Year-end Report January – December 2023

The organic growth for the Bank’s loan portfolio amounted to 6 % in the fourth quarter, followed by record volumes in the Ecommerce Solutions and Credit Cards segments. The Bank’s operating profit increased by 21 % compared to the corresponding quarter 2022. In 2024, we plan to launch digital payment solutions in Germany and expand the credit card operations to Spain.– Joakim Jansson, CEO

January – December 2023 compared to January – December 2022

  • The loan portfolio amounted to SEK 17,871 million, compared to December 2022 the increase in local currencies was 24 %
  • Operating profit increased by 17 % to SEK 509.6 million, including restructuring costs of SEK 15.9 million during the third quarter
  • Earnings per share increased by 15 % to SEK 17.53
  • Cost/income ratio decreased to 41.6 % (43.1)
  • Return on equity amounted to 21.9 % (23.7)
  • Total capital ratio has increased to 15.9 % (15.6)

October – December 2023 compared to October – December 2022

  • The loan portfolio amounted to SEK 17,871 million, compared to September 2023 the increase in local currencies was 6 %
  • Operating profit increased by 21 % to SEK 138.6 million
  • Earnings per share increased by 18 % to SEK 4.66
  • Cost/income ratio decreased to 40.4 % (42.0)
  • Return on equity amounted to 21.5% (22.8)

Significant events, January –December 2023

  • The credit card business had a loan book growth of 78 % and economies of scale in the business model contributed to the operating profit increasing significantly.
  • At the beginning of October, the Nordic operations within the Ecommerce Solutions segment were transferred to the Bank’s wholly owned subsidiary Avarda AB.
  • In the end of the fourth quarter, the Bank launched deposit products in Spain, Ireland and the Netherlands.

To follow the conference call online, 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 854 9458 8030.

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 a digital bank offering consumer banking services and e-commerce solutions through a proprietary IT platform with a high degree of automation. Deposit and/or lending activities are conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany, Austria, Spain, Ireland and the Netherlands through subsidiary, 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 19 January 2024 at 07:00 CET.