Interim Report January – March 2023

TF Bank’s loan portfolio continues to grow strongly and the past year’s growth amounted to 28 % in local currencies. German credit cards continue to be the main driver of growth in the first quarter. Operating profit increased by 14 % to SEK 118 million compared to the first quarter of 2022 and the return on equity amounted to 22 %.– Mattias Carlsson, CEO

January – March 2023 compared to January – March 2022

  • The loan portfolio amounted to SEK 15,286 million, compared to March 2022 the increase in local currencies was 28 %
  • Operating profit increased by 14 % to SEK 117.6 million
  • Earnings per share increased by 13 % to SEK 4.07
  • Cost/income ratio amounted to 42.0 % (43.3)
  • Return on equity amounted to 22.2 % (24.5)
  • Total capital ratio has increased to 16.7 % (15.6) since year-end

Significant events, January – March 2023

  • The credit card business had a substantial loan book growth of 16 % during the quarter and economies of scale in the business model contributed to the operating profit increasing significantly.
  • TF Bank has issued Tier 2 bonds in the amount of SEK 150 million.
  • The Board has appointed Joakim Jansson as new CEO, starting no later than August 2023. The current CEO Mattias Carlsson will remain with the company as a Senior Business Advisor.

To participate in the conference call, 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:


SE: +46 (0)8 4468 2488 and enter the meeting code 830 6195 3376.

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 an internet-based niche 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 and Spain through 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 17 April 2023 at 07:00 CET.