Q2 Interim report January – June 2019


JANUARY – JUNE 2019 (COMPARED WITH JANUARY – JUNE 2018)

  • Revenue increased by 0.5% to SEK 224.8 million (223.7)
  • Net interest income increased by 2.8% to SEK 152.5 million (148.3)
  • Profit before tax (EBT) decreased by 22% to SEK 69.3 million (88.9)
  • Cost/income ratio increased to 0.28 (0.23)
  • The return on equity was 30%


“During the second quarter, we converted to IFRS that together with other strategic investments are important steps towards realizing our vision of becoming a challenger neo-bank with an international presence. We have also introduced the second product under Rebilla, a unique loyalty program we named Rebilla Reward, that lowers the interest rate every time a customer pays their invoice on time. The two Rebilla product launches strengthen us in our belief, and prove, that our product-oriented and agile organization enables the strong innovative focus and makes it possible for us to continue to deliver on our ambitious targets. We have always put a strong emphasis on being able to quickly scale up and we are now experiencing the benefits of our long-term investments in people, processes and technology”, said Hikmet Ego, CEO and Co-founder Northmill. 

The interim report Q2 2019 can be downloaded here.

 
For more information, please contact:



Tobias Ritzén, CFO
+46 72-534 97 61
tobias.ritzen@northmill.com


This information is information that Northmill Group AB (publ) is obliged to make public pursuant to the Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on August 30, 2019.

About Us

Northmill is a tech-bank with the vision of improving everyone’s financial life. Founded in Stockholm, Sweden in 2006, Northmill develops customer-centric and accessible products that help everyone save money and time. Northmill has 200 000 customers and 145 employees, with over 50 percent working with IT, in three countries. Northmill Bank AB acts under the supervision of Finansinspektionen, the Swedish Financial Supervisory Authority and is subject to the Banking and Financing Business Act (2004:297). www.northmill.com.

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The two Rebilla product launches strengthen us in our belief, and prove, that our product-oriented and agile organization enables the strong innovative focus and makes it possible for us to continue to deliver on our ambitious targets.
Hikmet Ego, CEO at Northmill