Ikano Bank AB (publ) Year-End Report 2023

“In 2023, we have continued to deliver on our multiannual plan for profitable growth and we are well on our way to becoming a fully digital bank, with better opportunities to offer simple financial services that suit the needs of the many people and businesses.”

Henrik Eklund, CEO, Ikano Bank AB (publ)

Second half year 2023

• Operating result before loan losses increased to SEK 234 m (151) mainly because of higher operating income.
• Net Interest Income excluding leasing increased to SEK 1,085 m (1,018) as a result of improved margins.
• Net commission income decreased to SEK 148 m (172). The decrease is mainly explained by higher costs related to customer onboarding.
• Leasing Net increased to SEK 187 m (177)  as a result of increased margins.
• Loan losses amounted to SEK 384 m (335).

The increase is explained by the macro-economic situation in the markets where Ikano Bank conducts its operations.

• Operating result amounted to SEK -150 m (-184).

Full year 2023

• Operating result before loan losses increased to SEK 451 m (307) as a result of higher operating income.
• Net Interest Income excluding leasing increased to SEK 2,176 m (1,965).
• Net commission income decreased to EK 288 m (299).
• Leasing Net marginally increased to SEK 361 m (359).
• Loan losses amounted to SEK 754 m (633), largely depending on the macroeconomic situation.
• Operating result amounted to SEK -303 m (-337).

For definitions of performance measures, used to describe the Bank's operations, see the Bank's Annual Report 2022, page 71, available on the Bank's website: https://ikanobank.se/om-banken/ekonomisk-information.

Ikano Bank’s Interim Report in its entirety is available on the Bank’s website: www.ikanobank.se/om-banken/ekonomiskinformation.

This is information that Ikano Bank AB (publ) is required to disclose in accordance with the Securities Market Act. The information was submitted for publication on 27 February 2024 at 11:00 am CET.

For more information

Henrik Eklund, VD

tel: 010-330 40 00

email: communication@ikano.se

About Ikano Bank AB (publ)

Ikano Bank creates possibilities for better living by offering simple, fair and affordable services, enabling a healthy economy for the many people. Our offer includes savings and loan products for consumers, sales support services for retailers, and leasing and factoring solutions for businesses. We conduct business in Sweden, Denmark, Finland, Norway, the UK, Poland, Germany and Austria. Ikano Bank is a part of the Ikano Group who owns 51 % of Ikano Bank. Ingka Group, the largest IKEA retailer under franchise agreements with Inter IKEA Systems B.V., owns the remaining 49 % of the Bank. Ikano Bank’s head office is located in Malmö, Sweden and the company is registered in Älmhult, Sweden where the business was once founded.