Resurs Bank dissolves the extra credit provision of SEK 75 million which was made due to COVID-19

In April 2020, Resurs Bank made an extra credit provision of SEK 75 million due to COVID-19, in accordance with IFRS 9. The Board of Resurs Bank AB has today resolved to dissolve the extra credit provision in its entirety.

Resurs has not noted any negative trend in customer payment patterns and uncertainty regarding the ongoing economic recovery and the trend in unemployment and its associated effects on customers’ solvency have declined significantly, with credit quality instead improving. As such, the Board of Directors has resolved to dissolve the extra credit provision of SEK 75 million in its entirety, which will impact earnings positively for the third quarter of 2021.

More information:
Sofie Tarring Lindell, CFO & Head of IR, sofie.tarringlindell@resurs.se, +46 73 644 33 95

ABOUT RESURS BANK
Resurs is a Nordic niche bank that offers leading payment and financing solutions for the retail industry and its customers. We help companies and private individuals with lending, saving and payments. With more than 40 years of experience in the retail sector, we make shopping online and in stores quick, easy and secure. We focus on the customer experience and make good things happen and the hard feel easier. We have a customer base of about 6 million private customers. At the end of the first half of 2021, the Group had 666 employees and a loan portfolio of SEK 31.1 billion. When we use the term “Group” in this report, we are referring to the Resurs Bank Group.

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