Avarda signs an agreement with a large Nordic merchant

Avarda AB, a subsidiary till TF Bank, has signed an agreement with a large Nordic merchant. Fully implemented, the total volume from this agreement is expected to be around 500 million SEK.

The agreement extends over a minimum of 18 months from the launch date, which is expected to be during the fourth quarter 2017. "We are obviously very happy that Avarda was chosen. It is further proof that we have a competitive product." - Declan Mac Guinness, CEO, TF Bank. 

For further information please contact:

Declan Mac Guinness, +46 707 22 82 97, declan.macguinness@tfbank.se

The information provided in this press release is such that TF Bank AB (publ) is required to disclose pursuant to the Swedish Financial Instruments Trading Act (1991:980), the Swedish Securities Markets Act (2007:528) and/or Regulation (EU) No 596/2014 on market abuse. The information was provided on 19th June, 2017 at 21.00 CET.

About TF Bank

TF Bank is an online-based niche bank offering consumer banking services through a highly automated, in house developed, IT platform. The Company’s IT platform is designed for scalability and adaptability to different products, jurisdictions, currencies and digital banking solutions. TF Bank conducts banking operations with deposits and lending to retail customers in Sweden, Finland and Norway as well as lending to retail customers in Poland, Denmark, Estonia and Latvia.

About Us

TF Bank was founded in Sweden in 1987 for the purpose of offering financing solutions to customers who ordered goods from mail-order catalogues. Over time, the Group has grown both in terms of product offering, profit and geographical reach. Currently, TF Bank offers consumer banking services through a highly automated, in-house developed IT-platform designed for scalability and adaptability to different products, jurisdictions, currencies and digital banking solutions. TF Bank conducts banking operations with deposits and lending to private customers in Sweden and Finland, lending to private customers in Norway and Poland as well as cross-border lending in Denmark, Estonia and Latvia. The Group’s principal business is lending to the public through two segments: Direct to Consumer and Sales Finance. Direct to Consumer comprises mainly of loans of limited amounts to private customers. Sales Finance provides funding solutions for the handling of invoice and instalment payments.

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