0RHM Tf Bank Ab

STOCKHOLM, July 13, 2021 /PRNewswire/ -- "It has been an eventful quarter with the implementation of BooztPay, continued high growth for German credit cards and several new agreements for continuing sale of past due loans. Following growth of 31 % in local currencies over the past year, TF Bank's loan portfolio now exceeds SEK 9 billion. The operating profit for the second quarter increased by 19 % to SEK 84 million."– Mattias Carlsson, CEO

January – June 2021 compared to January – June 2020

• The loan portfolio amounted to SEK 9,130 million, compared to June 2020 the increase in local currencies was 31 %
• Operating profit increased by 43 % to SEK 162.3 million, the comparison period was affected by an additional loan loss provision of SEK 30 million
• Earnings per share increased by 47 % to SEK 5.75
• Cost/income ratio increased to 41.7 % (37.9)
• Total capital ratio has decreased to 16.0 % (17.4) since year-end, which partly derives from repurchase of subordinated tier 2 capital of SEK 47 million
• Return on equity amounted to 23.9 % (20.1)

April – June 2021 compared to April – June 2020

• The loan portfolio amounted to SEK 9,130 million, compared to March 2021 the increase in local currencies was 7 %
• Operating profit increased by 19 % to SEK 83.6 million
• Earnings per share increased by 21 % to SEK 2.91
• Cost/income ratio increased to 42.4 % (38.1)

Significant events, January – June 2021

• TF Bank's e-commerce initiative Avarda launched a payment solution for Boozt's whole fast-growing ecommerce environment, which contributed to a 97% increase in transaction volumes during the quarter.
• The expansion in Germany continues and the German credit card portfolio has increased by 292 % during the last year.
• New agreements for continuing sale of past due loans have been signed and TF Bank now have agreements in place in all markets.

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 was founded 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 conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany and Austria through branch or cross-border banking. The operations are divided into three segments: Consumer Lending, Ecommerce Solutions and Credit Cards. TF Bank is listed on Nasdaq Stockholm.

This is information which TF Bank is required to disclose under the EU Market Abuse Regulation and the Securities Market Act. The information was provided for publication, through the agency of the contact person set out above, on 13 July 2021 at 07:00 CET.

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https://news.cision.com/tf-bank-ab--publ-/r/interim-report-january---june-2021,c3383905

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