TBI Bank EAD, a subsidiary of the 4Finance International Group, announced that it has reached an agreement to acquire a minority stake in Norwegian bank Monobank ASA. The company will invest around 6 million euros for a stake of about 9% of Monobank shares listed on the Oslo capital market.
Monobank is a niche bank with operations in Norway and Finland focusing on consumer lending, which has been boosted since its launch in 2015 and now has a net loan portfolio of around 360 million Of euro. Monobank is a digital bank with efficient and scalable operations, based on innovation and state-of-the-art technologies.
“At TBI, we believe that this investment will allow us to share best practices with one of the finest fintech banks in the Nordic region, in line with our strategy to become a state-of-the-art digital creditor,” said Petr Baron, CEO of TBIF Financial Services (TBI Bank EAD). “In addition, as part of our broader 4Finance group strategy to grow our business in the Nordic region, this minority share package is the first step in exploring future collaboration with Monobank.”
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