TBI Bank acquires minority stake in Norwegian digital bank Monobank ASA

TBI Bank announces that it has agreed to acquire a minority stake in Norwegian bank Monobank ASA. TBI Bank is investing c.€6 million for a c.9% stake in a private placement of Monobank’s shares, which are listed on an Oslo stock market.

Monobank, operating in Norway and Finland, is a niche digital bank focusing on consumer finance and has grown successfully and profitably in the Nordic region since launch in 2015, with a net loan portfolio of c.€360m. It is an advanced digital bank, with highly efficient and scalable operations based on innovative technology.

“We at TBI believe that this investment will allow us to share best practices and learnings with one of the leading Nordic fintech banks. This is consistent with our strategy to become a next generation digital lender”, says Petr Baron, CEO of TBIF Financial Services (TBI Bank).

“In addition, as part of 4finance Group’s broader strategy to develop its near-prime business in the Nordic region, this minority stake is the first step in exploring potential cooperation with Monobank.”