STOCKHOLM, Feb. 7, 2019 /PRNewswire/ -- "TF Bank ended
2018 with a strong last quarter for both segments. The adjusted
operating profit of SEK 65 million
was 29% higher than in the corresponding quarter in 2017. Rising
interest income from a growing loan portfolio was the main driving
force behind the increased net profit. The loan portfolio increased
by SEK 252 million in the fourth
quarter and growth for the full year totalled 41%. Our ambition for
2019 is to achieve continued growth in carefully selected segments
and markets." – Mattias Carlsson,
CEO.
January – December 2018
compared with January – December
2017
- Total operating income increased by 22.7% to SEK 627.6 million
- The loan portfolio increased by 41.0% to SEK 4,449 million
- Operating profit increased by 29.6% to SEK 250.1 million
- Adjusted operating profit increased by 19.1% to SEK 229.8 million
- Net profit increased by 29.8 % to SEK
191.8 million
- Cost/income ratio was 39.4% (37.0)
- Total capital ratio was 17.4% (16.2)
- Earnings per share increased to SEK
8.75 (7.04)
- Adjusted earnings per share increased to SEK 8.01 (7.04)
- The Board proposes to the Annual General Meeting a dividend of
SEK 2.30 SEK
(2.25) per share for 2018
Significant events, January – December
2018
- In January, Avarda launched a payment solution in Finland, together with several major
partners
- In April, the Board appointed Mattias
Carlsson as new CEO of TF Bank
- During the second quarter TF Bank issued a Tier 1 capital
instrument (AT1) of SEK 100
million
- In October, the Board of TF Bank has updated the bank's
financial targets and dividend policy. The new targets make it
clearer that future growth opportunities should be prioritised
TF Bank in brief
TF Bank 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. The platform is designed
for scalability and adaptability to different products, countries,
currencies and digital banking solutions. TF Bank carries out
deposit and lending activities for about 1 million consumers in
Sweden, Finland, Norway, Denmark, Poland, Germany, Estonia, Latvia and Lithuania through subsidiary, branch or
cross-border banking. In its Ecommerce Solutions segment, TF Bank
offer next-generation payment and checkout solutions for online
retailers in the Nordics, Estonia
and Poland. TF Bank is listed at
Nasdaq Stockholm.
This is information which TF Bank is required to disclose
under the EU Market Abuse Regulation and the Securities Market Act.
The information was provided for publication 7 February 2019 at 07:00
CET.
For further information, please contact:
Mikael
Meomuttel,
CFO and Head of Investor Relations
+46 (0)70 626 95 33
This information was brought to you by Cision
http://news.cision.com
http://news.cision.com/tf-bank-ab--publ-/r/year-end-report-january---december-2018,c2734108
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