Interim report January – March 2021
STOCKHOLM, April 19, 2021 / PRNewswire / – “TF Financial institution’s growth continues and the mortgage portfolio has grown to 8.6 billion SEK on the finish of the primary trimester. The German bank card portfolio has grown 31% because the finish of the yr. Working revenue elevated to SEK 79 million and the mortgage loss ratio decreased to three.0%. After the top of the quarter, Boozt applied our cost resolution for its Nordic on-line shops.“- Mattias Carlsson, CEO
January – March 2021 in comparison with January – March 2020
- The mortgage portfolio amounted to SEK 8,643 million, because the finish of the yr, the rise in native currencies is 6%
- Working revenue elevated by 83% at SEK 78.6 million, the comparability interval was affected by a further allowance for mortgage losses of SEK 30 million
- Earnings per share elevated 90% to 2.84 SEK
- Value / revenue ratio elevated to 40.9% (37.8)
- The full capital ratio has fallen to 16.2% (17.4) because the finish of the yr, partly because of the buyout of Tier 2 subordinated personal funds from SEK 47 million
- Return on fairness is 24.1% (15.9)
Essential occasions, January – March 2021
- New agreements for the continuation of the sale of delinquent loans had been signed in Norway, Finland and Sweden within the shopper mortgage phase.
- Growth in Germany continues and the German bank card portfolio has grown by 31% because the finish of the yr.
Important occasions after the top of the reporting interval
- At April 6 2021, it was introduced that TF Financial institution‘s e-commerce initiative Avarda has launched a cost resolution for Boozt’s total fast-growing e-commerce surroundings, following a profitable pilot undertaking with Booztlet. com in fall 2020.
To extend transparency and understanding of its operations, TF Financial institution will start publishing month-to-month statistics on the entire dimension of the mortgage portfolio, new loans within the space of shopper loans, the quantity of transactions in e-commerce options. and the variety of bank cards lively in bank cards. Statistics will probably be revealed on a month-to-month foundation from Might 2021, excluding the reporting months the place the end result will probably be included within the interim reviews.
For extra data, please contact:
CFO and Head of Investor Relations
+46 (0) 70 626 95 33
TF Financial institution in short
TF Financial institution was based in 1987 and is an internet-based area of interest financial institution offering shopper banking and e-commerce options by a proprietary IT platform with a excessive diploma of automation. Deposit and mortgage actions are carried out in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany and Austria by branches or cross-border banking providers. The operations are divided into three segments: shopper loans, e-commerce options and bank cards.
That is data that TF Financial institution is required to reveal beneath the EU Market Abuse Regulation. The data has been supplied for publication, by the contact particular person talked about above, on April 19, 2021 at 7:00 am CET.
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SOURCE TF Financial institution AB (publ)