Qliro Groups subsidiary Qliro AB has received approval to change method for calculating the capital requirement for operational risk
Press release, Stockholm, 29 April 2020
The Swedish Financial Supervisory Authority has approved Qliro Groups subsidiary’s ABs application to use the so called alternative standardized method to calculate the capital requirement for operational risks. The approval strengthens Qliro ABs capital position. If the alternative method would have been used, as of 31 March 2020, the buffert towards the capital requirement would have increased to approximately SEK 120 million (previously approximately SEK 80 million), giving increased opportunities for continued growth.
If the alternative standardized method would have been used, as of 31 March 2020, Qliro AB’s Common Equity Tier 1 capital ratio would have improved to 17.7 percent (compared to previously reported 14.1 percent and the regulatory requirement of 9.1 percent). The Total capital ratio would have improved to 20.0 percent (reported 16.4 percent and regulatory requirement 13.2 percent).
For the consolidated situation the Common Equity Tier 1 capital ratio, as of 31 March 2020, would have been 22.9 percent (previously reported 18.8 percent) and the Total capital ratio to 25.3 percent (reported 20.8 percent).
For more information please contact:
Andreas Frid, Investor Relations Qliro AB
Telephone: +46705290800
E-mail: andreas.frid@qliro.com
About Qliro AB
Founded in 2014, Qliro is a leading Nordic fintech company offering flexible payment solutions for e-commerce merchants and favorable savings accounts and loans for consumers. Since 2014, Qliro has grown quickly. Its payment solutions have been used by more than 4 million Nordic customers and business volume in the last 12 months exceeds SEK 5 billion. Qliro has its registered address in Stockholm and is a credit market company under the supervision of the Swedish Financial Supervisory Authority (FI). Qliro is a subsidiary of the listed company Qliro Group.
About Qliro Group
Qliro Group is a leading Nordic e-commerce group in consumer goods and related financial services. Qliro Group operates the leading Nordic marketplace CDON, the online fashion brand Nelly.com and Qliro AB that offers financial services to merchants and consumers. In 2019 the Group had sales of SEK 2.9 billion. Qliro Group’s shares are listed on the Nasdaq Stockholm Mid-Cap segment under the ticker symbol QLRO.
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