July 5 (SeeNews) - TBI Bank, part of Luxembourg-registered consumer lending group 4finance Holding operating in Bulgaria and Romania, started offering deposit products on the German market in partnership with German fintech company Raisin, TBI said on Thursday.
TBI Bank has received an approval for conducting banking business on the German market by the Federal Financial Supervisory Authority (BaFin), TBI Bank said in a statement.
“By operating in one of the most economically sound and stable markets in the EU, TBI Bank will have access to stable funding and will further diversify and optimise its funding sources," said Lukas Tursa, senior vice president of financing at TBI Bank.
TBI Bank was Bulgaria's 18th biggest lender in terms of assets among 21 banks and five branches of foreign banks that operated in the country as at end-May, according to central bank data.