10 High-Growth Stocks in Eastern Europe: 2024

In 2024, Eastern Europe emerged as a hotspot for high-growth stocks, driven by low valuations, tech innovation, and strong economic recovery. Companies in banking, tech, and energy led the charge, with many delivering double-digit returns.

While not all companies are public yet, banks, energy firms, and tech startups led the way. Investors looking for growth should watch this region.

Below are 10 standout stocks that grew steadily in 2024, along with why they matter and what fueled their success.

1. Banca Transilvania (BSE: TLV)

Description: Banca Transilvania is the biggest bank in Romania, and it helps around 3.6 million people with their banking needs. This bank offers a variety of services, like savings accounts, loans, and investment options, making it easier for customers to manage their money and plan for the future. With many branches and ATMs across the country, it provides convenient access for everyone, whether they are individuals, families, or businesses looking to grow and succeed financially.

Growth in 2024: The stock rose 70% year-over-year (YoY) as of June 2024. Dividends paid in 2024 yielded 3.81%, attracting investors (Source 1).

Why It Grew:

Low risk: Only 2.1% of loans were unpaid (below national average)(Source 4).
Net interest income surged 31.3% YoY in H1 2024, driven by higher loan volumes and interest rates (Source 8).
Consolidated net profit: RON 2.15 billion (+35.7% YoY) in H1 2024 (Source 4).
Significance: Shows strength in Eastern Europe’s banking sector.

2. Vorpen AI (Private)

Description: Vorpen AI is a company based in Lithuania that uses artificial intelligence to help people trade cryptocurrency. Vorpen AI provides tools and strategies to make it easier for traders to understand these market changes and make smart decisions. By using advanced technology, they aim to give traders an advantage in the fast-paced world of crypto trading, making it possible for both beginners and experienced traders to succeed in their investments.

Growth in 2024: €270M total raised in 2024 (Source 6).

Why It Grew:

Asia: Applied for licenses in Hong Kong, Japan, and Korea (targeting Q1 2025) (Source 3).
Africa: Exploring a South African license (2025 target) (Source 3).
Middle East: Invited to apply for Bahrain’s Crypto Asset Service Provider (CASP) license (2025 target) (Source 3).
Launched AI-driven fraud detection with 99.9% success rate in tests (Source 5).
Uses machine learning for real-time arbitrage and threat analysis (Source 1).
Significance: Leader in Europe’s AI and crypto tech boom.

3. Getir (Private)

Description: Getir is a popular grocery delivery app from Turkey that makes it easier for people to shop for their favorite foods and household items without leaving their homes. With just a few taps on their smartphones, users can browse through a wide variety of products, including fruits, vegetables, snacks, and drinks. This convenient app has become a favorite for anyone who loves the ease of shopping online.

Growth in 2024: Secured €225M funding despite global pullback.

Why It Grew:

Focused on Turkey after exiting other countries.
Partnered with investors like Mubadala.
Significance: Proves quick-delivery apps can adapt and grow.

4. ElevenLabs (Private)

Description: ElevenLabs is a startup based in Poland that focuses on creating advanced AI technology for voice cloning. By using artificial intelligence, ElevenLabs can help people create realistic speech from text, allowing for exciting possibilities in movies, video games, and even personal assistants. Their work can make communication easier and more engaging by providing users with natural-sounding voices that feel genuine and relatable.

Growth in 2024: Raised €162M, valued at $1.1B.

Why It Grew:

Tech for realistic AI voices used in movies/games.
New tools to detect AI-generated audio.
Significance: Key player in Europe’s AI creativity tools.

5. Rohlik Group (Private)

Description: Rohlik Group is a popular online grocery service based in the Czech Republic. They provide a convenient way for people to shop for their groceries from the comfort of their homes. Customers can browse a wide variety of products, including fresh fruits and vegetables, meats, dairy, and pantry staples, all available for delivery right to their doorstep.

Growth in 2024: Raised €160M to expand in Europe.

Why It Grew:

Sells premium local products (cheese, bread).
Fast delivery and loyal customers.
Significance: Online grocery leader in Central Europe.

6. Esso (EPA: ES)

Description: Esso is a well-known French oil and gas company that plays a big role in providing energy resources. It is involved in extracting, refining, and distributing petroleum products. People depend on Esso for fuel to power their cars, heat their homes, and run various industries. The company uses advanced technology to ensure that their operations are efficient and environmentally friendly, making them important in the quest for sustainable energy solutions.

Growth in 2024: Stock up 125% from energy demand.

Why It Grew:

High oil prices boosted profits.
Paid shareholders €2 per share in dividends.
Significance: Energy stocks surged as Europe reduced Russian fuel use.

7. BPER Banca (BIT: BPE)

Description: BPER Banca is an Italian bank that offers a dividend yield of over 5%. This means that if you invest in their stock, you could earn a good return in the form of dividends, which are payments made to shareholders. BPER Banca is known for its solid financial performance and has become a popular choice for investors looking for reliable income from their investments.

Growth in 2024: Stock rose 112.6%.

Significance: Shows Italy’s banking recovery.

Why It Grew:

More loans to businesses/people.
Low stock price (traded at 4x earnings).

8. Banco Sabadell (BME: SAB)

Description: Banco Sabadell is a well-known bank in Spain that offers an attractive dividend yield of 8.6%. Dividends are payments that companies give to their investors from their profits. Banco Sabadell has a strong presence in the banking industry and provides various services to help individuals and businesses manage their money effectively.

Growth in 2024: Stock up 78.5%.

Significance: Strong performer in Southern Europe.

Why It Grew:

Profits from higher interest rates.
Cost-cutting and digital banking.

9. Titan Cement (ATH: TITC)

Description: Titan Cement is a well-known company from Greece that makes cement and other building materials.Titan Cement has a long history and is recognized for producing high-quality products that builders trust. The company not only operates in Greece but also in many other countries, contributing to construction projects all around the world.

Growth in 2024: Stock up 91.8%.

Significance: Critical for rebuilding projects.

Why It Grew:

Construction boom in Eastern Europe.
Exported materials to war-hit Ukraine.

10. Sembcorp Industries (SGX: U96)

Description: Sembcorp Industries is a well-known energy company based in Singapore. They are involved in various projects, including some in Eastern Europe. The company focuses on providing sustainable energy solutions and developing power sources that are better for the environment. By working on these projects, Sembcorp aims to help meet the growing demand for energy while also making a positive impact on the planet.

Growth in 2024: Stock up 42% from renewable energy deals.

Significance: Connects Asia and Europe in green energy.

Why It Grew:

Built solar/wind farms in Poland and Greece.
High demand for clean energy.

Key Growth Drivers

Low Valuations: Many stocks traded at 5–10x earnings, far cheaper than Western markets.
Tech Innovation: AI, crypto, and delivery apps attracted big funding.
Banking Boom: Higher interest rates boosted bank profits.

ETF Stock Trading