STOCKHOLM, April 25, 2019 /PRNewswire/ -- "The first
quarter showed record growth of 14 %, and the loan portfolio thus
exceeded SEK 5 billion – an important
milestone for TF Bank. Over the past year, the loan portfolio has
increased by 45 %. Once again, we deliver a strong quarterly
result: Operating profit amounted to SEK 66
million, an increase of 35 % compared to the corresponding
quarter in 2018." – Mattias
Carlsson, CEO
January – March 2019 compared
with January – March 2018 (unless
otherwise stated)
- The loan portfolio has increased by 14.4 % to SEK 5,090 million since year-end
- Operating profit increased by 35.1 % to SEK 65.6 million
- Net profit increased by 35.6 % to SEK
50.5 million
- Earnings per share increased to SEK
2.28 (1.73)
- Cost/income ratio decreased to 38.0 % (40.3)
- Total capital ratio has decreased to 16.3 % (17.4) since
year-end
- Return on equity amounted to 34.4 % (30.0)
- Adjusted return on equity amounted to 31.7 % (30.0)
Significant events, January – March
2019
- TF Bank has within its segment Ecommerce Solutions signed an
agreement with Estonia's largest
online retailer Hansapost
- New agreements for continuing sale of past due loans have been
signed in several markets
- The Board of Directors of TF Bank has decided to initiate a
process to simplify the legal group structure
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. The information was provided
for publication, through the agency of the contact person set out
above, on 25 April 2019 at
07:00 CET.
For further information, please contact:
Mikael
Meomuttel, CFO and Head of Investor Relations +46
(0)70-626-95-33
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---march-2019,c2796066
The following files are available for download:
https://mb.cision.com/Main/13973/2796066/1031285.pdf
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