Ikano Bank AB (publ) Interim Report, 30 June 2017: Growth in all markets

”During the first half of 2017, Ikano Bank continued to grow in all markets. Business volume increased by 12 percent and lending, including leasing, increased by 10 percent. Demand for the Bank's corporate products remains high and especially the Swedish market has developed well. Private lending has also developed well in the UK, Sweden and Denmark.”

Stefan Nyrinder, Managing Director, Ikano Bank AB (publ)

Results for the first half-year 2017
(Comparative figures are as of 30 June 2016 unless otherwise stated)

  •  Business volumes expanded by 12 percent to SEK 65,732 m (58,848)
  •  Lending including leasing increased by 10 percent to SEK 35,523 m (32,164)
  •  Deposits from the public rose by 16 percent to SEK 25,285 m (21,854)
  •  Operating profit decreased by 11 percent to SEK 361 m (406)
  •  Net profit for the period decreased to SEK 265 m (291)
  •  Net interest income decreased by 1 percent to SEK 982 m (993)
  •  Return on equity was 10.4 percent (13.9)
  •  The common equity Tier 1 capital ratio was 14.4 percent (13.5) and the total capital ratio was 16.7 percent (15.9)
  •  The liquidity reserve was SEK 4,303 m (4,933) and the total liquidity portfolio amounted to SEK 5,506 m (5,677)

Outlook for the remainder of 2017
Overall, the outlook for the second half of 2017 is positive and the development for the Bank is expected to continue to be good. It is still too early to draw any conclusions about how Brexit will affect the Bank's operations in UK and the strategy to grow on the UK market is firm. Recruitment of a new Managing

Director is on-going and is expected to be completed before the year end.

For definitions of alternative indicators used to describe the Bank's activities see the Bank's Annual Report for 2016 available on the Bank's website www.ikanobank.se/om-banken/ekonomisk-information
 

Ikano Bank’s Interim Report is available on the company website:
www.ikanobank.se/om-banken/ekonomisk-information 

Ikano bank AB (publ) is required to disclose the information in this document under the EU Market Abuse Regulation and the Securities Market Act. The information was made public 31 August at 13:00 (CET).
 

For more information
Stefan Nyrinder, MD
Tel: +46 (0)70 586 8414
Email: Stefan.Nyrinder@ikano.se
 

About Ikano Bank
Ikano Bank offers simple and attractive savings and loan products for consumers, sales support services for retailers, and leasing and factoring solutions for corporate customers. Ikano Bank has a presence in Sweden, Denmark, Finland, Norway, the UK, Poland, Germany and Austria, and is part of the Ikano Group’s Finance business area. For more information about the company, go to www.ikanobank.se

About Ikano
Ikano is a multinational group with operations in banking, insurance, housing and retailing. The Ikano Group was founded in 1988 and is owned by the Kamprad family. For more information, go to www.ikanogroup.com

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About Us

Ikano Bank offers simple and attractive savings and loan products for consumers, sales support services for retailers, and leasing and factoring solutions for businesses. Ikano Bank has a presence in Sweden, Denmark, Finland, Norway, the UK, Poland, Germany and Austria, and is part of Ikano Group.