Year-end Report January – December 2022

During the fourth quarter, TF Bank increased its market share and both the Credit Cards and the Ecommerce Solutions segments reached record volumes. TF Bank’s loan portfolio increased by 27 % in local currencies over the past year. The quarter’s operating profit amounted to SEK 114 million and is slightly affected by loan loss provisions related to the high level of new lending.– Mattias Carlsson, CEO

January – December 2022 compared to January – December 2021

  • The loan portfolio amounted to SEK 14,654 million, compared to December 2021 the increase in local currencies was 27 %
  • Operating profit increased by 23 % to SEK 434.0 million
  • Earnings per share increased by 21 % to SEK 15.18
  • Cost/income ratio amounted to 43.3 % (41.9)
  • Return on equity amounted to 23.6 % (24.4)
  • Total capital ratio has decreased to 15.6 % (16.2)

October – December 2022 compared to October – December 2021

  • The loan portfolio amounted to SEK 14,654 million, compared to September 2022 the increase in local currencies was 6 %
  • Operating profit increased by 16 % to SEK 114.2 million
  • Earnings per share increased by 13 % to SEK 3.96
  • Cost/income ratio amounted to 42.1 % (43.0)
  • Return on equity amounted to 22.8 % (25.4)

Significant events, January – December 2022

  • During the year, the credit card business had a loan book growth of 93% and economies of scale in the business model contributed to the operating profit improving by SEK 51 million.
  • Within the Ecommerce Solutions segment, the Bank signed an agreement and, at the end of December, launched a cooperation with the major Nordic retailer Jollyroom, which is expected to generate an annual transaction volume of more than SEK 2 billion.

Significant events after the end of the reporting period

  • The board has appointed Joakim Jansson as the new CEO, starting no later than August 2023. Mattias Carlsson will remain with the company as a Senior Business Advisor.
  • The Swedish Financial Supervisory Authority has given TF Bank permission to use the Alternative Standardised Approach to calculate the capital requirement for operational risk. The approval has strengthened all TF Bank’s capital ratios with approximately 1 percentage point as of 31 December 2022.

To participate in the conference call, please click on the Youtube link below or dial in using the number indicated below approximately 15 minutes before the start of the conference:


SE: +46 (0)8 4468 2488 and enter the meeting code 857 3984 6592.

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 20 January 2023 at 07:00 CET.