STOCKHOLM, Oct. 24, 2019 /PRNewswire/ -- "TF Bank
continues to grow in the Nordics and the rest of Europe. Following a strong end, the loan
portfolio increased by 8 % during the third quarter, hence passing
SEK 6 billion. The operating profit
increased by 24 % to SEK 78 million
compared to the corresponding quarter in 2018. At the end of the
period, TF Bank successfully issued subordinated Tier 2 bonds of
SEK 100 million, which strengthen the
capital base and provide opportunities for further growth." –
Mattias Carlsson, CEO
January – September 2019
compared with January – September
2018 (unless otherwise stated)
- The loan portfolio has increased by 37 % to SEK 6,099 million since the start of the
year
- Operating profit increased by 30 % to SEK 214.1 million
- Net profit increased by 30 % to SEK
164.7 million
- Earnings per share increased by 28 % to SEK 7.43
- Cost/income ratio decreased to 37.3 % (39.8)
- Total capital ratio has decreased to 17.2 % (17.4) since the
start of the year
- Return on equity amounted to 33.8 % (30.9)
- Adjusted return on equity amounted to 31.4 % (30.9)
July – September 2019 compared
with July – September 2018
- The loan portfolio has increased by 8 % to SEK 6,099 million during the quarter
- Operating profit increased by 24 % to SEK 77.9 million
- Net profit increased by 23 % to SEK 59.7
million
- Earnings per share increased by 25 % to SEK 2.69
- Cost/income ratio decreased to 36.5 % (39.0)
Significant events, January – September 2019
- Within the segment Ecommerce Solutions several new agreements
have been signed, and some Nordic retailers have also chosen to
extend their existing agreements
- TF Bank has successfully issued subordinated Tier 2 bonds of
SEK 100 million to optimise the
capital structure and support further growth
- New agreements for continuing sale of past due loans have been
signed in several markets
Presentation for investors, analysts and
media
A live conference call will be held on 24
October at 08:15 CET, where CEO
Mattias Carlsson and CFO
Mikael Meomuttel will present the
report and answer questions. The presentation material is written
in English while the conference call will be held in Swedish. To
participate, call +46 (0)8 5664 2692 or +44 (0)33 3300 9270.
International investors will have an opportunity to ask questions
in English during the Q&A session. A recording of the
conference call, including the presentation material, will be
available on the bank's website,
https://www.tfbankgroup.com/en/section/investor-relations/.
For further information, please contact:
Mikael
Meomuttel, CFO and Head of Investor Relations
+46(0)70-626-95-33
TF Bank in brief
TF Bank 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. The platform is designed for scalability and
adaptability to different products, countries, currencies and
digital banking solutions. TF Bank carries out deposit and lending
activities for more than 2 million consumers in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany and Austria through subsidiary, branch or
cross-border banking. In its Ecommerce Solutions segment, TF Bank
offer next-generation payment and checkout solutions for online
retailers in the Nordics, Estonia
and Poland, and also credit cards
in Norway and Germany. TF Bank is listed at Nasdaq
Stockholm.
This is information which TF Bank is required to disclose
under the EU Market Abuse Regulation. The information was provided
for publication, through the agency of the contact person set out
above, on 24 October 2019 at
07:00 CET.
This information was brought to you by Cision
http://news.cision.com
https://news.cision.com/tf-bank-ab--publ-/r/interim-report-for-january---september-2019,c2939879
The following files are available for download:
https://mb.cision.com/Main/13973/2939879/1128566.pdf
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