STOCKHOLM, Feb. 6, 2020 /PRNewswire/ -- "During the
fourth quarter, TF Bank's loan portfolio increased by 9 % in local
currencies. The expansion in Germany was intensified towards the end of the
year, and the credit card business is an exciting part of the
bank's future growth. After the year-end, the subsidiaries BB Bank
and Avarda were merged with TF Bank. The mergers simplify the legal
group structure and enable a higher internal efficiency." -
Mattias Carlsson, CEO
January - December 2019
compared with January - December
2018
- The loan portfolio has increased by 46 % to SEK 6,496 million during the
year
- Operating profit increased by 16 % to SEK 289.4
million
- Adjusted operating profit increased by 26 % to SEK 289.4
million
- Net profit increased by 16 % to SEK
221.9
million
- Adjusted net profit increased by 26 % to SEK 221.9
million
- Earnings per share increased by 14 % to SEK
10.01
- Adjusted earnings per share increased by 25 % to SEK
10.01
- Cost/income ratio decreased to 37.8 %
(39.4)
- Total capital ratio has decreased to 17.2 %
(17.4)
- Return on equity amounted to 30.6 %
(34.5)
- Adjusted return on equity amounted to 30.6 %
(31.6)
- The Board proposes to the Annual General Meeting a dividend of
SEK 0.50 per share for 2019
Significant events, January - December
2019
- Within the segment Ecommerce Solutions several new agreements
have been signed, and some major Nordic retailers have also chosen
to extend their existing
agreements
- Credit card operations in Germany have been strengthened by the
appointment of a country manager and the establishment of a a
service
subsidiary
- TF Bank has successfully issued subordinated Tier 2 bonds of
SEK 100 million to optimise the
capital structure and support further growth
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.
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 6 February 2020 at
07:00 CET.
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/year-end-report-january---december-2019,c3028598
The following files are available for download:
https://mb.cision.com/Main/13973/3028598/1188928.pdf
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