Strengthened capital position after Resurs Bank secures permit from Financial Supervisory Authority
The Swedish Financial Supervisory Authority has decided to permit Resurs Holding’s subsidiary Resurs Bank, in calculations of capital requirements for currency risk, to exempt items in foreign currency that have already been deducted from the capital base of the consolidated situation. For Resurs Bank, this applies to the goodwill that arose in connection with the acquisition of yA Bank AS in the autumn of 2015.
The decision also has a positive impact on Resurs Holding’s financial performance measures for total capital ratio and Common Equity Tier 1 ratio. Applied to the reported total capital ratio and Common Equity Tier 1 ratio for the consolidated situation as per 30 June 2017, the total capital ratio would have increased from 15.3 per cent to 15.9 per cent and the Common Equity Tier 1 ratio would have increased from 13.3 per cent to 13.9 per cent. In absolute terms, this corresponds to an increase of SEK 138 million or SEK 0.69 per share.
The permit from the Financial Supervisory Authority will be applied to capital ratio measures reported after 12 September 2017. The permit is valid until 31 December 2019, provided that regulations and their interpretation do not change. Resurs Bank intends to renew its permit after this period.
This information is such information that Resurs Holding AB is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication by Sofie Tarring on 12 September 2017 at 16:45 CEST.
About Resurs Holding
Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.5 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the second quarter of 2017, the Group had 742 employees and a loan portfolio of SEK 22.3 billion. Resurs is listed on Nasdaq Stockholm, Large Cap.