STOCKHOLM, July 16, 2019 /PRNewswire/ -- "In the second
quarter, TF Bank once again delivered a strong operating profit;
SEK 71 million, which is 32 % higher
than the corresponding quarter in 2018. The profit growth is driven
by the development in Norway and
the Baltics. Once again, we delivered a strong quarterly growth in
our loan portfolio, 11 %, providing conditions for both increased
income and improved earnings during the second half of 2019." –
Mattias Carlsson, CEO
January – June 2019 compared
with January – June 2018 (unless
otherwise stated)
- The loan portfolio has increased by 26.4 % to SEK 5,625 million since the start of the
year
- Operating profit increased by 33.6 % to SEK 136.2 million
- Net profit increased by 34.0 % to SEK
105.1 million
- Earnings per share increased to SEK
4.73 (3.65)
- Cost/income ratio decreased to 37.8 % (40.2)
- Total capital ratio has decreased to 15.7 % (17.4) since the
start of the year
- Return on equity amounted to 34.3 % (29.9)
- Adjusted return on equity amounted to 31.7 % (29.9)
April – June 2019 compared with
April – June 2018
- Operating profit increased by 32.3 % to SEK 70.6 million
- Net profit increased by 32.6 % to SEK
54.6 million
- Earnings per share increased to SEK
2.45 (1.91)
- Cost/income ratio decreased to 37.6 % (40.1)
Significant events, January – June
2019
- Within the segment Ecommerce Solutions an agreement with
Estonia's largest online retailer
Hansapost has been signed, and several Nordic retailers have also
chosen to extend their existing agreements
- New agreements for continuing sale of past due loans have been
signed in several markets
- TF Bank has established lending operations in Austria within the segment Consumer
Lending
Presentation for investors, analysts and media
A live conference call will be held on 16 July 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 2704 or +44 (0)33 3300 9261. 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 about 1 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. TF Bank is listed at
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 16 July
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---june-2019,c2863990
The following files are available for download:
https://mb.cision.com/Main/13973/2863990/1078015.pdf
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