Interim Report for January – June 2019

“In the second quarter, TF Bank once again delivered a strong operating profit; SEK 71 million, which is 32 % higher than the corresponding quarter in 2018. The profit growth is driven by the development in Norway and the Baltics. Once again, we delivered a strong quarterly growth in our loan portfolio, 11 %, providing conditions for both increased income and improved earnings during the second half of 2019.” – Mattias Carlsson, CEO

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

  • The loan portfolio has increased by 26.4 % to SEK 5,625 million since the start of the year
  • Operating profit increased by 33.6 % to SEK 136.2 million
  • Net profit increased by 34.0 % to SEK 105.1 million
  • Earnings per share increased to SEK 4.73 (3.65)
  • Cost/income ratio decreased to 37.8 % (40.2)
  • Total capital ratio has decreased to 15.7 % (17.4) since the start of the year
  • Return on equity amounted to 34.3 % (29.9)
  • Adjusted return on equity amounted to 31.7 % (29.9)

April – June 2019 compared with April – June 2018

  • Operating profit increased by 32.3 % to SEK 70.6 million
  • Net profit increased by 32.6 % to SEK 54.6 million
  • Earnings per share increased to SEK 2.45 (1.91)
  • Cost/income ratio decreased to 37.6 % (40.1)

Significant events, January – June 2019

  • Within the segment Ecommerce Solutions an agreement with Estonia’s largest online retailer Hansapost has been signed, and several Nordic retailers have also chosen to extend their existing agreements
  • New agreements for continuing sale of past due loans have been signed in several markets
  • TF Bank has established lending operations in Austria within the segment Consumer Lending

Presentation for investors, analysts and media

A live conference call will be held on 16 July at 08:15 CET , where CEO Mattias Carlsson and CFO Mikael Meomuttel will present the report and answer questions. The presentation material is written in English while the conference call will be held in Swedish. To participate, call +46 (0)8 5664 2704 or +44 (0)33 3300 9261. International investors will have an opportunity to ask questions in English during the Q&A session. A recording of the conference call, including the presentation material, will be available on the bank’s website,

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, Estonia, Latvia, Lithuania, Poland, Germany and Austria 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 and the Securities Market Act. The information was provided for publication, through the agency of the contact person set out above, on 16 July 2019 at 07:00 CET.