”Strong organic portfolio growth, operating income at record levels and lower loan losses. A strong quarter!”
Declan Mac Guinness President & CEO
The period January-September 2016 compared with January-September 2015
- Total operating income increased by 11.8 % to SEK 322.9 million
- The loan portfolio amounted to SEK 2,357 million on 30 September 2016, an increase of 28,2 % since the end of 2015
- Operating profit decreased by 1.2 % to SEK 97.5 million
- Adjusted operating profit increased by 8.8 % to SEK 116.8 million (1)
- Net profit increased by 1.6 % to SEK 76.4 million
- Adjusted net profit increased by 11.5 % to SEK 91.4 million (1)
- The cost/income ratio was 38.1 % (35.0)
- CET1 capital ratio was 14.6 % and the total capital ratio was 18.6 %
- Earnings per share amounted to SEK 3.84 (3.59)
- Adjusted earnings per share amounted to SEK 4.54 (3.91) (1)
Third quarter, July-September 2016 compared with July-September 2015
- Total operating income increased by 15.6 % to SEK 114.2 million
- Operating profit increased by 49.4 % to SEK 43.1 million
- Adjusted operating profit increased by 18.6 % to SEK 44.5 million (1)
- Net profit increased by 68.6 % to SEK 34.1 million
- Adjusted net profit increased by 30.4 % to SEK 35.1 million (1)
- The cost/income ratio was 37.2 % (37.3)
- Earnings per share amounted to SEK 1.70 (0.98)
- Adjusted earnings per share was SEK 1.75 (1.29) (1)
Significant events, January-September 2016
- On 14 June TF Bank listed its shares on Nasdaq Stockholm. The offer was well received by the market. In total 5,661,553 shares (26.3 %) offered at SEK 77 per share.
- The Norwegian subsidiary BB Finans AS submitted an application for a bank license to the Norwegian Financial Supervisory Authority 23 June. The company has a goal of obtaining a Norwegian bank license before the end of 2016.
- In the third quarter TF Bank opened an office in Latvia. New lending in the Direct to Consumer segment started in October.
(1) Adjustments have been made for one-off costs related to the initial public offering.
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