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Year-end report January-December 2021

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Collector AB publishes the year-end report for the period January-December 2021.

FOURTH QUARTER OF 2021 (COMPARED TO THE FOURTH QUARTER OF 2020)

  • The loan portfolio amounted to SEK 36,214 million (31,828)
  • Total income amounted to SEK 705 million (568)
  • The C/I ratio amounted to 28.3% (37.8)
  • Profit before credit losses amounted to SEK 505 million (353)
  • The credit loss level amounted to 2.3% (2.7)
  • Operating profit amounted to SEK 303 million (143)
  • Net profit amounted to SEK 238 million (106) and earnings per share amounted to SEK 1.11 (0.46)
  • Return on equity amounted to 16.9% (8.1)
  • The CET1 ratio amounted to 13.9% (13.7) and the total capital ratio amounted to 15.7% (15.8)


JANUARY-DECEMBER 2021 (COMPARED TO JANUARY-DECEMBER 2020)

  • The loan portfolio amounted to SEK 36,214 million (31,828)
  • Total income amounted to SEK 2,649 million (2,162)
  • Total income adjusted for non-recurring items amounted to SEK 2,629 million (2,162)
  • The C/I ratio amounted to 30.0% (40.1)
  • The C/I ratio adjusted for non-recurring items amounted to 30.3% (39.4)
  • Profit before credit losses amounted to SEK 1,854 million (1,296)
  • Profit before credit losses adjusted for non-recurring items amounted to SEK 1,833 million (1,311)
  • The credit loss level amounted to 2.6% (2.8)
  • The credit loss level has not been adjusted for non-recurring items (2.6)
  • Operating profit amounted to SEK 970 million (437)
  • Operating profit adjusted for non-recurring items amounted to SEK 949 million (502)
  • Net profit amounted to SEK 766 million (333) and earnings per share amounted to SEK 3.53 (1.47)
  • Net profit adjusted for non-recurring items amounted to SEK 747 million (384)
  • Return on equity amounted to 14.1% (7.1)
  • Return on equity adjusted for non-recurring items amounted to 13.8% (8.3)
  • The CET1 ratio amounted to 13.9% (13.7) and the total capital ratio amounted to 15.7% (15.8)


CHANGED ACCOUNTING TREATMENT OF ADDITIONAL TIER 1 CAPITAL INSTRUMENT
During the fourth quarter of 2021 the accounting treatment of the SEK 500 million Additional Tier 1 Capital instrument, which was issued during the first quarter of 2019, has been changed. The interest expense for the Additional Tier 1 Capital instrument has previously been reported as interest expense under net interest income and is not tax deductible. From the fourth quarter of 2021, the Additional Tier 1 Capital instrument is classified as equity and interest expense is hence recognized through equity. Consequently, reported interest expense has decreased by c. SEK 10 million per quarter. The change enhances comparability with other banks.

Historical financial information has been adjusted and is presented on a comparable basis in this report. Quarterly historical information since the first quarter of 2020, according to the updated accounting treatment, is available on Collector’s website collector.se/en/about-collector/investors/ financial-information/.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
The Board of Collector AB has announced an intention to initiate a process to merge Collector AB with its wholly owned subsidiary Collector Bank AB. The purpose of the merger is to further simplify the corporate structure, achieve a more efficient use of internal resources and to optimize the capital position. Subject to approval by the shareholders at the 2022 annual general meeting, Collector AB will through the merger be absorbed by Collector Bank AB, which will be the remaining entity after the merger. The operations of the Group remain unchanged. See the separate press release published on 7 February 2022 for more information.

CONFERENCE CALL
A conference call will be held in Swedish on 9 February 2022 at 11:30 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 +46 850 558 359 or +44 3333 009 274. The presentation will be broadcasted live at: https://tv.streamfabriken.com/collector-q4-2021.

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, Head of IR & Communications
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 9 February 2022 at 07:30 a.m. CET.
 

Collector specializes in financing solutions for corporates and private individuals, with particular focus on small and medium-sized companies. We are the corporates' complement to larger traditional banks. The corporate offering includes real estate lending, corporate lending and factoring as well as payment solutions. Our services for private individuals include personal loans, invoice and payment by instalment services, credit cards and deposit accounts. The company has offices in Gothenburg (headquarters), Stockholm, Helsinki and Oslo. Collector AB (publ) is listed on Nasdaq Stockholm.

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

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