Lea bank ASA reports Q3 and update on the redomiciliation project
Lea bank ASA reported a profit before tax of NOK 35 million for Q3 2024. Gross loans amounted to 7,353 MNOK. Equity at the end of the quarter was NOK 1,468 million.
Highlights of Q3 2024:
- Profit before tax NOK 35 million (after tax NOK 26.4 million)
- Net interest income of NOK 135.5 million
- Gross loan portfolio of NOK 7.4 billion
- Cost-income ratio (C/I) of 30.7%
- Book value per share of NOK 14.79
Group consolidated accounts including Swedish subsidiaries:
Profit before tax for Q3 2024 of NOK 29.8 million, and Profit after tax of NOK 21.2 million. Group financial profits were affected by scaling up the Swedish presence through the setup of Lea Bank AB and integration of Captum Group AB. Total assets amounted to NOK 8,678 million.
Update on the redomiciliation project:
Lea bank ASA will complete the redomiciliation to Sweden through a merger between Lea bank ASA and Lea Bank AB, with Lea Bank AB as the surviving entity.
Update on the merger and listing process:
· End of August the bank submitted application to the Norwegian Financial Supervisory Authority for approval of the merger plan – approval received 22 October 2024
· End of September the bank got approval of the merger plan from the General meeting
· End of September the bank submitted application to the Swedish Financial Supervisory Authority for approval of the merger plan
· Pending approval from the Swedish Financial Supervisory Authority, Lea Bank AB is set to operate under a Swedish banking license starting 2 January 2025.
The bank has started the process to change listing from Euronext Growth Oslo to Nasdaq First North Premier Growth Stockholm. Additionally, the bank has started a gradual build-up of a new headquarter in Gothenburg and establishment of a Norwegian branch.
Lea bank will present the results for the 3rd quarter of 2024 on Thursday, 24 October at 10:00 AM. There will also be an update of the ongoing redomiciliation project. The presentation will be broadcasted via Microsoft Teams. It is also possible to attend the presentation at the bank's premises at Holbergs gate 21, Oslo. Please RSVP indicating whether you will attend digitally or physically to ir@leabank.no.
The Teams link will be sent prior to the presentation.
Contact information:
Oddbjørn Berentsen, CEO
Tel: +47 22 99 14 00
Email: ir@leabank.no