Interim Report, January – September 2017

“TF Bank continues to grow and operating profit for the first nine months of the year was SEK 142.8 million, an increase of 22 % compared to the previous year and adjusted for items affecting comparability. The growth levels follow the bank’s long-term plan and lending to the public increased by 19 % to almost SEK 3 billion.” – Declan Mac Guinness, CEO.

The period January – September 2017 (compared with January – September 2016)

• Total operating income increased by 16.9 % to SEK 377.6 million

• The loan portfolio amounted to SEK 2,950 million on 30 September 2017, an increase of 18.5 % since the end of 2016

• Operating profit increased by 46.5 % to SEK 142.8 million

• Adjusted operating profit increased by 22.3 % to SEK 142.8 million*

• Net profit increased by 43.1 % to SEK 109.3 million

• Adjusted net profit increased by 19.6 % to SEK 109.3 million*

• The cost/income ratio was 37.0 % (38.1)

• CET1 capital ratio was 13.5 % and the total capital ratio was 16.7 %

• Earnings per share amounted to SEK 5.22 (3.84)

• Adjusted earnings per share amounted to SEK 5.22 (4.54)*

*Adjustments have been made for items affecting comparability related to the initial public offering.

Significant events, January – September 2017

• The subsidiary Avarda signed an agreement in June with a large Nordic merchant, Hobby Hall.

• TF Bank has started to offer deposits in Norway and Germany.

• The subsidiary BB Finans received approval in August to provide banking services in Norway and in connection with the approval changed its name to BB Bank ASA.

For further information, please contact:

Declan Mac Guinness, +46 707 22 82 97,

TF Bank in brief

TF Bank is an internet-based niche bank offering consumer banking services through its proprietary IT platform with a high degree of automation. The company’s IT platform is designed for scalability and adaptation to different products, countries, currencies and digital banking solutions. TF Bank carries out deposit and lending activities with consumers in Sweden, Finland, Norway, Denmark, Poland, Germany, Estonia and Latvia through subsidiaries, branches or cross-border banking.

This is information which TF Bank is required to disclose under the EU Market Abuse Regulation and the Securities Market Act. The information was provided for publication 26 October 2017 at 07:00 CEST.

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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