Lars Wollung to resign from the Board of Directors as of from March 1, 2017

TF Bank AB (publ) (Nasdaq Nordic Exchange: TFBANK) has been informed by Lars Wollung that he will resign from his position inon the Board of Directors of TF Bank.

On 25th January 2017, the Nomination Committee of Nordea Bank AB (publ) proposed Lars Wollung as a new member of Nordea’s Board of Directors. To comply with the regulation on the maximum number of Board assignments he has decided to resign from his position on the Board of Directors of TF Bank as from 1st March, 2017.

To comply with the regulation on the maximum number of Board assignments, he has therefore decided to resign from his position on the Board of Directors of TF Bank as from March 1, 2017.

The Board of Directors of TF Bankwill continue with six members.

For further information please contact:

Sture Stölen, Investor Relations, 46 723 68 65 07, ir@tfbank.se

The information provided in this press release/report is such that TF Bank AB (publ) is required to disclose pursuant to the Swedish Financial Instruments Trading Act (1991:980), the Swedish Securities Markets Act (2007:528) and/or Regulation (EU) No 596/2014 on market abuse. The information was provided on February 24 at 1715 CET.

TF Bank is an online-based niche bank offering consumer banking services through a highly automated, in house developed, IT platform. The Company’s IT platform is designed for scalability and adaptability to different products, jurisdictions, currencies and digital banking solutions. TF Bank conducts banking operations with deposits and lending to retail customers in Sweden and Finland, lending to retail customers in Norway, Poland, Denmark, Estonia and Latvia. 

As at December 30, 2016, TF Bank had an outstanding loan portfolio of SEK 2 489 million. TF Bank has grown its total operating income from SEK 272 million in 2012 to SEK 441 million in 2016, corresponding to a compounded annual growth rate of 13 percent.