Interim Report for January – March 2019

“The first quarter showed record growth of 14 %, and the loan portfolio thus exceeded SEK 5 billion – an important milestone for TF Bank. Over the past year, the loan portfolio has increased by 45 %. Once again, we deliver a strong quarterly result: Operating profit amounted to SEK 66 million, an increase of 35 % compared to the corresponding quarter in 2018.” – Mattias Carlsson, CEO

January – March 2019 compared with January – March 2018 (unless otherwise stated)

  • The loan portfolio has increased by 14.4 % to SEK 5,090 million since year-end
  • Operating profit increased by 35.1 % to SEK 65.6 million
  • Net profit increased by 35.6 % to SEK 50.5 million
  • Earnings per share increased to SEK 2.28 (1.73)
  • Cost/income ratio decreased to 38.0 % (40.3)
  • Total capital ratio has decreased to 16.3 % (17.4) since year-end
  • Return on equity amounted to 34.4 % (30.0)
  • Adjusted return on equity amounted to 31.7 % (30.0) 

Significant events, January – March 2019

  • TF Bank has within its segment Ecommerce Solutions signed an agreement with Estonia’s largest online retailer Hansapost
  • New agreements for continuing sale of past due loans have been signed in several markets
  • The Board of Directors of TF Bank has decided to initiate a process to simplify the legal group structure

For further information, please contact:
Mikael Meomuttel, CFO and Head of Investor Relations +46 (0)70 626 95 33

TF Bank in brief
TF Bank is an internet-based niche bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. The platform is designed for scalability and adaptability to different products, countries, currencies and digital banking solutions. TF Bank carries out deposit and lending activities for about 1 million consumers in Sweden, Finland, Norway, Denmark, Poland, Germany, Estonia, Latvia and Lithuania through subsidiary, branch or cross-border banking. In its Ecommerce Solutions segment, TF Bank offer next-generation payment and checkout solutions for online retailers in the Nordics, Estonia and Poland. TF Bank is listed at Nasdaq Stockholm. 

This is information which TF Bank 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 25 April 2019 at 07:00 CET. 

About Us

TF Bank was founded in Sweden in 1987 for the purpose of offering financing solutions to customers who ordered goods from mail-order catalogues. Over time, the Group has grown both in terms of product offering, profit and geographical reach. Currently, TF Bank offers consumer banking services through a highly automated, in-house developed IT-platform designed for scalability and adaptability to different products, jurisdictions, currencies and digital banking solutions. TF Bank conducts banking operations with deposits and lending to private customers in Sweden and Finland, lending to private customers in Norway and Poland as well as cross-border lending in Denmark, Estonia and Latvia. The Group’s principal business is lending to the public through two segments: Direct to Consumer and Sales Finance. Direct to Consumer comprises mainly of loans of limited amounts to private customers. Sales Finance provides funding solutions for the handling of invoice and instalment payments.


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