Financial effects as a result of the transfer of a majority stake in the subsidiary Rediem Capital AB
On 19 December 2024, TF Bank AB (publ) ("TF Bank" or the "Bank") announced that the closing date for the transfer of the majority stake in the subsidiary Rediem Capital AB ("Rediem") to Alektum Holding AB (publ) and Erik Selin Fastigheter Aktiebolag had been expedited. Furthermore, it was announced that the Bank would provide further information on the financial effects of the transfer on the Bank's financial records, which is included in this press release.
The closing of the shares in Rediem took place on December 20, 2024, with the preliminary purchase price amounting to SEK 472 million for the transfer of 80.1 percent of the shares. The transaction is estimated to have a positive one-off effect on the Group's profit before tax of SEK 103 million and a positive capital effect of SEK 345 million in the fourth quarter of 2024. The capital effect corresponds to 2.0% of the Bank's risk exposure amount. The final purchase price will be determined once the closing accounts have been audited by the Bank’s auditor and is expected to impact the Group's earnings in the first quarter of 2025. As a direct consequence of the transaction, the Board of Directors plans to consider the conditions for proposing an extraordinary one-off dividend of SEK 5.00 per share to the 2025 Annual General Meeting.
The figures are preliminary and not audited by the Bank's auditors. Further details will be disclosed in connection with TF Bank’s year-end report for 2024 on January 20, 2025.
For further information, please contact:
Mikael Meomuttel, CFO and Head of Investor Relations +46 (0) 70 626 95 33
This is information which TF Bank AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was provided for publication, through the agency of the contact person set out above, on 13 January 2025 at 20.45 CET.
TF Bank in brief
TF Bank was founded 1987 and is a digital bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. Lending and deposit activities are conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany, Austria, Spain, Ireland, the Netherlands and Italy through subsidiary, branch or cross-border banking with the support of the Swedish banking license. The operations are divided into three segments: Credit Cards, Ecommerce Solutions and Consumer Lending. TF Bank is listed on Nasdaq Stockholm.