STOCKHOLM, March 13, 2020 /PRNewswire/ -- As previously
communicated in connection to the presentation of the year-end
report for 2019, TF Banks segment reporting will be expanded from
the first quarter 2020. Ecommerce Solutions is divided into two
business segments, Ecommerce Solutions and Credit Cards. Following
these changes TF Bank today discloses restated segment information
for 2019.
In the Ecommerce Solutions segment, TF Bank offers digital
payment solutions to both online and brick and mortar retailers.
Customers are mainly the end-consumers who use the bank's payment
solutions when they shop. During 2019, several new agreements have
been signed and a number of large Nordic retailers have chosen to
extend their existing agreements.
In the Credit Cards segment, TF Bank offers credit cards to
creditworthy individuals. Credit Cards are offered in Norway and Germany. The offering in Norway has been part of the Group since 2015,
while credit cards in Germany were
launched late 2018. At the end of 2019, more than 13,000 German
credit cards had been issued.
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. From 2020 the operations are divided into three segments:
Consumer Lending, Ecommerce Solutions and Credit Cards. 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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https://mb.cision.com/Main/13973/3058620/1210564.pdf
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Restated segment
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