Collector makes rearrangements to the income statement

In connection with the interim report for the period January-September 2020 Collector will make rearrangements to the income statement. The adjustments affect certain key ratios but do not impact the net profit. Historical financials are published in conjunction with this press release.

Collector will in connection with the interim report for the period January-September 2020, which will be published on October 22, make a number of adjustments to items in the income statement. Consequently, certain items in the income statement and certain key ratios will be affected. The adjustments do not have an impact on the net profit or the balance sheet. The purpose of the rearrangements is to increase comparability with other companies on the market.

Below is a summary of the main adjustments that have been made.

• Distribution costs to intermediaries are moved from the item Commission expense to the item Interest income and is accounted for as negative interest income
• Debt collection fees are moved from the items Interest income and Other income to the item Commission income
• Reminder fees are moved from the item Other income to the item Commission income
• Personnel expenses are separated from the item General and administrative expenses. The remaining expenses within the item General and administrative expenses are moved to the item Other expenses
• Revaluations of purchased debt portfolios are moved from the item Interest income to the item Credit losses, net

Historical financial development based on the new presentation format is attached to this press release and is also available on Collector’s website https://www.collector.se/en/about-collector/investors/financial-information/.

For more information, please contact:
Peter Olsson, CFO
Phone: +46 73 712 04 46
E-mail: peter.olsson@collectorbank.se

Madeleine Mörch, Finance & IR Manager
Phone: +46 73 712 04 52
E-mail: madeleine.morch@collectorbank.se
 

Collector is a challenger bank that offers financing solutions to private and corporate customers. Within the Private segment, the company offers lending to private individuals, invoice and payments by instalments to e-commerce and retail companies, credit cards and deposit accounts. The Corporate segment includes real estate lending, factoring and corporate lending directed mainly at small- and medium-sized enterprises and handling of portfolios of overdue receivables. The company has offices in Gothenburg (head office), Stockholm, Helsinki, Turku and Oslo. Collector AB (publ) is listed on Nasdaq Stockholm.

Collector AB (publ) 556560-0797 | Box 119 14, SE-404 39 Gothenburg | Exchange +46 10-161 00 00 | E-mail info@collectorbank.se | www.collector.se/en/