Interim Report January – September 2022

“TF Bank’s loan portfolio continues to increase and the third quarter’s growth amounted to 6 % in local currencies. The growth is achieved with high profitability and the quarter’s return on equity amounted to 24 %. We continue to gain market shares in Germany and during the third quarter we passed 100,000 active credit card customers.

– Mattias Carlsson, CEO

January – September 2022 compared to January – September 2021

  • Loans to the public amounted to SEK 13,598 million, compared to September 2021 the increase in local currencies was 29 %
  • Operating profit increased by 26 % to SEK 319.9 million
  • Earnings per share increased by 24 % to SEK 11.22
  • Cost/income ratio amounted to 43.7 % (41.5)
  • Return on equity amounted to 24.0 % (24.2)
  • Total capital ratio has decreased to 15.0 % (16.2) since year-end

July – September 2022 compared to July – September 2021

  • Loans to the public amounted to SEK 13,598 million, compared to June 2022 the increase in local currencies was 6 %
  • Operating profit increased by 21 % to SEK 110.4 million
  • Earnings per share increased by 18 % to SEK 3.86
  • Cost/income ratio amounted to 43.5 % (41.1)
  • Return on equity amounted to 23.6 % (25.2)

Significant events, January – September 2022

  • Lending operations in Denmark and Spain have been established in the Consumer Lending segment and in Austria within the Credit Cards segment.
  • New agreements for continuing sale of past due receivables have been signed in several markets within all segments.
  • High loan book growth within the credit card business during the third quarter has led to the Credit Cards segment now being the second largest segment within TF Bank.

Significant events after the end of the reporting period

  • Within the Ecommerce Solutions segment, the Bank signed an agreement with a major Nordic retailer which is expected to generate an annual transaction volume of more than SEK 2 billion.

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. 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 October 2022 at 07:00 CET.