INTERIM REPORT  January-September 2016

Strong organic portfolio growth, operating income at record levels and lower loan losses. A strong quarter!"

Declan Mac Guinness President & CEO


THE PERIOD JANUARY-SEPTEMBER 2016 COMPARED WITH JANUARY-SEPTEMBER 2015

• Total operating income increased by 11.8 % to SEK 322.9 million

• The loan portfolio amounted to SEK 2,357 million on 30 September 2016, an increase of 28,2 % since the end of 2015

• Operating profit decreased by 1.2 % to SEK 97.5 million

• Adjusted operating profit increased by 8.8 % to SEK 116.8 million 1)

• Net profit increased by 1.6 % to SEK 76.4 million 

• Adjusted net profit increased by 11.5 % to SEK 91.4 million 1)

• The cost/income ratio was 38.1 % (35.0)

• CET1 capital ratio was 14.6 % and the total capital ratio was 18.6 %

• Earnings per share amounted to SEK 3.84 (3.59)

• Adjusted earnings per share amounted to SEK 4.54 (3.91) 1)

THIRD QUARTER, JULY-SEPTEMBER 2016 COMPARED WITH JULY-SEPTEMBER 2015

• Total operating income increased by 15.6 % to SEK 114.2 million

• Operating profit increased by 49.4 % to SEK 43.1 million

• Adjusted operating profit increased by 18.6 % to SEK 44.5 million 1)

• Net profit increased by 68.6 % to SEK 34.1 million

• Adjusted net profit increased by 30.4 % to SEK 35.1 million 1)

• The cost/income ratio was 37.2 % (37.3)

• Earnings per share amounted to SEK 1.70 (0.98)

• Adjusted earnings per share was SEK 1.75 (1.29) 1)

SIGNIFICANT EVENTS, JANUARY-SEPTEMBER 2016

• On 14 June TF Bank listed its shares on Nasdaq Stockholm. The offer was well received by the market. In total 5,661,553 shares (26.3 %) offered at SEK 77 per share.

• The Norwegian subsidiary BB Finans AS submitted an application for a bank license to the Norwegian Financial Supervisory Authority 23 June. The company has a goal of obtaining a Norwegian bank license before the end of 2016.

• In the third quarter TF Bank opened an office in Latvia. New lending in the Direct to Consumer segment started in October.

1) Adjustments have been made for one-off costs related to the initial public offering.

For further information please contact:

Sture Stölen, Investor Relations, +46 723 68 65 07, ir@tfbank.se

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 and Finland, lending to retail customers in Norway, Poland, Denmark, Estonia and Latvia.

As at 30 June, 2016, TF Bank had an outstanding loan portfolio of SEK 2 185 million. TF Bank has grown its total operating income from SEK 272 million in 2012 to SEK 388 million in 2015, corresponding to a compounded annual growth rate of 13 percent.

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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