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April 6, 2018

Online challenger Banco BNI Europa sees equity investment

Lisbon-based online challenger Banco BNI Europa has attracted equity investment and posted net income of €2.3m in 2017.

By Brian Cantwell

Lisbon-based online challenger Banco BNI Europa has attracted equity investment and posted net income of €2.3m (£2.01m) in 2017.

The bank saw a 41% increase in assets (from €362m in 2016 to €509m in 2017), 16% in customer deposits (from €262m in 2016 to €305m in 2017).

Net income reached €2.3M, increasing regulatory capital to €23.3M and the solvency ratio comfortably above the statutory limit at 13%.

Banco BNI Europa attracted the interest of several potential equity investors, and Banco de Negócios Internacional, SA, its major shareholder, entered into an agreement with a foreign investor for the sale of a controlling stake in Banco BNI Europa and subsequent capital increase.

During 2017 Banco BNI Europa strengthened its digital banking business and launched, under the Puzzle brand, the first fully digital credit platform operating in Portugal, consolidated and extended Fintech’s partnerships and developed products and services, which in the course of 2018 will introduce more innovation in the Portuguese market, allowing the Bank to focus on segments that are not being explored by other financial institutions.

In the past Banco BNI Europa has assigned £163.3m of capital to p2p invoice finance platform MarketInvoice, and €50m to Funding Circle.

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