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.
This information was brought to you by Cision
http://news.cision.com
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The following files are available for download:
https://mb.cision.com/Main/13973/3383905/1444193.pdf
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