STOCKHOLM, Oct. 25, 2018 /PRNewswire/ -- "The strong
growth continued during the third quarter and the loan portfolio
surpassed SEK 4 billion in August. At
the same time, the diversification of the bank's funding,
geographically and with longer maturity, has continued. Higher
interest income combined with lower loan losses increased the
operating profit of the quarter to SEK 63
million, which is 22 % higher than the corresponding quarter
in 2017." – Mattias Carlsson,
CEO.
January – September 2018
compared with January – September
2017
- Total operating income increased 20.6 % to SEK 455.4 million
- The loan portfolio increased 33.0 % to SEK 4,198 million year to date
- Operating profit increased 15.5 % to SEK
164.9 million
- Net profit increased 16.0 % to SEK 126.8
million
- Cost/income ratio at 39.8 % (37.0)
- Total capital ratio at 17.4 %, an increase of 1.2 percentage
points year to date
- Earnings per share increased to SEK
5.80 (5.22)
Significant events, January – September 2018
- In January Avarda launched a payment solution in Finland, together with several major
partners
- The Board appointed Mattias
Carlsson as new CEO of TF Bank. Mattias Carlsson has worked for the bank for
almost 10 years and has been serving as acting CEO since
November 2017
- TF Bank issued a Tier 1 capital instrument (AT1) of
SEK 100 million during the
period
- At the end of June, TF Bank launched two deposit products in
Germany with a fixed term of one
and two years, respectively
- TF Bank has established lending operations in Lithuania within the segment Consumer
Lending
After the reporting period
- The Board of TF Bank has established new financial targets and
dividend policy
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, Poland, Germany, Estonia, Latvia and Lithuania 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 25 October 2018 at 07:00
CET.
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/tf-bank-ab--publ-/r/interim-report-for-january---september-2018,c2653893
The following files are available for download:
http://mb.cision.com/Main/13973/2653893/932521.pdf
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