TF Bank AB (publ): January interim report

STOCKHOLM, July 12, 2022 /PRNewswire/ — “All segments posted record volumes as TF Bank new loans grew 52% for 4.0 billion Swedish crowns during the second trimester. The annual growth rate of the loan portfolio amounts to 32% in local currencies, including 8% in the last quarter. Operating profit increased by 28% compared to the second quarter of 2021.”Mattias CarlsonCEO

January – June 2022 compared to January – June 2021

  • Loans to the public amounted to 12,570 million Swedish crownscompared to June 2021 the increase in local currencies was 32%
  • Operating profit increased by 29% to 209.5 million Swedish crowns
  • Earnings per share increased 28% to SEK7.36
  • Cost/income ratio increased to 43.8% (41.7)
  • The return on equity amounts to 24.4% (23.9)
  • The total capital ratio has decreased to 15.5% (16.2) since the end of the year

April – June 2022 compared to April – June 2021

  • Loans to the public amounted to 12,570 million Swedish crownscompared to March 2022 the increase in local currencies was 8%
  • Operating income increased by 28% to 106.7 million Swedish crowns
  • Earnings per share increased 29% to SEK3.75
  • Cost/income ratio increased to 44.3% (42.4)
  • The return on equity amounts to 24.1% (23.5)

Significant events, January – June 2022

  • In June, TF Bank’s Avarda brand began a collaboration with Haypp Group in the Norwegian market, which is expected to generate around NOK 1 billion in annual transaction volumes.
  • Lending operations in Denmark and Spain were established in the consumer credit segment and in Austria within the Credit Cards segment.
  • New agreements for the continued sale of past due receivables were signed in several markets in all segments.

For more information, please contact:

Mikael Meomuttel, Chief Financial Officer and Head of Investor Relations +46 (0)70 626 95 33

TF Bank in brief

TF Bank was founded in 1987 and is an Internet-based niche bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. Deposit and lending activities are carried out in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany, Austria and Spain through branches or cross-border banking. Operations are divided into three segments: Consumer Credit, E-Commerce Solutions and Credit Cards. TF Bank is listed on Nasdaq Stockholm.

This is information that TF Bank is required to disclose under the EU Market Abuse Regulation and Securities Market Law. The information has been provided for publication, through the contact person indicated above, on July 12, 2022 at 07:00 CEST.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/tf-bank-ab–publ-/r/interim-report-january—june-2022,c3599972

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SOURCE TF Bank AB (published)

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