Year-end report January – December 2017

”When 2017 is summed up, we look back on a successful year for TF Bank. The loan portfolio has increased by 27 % and the adjusted operating profit has increased by 21 %. Growth has been strong in mainly Norway and the Baltic countries. Diversification is one of the keywords in the business and during the year we have launched deposits in Norway and Germany, which gives us more options for financing loan growth in the coming years.”– Mattias Carlsson, acting CEO.

Full year 2017 compared with full year 2016 

  • Total operating income increased by 16.1 % to SEK 511.6 million
  • The loan portfolio amounted to SEK 3,156 million on 31 December 2017, an increase of 26.8 % during the year
  • Operating profit increased by 38.0 % to SEK 192.9 million
  • Adjusted operating profit increased by 21.3 % to SEK 192.9 million
  • Net profit increased by 35.3 % to SEK 147.8 million
  • Adjusted net profit increased by 18.9 % to SEK 147.8 million
  • The cost/income ratio was 37.0 % (38.6)
  • CET1 capital ratio was 13.2 % and the total capital ratio was 16.2 %
  • Earnings per share amounted to SEK 7.04 (5.47)
  • Adjusted earnings per share amounted to SEK 7.04 (6.16)
  • The Board of Directors proposes to the Annual General Meeting a dividend of SEK 2.25 (2.20) per share for 2017

Significant events, January - December 2017

  • The subsidiary Avarda signed an agreement in June with a large Finnish merchant, Hobby Hall.
  • TF Bank 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.
  • In November, TF Bank acquired Intrum Justitia’s 49 percent stake in Avarda AB. The subsidiary is now wholly owned.

For further information, please contact:
Mikael Meomuttel, CFO, deputy CEO and Head of Investor Relations +46 (0)70 626 95 33

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 8 February 2018 at 07:00 CET.

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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