STOCKHOLM, Feb. 6, 2020 /PRNewswire/ -- TF Bank has
decided to expand the segment reporting as from the first quarter
2020. Ecommerce Solutions will be split into two business segments,
Ecommerce Solutions and Credit Cards. The change will be in line
with our ambition to be transparent to the bank's
stakeholders.
In the Ecommerce Solutions segment, TF Bank offers digital
payment solutions to both online and brick and mortar retailers, as
well as credit cards to creditworthy individuals. As from the first
quarter of 2020 management will allocate resources and evaluate
results based on the two different business segments. The change
has been initiated as a result of the ongoing expansion of credit
cards in Germany. Comparative
figures for 2019 will be recalculated according to the expanded
segment reporting and presented in the subsequent interim reports.
TF Bank's CEO Mattias Carlsson has
been appointed Acting Head of the new Credit Cards segment.
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.
For further information, please contact:
Mikael Meomuttel,
CFO and Head of Investor Relations
+46(0)70-626-95-33
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The following files are available for download:
https://mb.cision.com/Main/13973/3028594/1188921.pdf
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