always giving its customers the opportunity to try something new without feeling any uncertainty. We’ve said too much already, actually just look at the ad, we love it, hope you do, too.


We learn from the best – and they learn from us

We’ve mentioned a couple of times that on the walls of our HQs in Sofia and Bucharest there are many inspirational quotes. One of them is “An idea is nothing without execution”. That’s why we’re always open to share our know-how the same way as we constantly look at the market for inspiration. One of the companies we love looking at is the US payment card issuing unicorn Marqeta (this spring its valuation reached $4.3 billion). So, we were very thrilled that they invited us to participate in their White paper “Lending 3.0: Building a Better World for Lenders and Borrowers” prepared for LendIt Fintech, the fintech event of the year in the States. You can read the whole paper here, and that’s our Petr Baron’s thoughts on the latest lending trends.


Оur team continues to adapt to the “new normal”

Managing people has never been easy – it requires specific skills, leadership, empathy, and many more qualities. Currently, the challenge is even bigger since sometimes teams must be managed from the distance. The “new normal” they call it. In order to equip our managers to work in it, our HR team has launched an online training called “Managing Remote Teams”. It allows almost 200 line managers to learn leading their teams to success in the unprecedented reality we live in. We are sure this already has impact on the engagement of our team and the quality of our services.


How to turn a sales competition into a donation campaign

When at the beginning we said that life gave us lemons, we sure realize that there are many people whose life gave them much sourer lemons than us. Each year our team in Romania runs a competition among our partners in the automotive sector. The rules are simple – whoever sells more via TBIPay, gets a bonus. This year, together with the winners we’ve decided to donate the bonus, and what’s even better, our partners matched the amount. So, at the end we chose 6 children centers in Romania and provided them with financial support but also products and clothes based on the specific needs. That is the least we can do in such unprecedented times where the unprivileged suffer the most.


Where we failed

We didn’t do proper team buildings this year

You know, our team is big – TBI Bank has almost 1.500 employees in Bulgaria, Romania, Ukraine, plus a bunch of colleagues and partners working from all over the world. That is why we don’t make big team buildings for all of us (in fact we’ve thought about renting a whole beach and inviting every single colleague with his towel, but it’s still an idea). Instead, we split into smaller groups and even run internal competitions whose team buildings was cooler. Well, this year we’ve thought about making them safe and comfortable for everyone, but we really couldn’t find a way. So, we didn’t do proper team buildings. Our Christmas party might be in jeopardy as well. Usually at that time of the year we have a solid plan on what we want to do – for now however, no jingle bells have been heard.


Our plans

Hello, biometric identification

There are many ways to recognize a person in real life. However, online it’s hard and companies like us need to be especially careful when it comes to customer identification. So far, our digital lending relied on live video identification. However, by the end of the year we are planning to additionally launch biometric identification which will make the lending process even smoother and once again prove our concept to use cutting edge technology for easing the lives of our customers. Because, at the end of the day, their convenience and satisfaction are what really matters to us.


Finally, dear readers, we understand that in the upcoming months we might face new pandemic challenges. Our team would like to once again reassure you that we are working very hard to keep everyone safe – our customers, our thousands of employees, our families and loved ones and our societies.


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0700 17 571 / *8242

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Head office

1421 Sofia, Bulgaria,
52-54, Dimitar Hadjikotsev Str