TBI Bank has acquired CrediBul’s fast loans portfolio. The deal was closed on 3 August. Value of the deal was not announced publicly. Not long ago it became clear CrediBul was preparing its withdrawal from the Bulgarian market. CrediBul is the consumer financing subsidiary of the French banking group Societe Generale and is 100% property of Societe Generale Consumer Finance. Societe Generale Expressbank is also part of the Societe Generale Group. TBI Bank is property of the Dutch TBIF Financial Services, retail crediting subsidiary of the Dutch – Israeli Kardan Holding. TBIF Financial Services is operating on the Bulgarian market since 2002 and is owner of TBI Credit, TBI Leasing and TBI Rent. TBI Bank has long-term goal to become the preferred partner in the retail segments - consumer and targeted funding, and micro, small and medium enterprises in Bulgaria
Source: Capital (06.08.2012)

A new player appeared on the fast loans market. The Innimmo Financial Services company acquired CrediBul, owned by the consumer crediting subsidiary of Societe Generale - Societe Generale Consumer Finance. Innimmo Financial Services was set up especially for the deal as a subsidiary of Innimmo Investments, owned by Valeri Valchev. Valchev explained that the crediting resource would be secured mainly through the company’s own activity, as well as with credits attracted from banks. The deal for the acquisition of 100% of CrediBul by Innimmo Financial Services was finalised last week, while negotiations began in the beginning of the year. Valchev’s company will keep only one of the four lines of business developed so far – small, non-target and non-secured loans CrediHome of between BGN 200 – BGN 1,500 and will continue developing the micro credits segment. The remaining part of the portfolio Innimmo Financial Services sold to TBI Bank. The bank announced of the deal finalised on 3 August.
Source: Capital (10.08.2012)

TBI Bank, one of the newest banks on the Bulgarian market, will open its branch in Romania. The bank received BNB permission and has officially registered the branch in Romania. The branch in Romania “will follow the bank’s strategy” and “will offer consumer loans, credit and debit cards, deposits with attractive interest rate, business packages from SME and financing programs for micro and SME”, the bank’s statement said.
Source: Capital (25.10.2012)