STOCKHOLM, Oct. 17, 2021 /PRNewswire/ -- The Board of TF
Bank has today resolved on new financial targets. The superior
financial target is to double the loan portfolio to SEK 20 billion by the first half of 2025, which
means that organic growth in existing and new markets continues to
be highly prioritised. The new financial targets will
be presented more in detail by CEO and CFO at a telephone
conference in connection with the presentation of the interim
report for the period January - September
2021, Monday 18 October at 08.15 CET.
The targets means that TF Bank shall double the loan portfolio
to SEK 20 billion by the first half
of 2025 and at the same time achieve a return on equity well above
20 %. The Board of Directors retains its focus on the Bank's
capital structure and both the capital target and dividend policy
are left unchanged.
– Organic growth in existing and new markets continues to be
highly prioritised, which is reflected in the financial target that
the loan portfolio shall double to SEK 20
billion by the first half of 2025. The target should be seen
in relation to the fact that the size of TF Bank is of importance
and that the expansion of the bank's operations should lead to
significantly improved conditions to manage the increasing
regulatory complexity, says John
Brehmer, Chairman of TF Bank.
– Continued high profitability is a prerequisite to reach the
growth target, and the financial target that enables this is that
return on equity shall be well above 20 %. However, I would like to
emphasise that this level should be seen as a floor and also takes
into account somewhat higher expected capital requirements, says
Mattias Carlsson, CEO of TF
Bank.
For further information, please contact:
Mattias Carlsson, CEO +46 (0)70 374
33 80
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. The information was provided
for publication, through the agency of the contact person set out
above, on 17 October 2021 at
19:30 CET.
This information was brought to you by Cision
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The following files are available for download:
https://mb.cision.com/Main/13973/3434337/1481911.pdf
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