Interim Report January – March 2024

“TF Bank's loan portfolio has increased by 21% in local currencies over the past year. The credit card business in Germany drives the Bank’s organic growth and the German loan portfolio exceeded SEK 5 billion at the end of the first quarter of the year. The Group's operating profit increased by 25% compared to the corresponding quarter in 2023.”– Joakim Jansson, CEO

January – March 2024 compared to January – March 2023

• The loan portfolio amounted to SEK 18,799 million, compared to March 2023 the increase in local currencies was 21 %
• Operating profit increased by 25 % to SEK 147.9 million
• Earnings per share increased by 23 % to SEK 5.04
• Cost/income ratio improved to 40.0 % (41.7)
• Return on equity amounted to 22.1 % (22.3)
• Total capital ratio amounted to 15.8 % (15.9) and has been stable since the start of the year

Significant events, January – March 2024

• The credit card business had an organic loan book growth of 72 % and economies of scale in the business model contributed to the operating profit increasing significantly.
• Strong performance in the Ecommerce Solutions segment has resulted in an increase in operating profit of 113 %, mainly related to rising operating income in the Nordic region.

To follow the conference call online, please click on the link below. To ask questions dial in using the number indicated below approximately 15 minutes before the start of the conference and enter the meeting code:

Link: https://www.finwire.tv/webcast/tf-bank/q1-presentation-2024/

SE: +46 (0)8 4468 2488 end enter the meeting code 812 8235 1588 

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 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. Deposit and lending activities are conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany, Austria, Spain, Ireland and the Netherlands through subsidiary, branch or cross-border banking with the support of the Swedish banking license. The operations are divided into three segments: Consumer Lending, Credit Cards and Ecommerce Solutions. TF Bank is listed on 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 16 April 2024 at 07:00 CET.