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Interim report January-March 2020

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Collector AB publishes the interim report for the period January-March 2020.

FIRST QUARTER 2020 (COMPARED TO THE FIRST QUARTER 2019)

  • The loan portfolio increased by 9% to SEK 29,327 million (26,968)
  • Total income decreased by 3% to SEK 492 million (508)
  • The C/I ratio amounted to 48.8% (43.2) and the adjusted C/I ratio amounted to 45.7%
  • The credit loss level amounted to 2.8% (1.3) and the adjusted credit loss level amounted to 2.1%
  • Operating profit amounted to SEK 44 million (202) and adjusted operating profit amounted to SEK 109 million
  • Earnings per share amounted to SEK 0.20 (1.54). The number of shares has increased from 102,690,502 to 205,381,004 during the period as a result of the rights issue
  • The CET1 ratio amounted to 13.5% (11.8) and the total capital ratio amounted to 15.6% (14.8)

SIGNIFICANT EVENTS DURING THE PERIOD

  • Collector carried out a rights issue of SEK 1,027 million (before issue costs) to strengthen the capital base
  • The Swedish Financial Supervisory Authority appointed an auditor to review and evaluate provisions for credit losses in relation to corporate lending
  • The Swedish Financial Supervisory Authority reduced the countercyclical buffer requirement to 0% after which Collector's capital requirements were lowered
  • Collector made an extra credit loss provisioning of SEK 50 million given the current uncertain macroeconomic environment amid Covid-19
EVENTS AFTER THE END OF THE PERIOD

  • Collector’s Annual General Meeting was held on 27 April 2020. Erik Selin was elected new Chairman of the Board and the Board now consists of eight members against the previous five

CONFERENCE CALL

A conference call will be held in Swedish on 5 May 2020 at 09:00 a.m. (CET), during which CEO Martin Nossman and CFO Peter Olsson will present the report. The presentation will be followed by a Q&A session. To participate in the conference call, dial +46 850 558 354 or +44 3333 009 260. The switchboard opens at 08:55 (CET). The presentation will be broadcasted live at: https://tv.streamfabriken.com/collector-q1-2020. The presentation material will be available in English and published in connection with the conference call on www.collector.se/en/, where the recorded version of the webcast will be available afterwards.

 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

This is information that Collector AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on 5 May 2020 at 07:30 a.m. CET.
 

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/

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