Interim Report January – June 2023

“Record volumes for the German credit card contributed to an increase in the Bank’s loan portfolio by 7 % in local currencies during the second quarter. Return on equity amounted to 22 % during the quarter and the income grew at a higher pace than the expenses. Implemented price increases and a slightly lower growth rate are expected to affect profitability and capital ratios positively during the second half of the year.”– Joakim Jansson, CEO

January – June 2023 compared to January – June 2022

• The loan portfolio amounted to SEK 17,012 million, compared to June 2022 the increase in local currencies was 27 %
• Operating profit increased by 15 % to SEK 240.6 million
• Earnings per share increased by 13 % to SEK 8.32
• Cost/income ratio decreased to 41.7 % (43.8)
• Return on equity amounted to 22.0 % (24.4)
• Total capital ratio has increased to 15.0 % (15.6) since year-end

April – June 2023 compared to April – June 2022

• The loan portfolio amounted to SEK 17,012 million, compared to March 2023 the increase in local currencies was 7 %
• Operating profit increased by 15 % to SEK 123.0 million
• Earnings per share increased by 14 % to SEK 4.26
• Cost/income ratio decreased to 41.4 % (44.3)
• Return on equity amounted to 21.9 % (24.1)

Significant events, January – June 2023

• The credit card business had a strong loan book growth of 43 % during the first half of the year and economies of scale in the business model contributed to the operating profit increasing significantly.
• TF Bank has issued Tier 2 bonds in the amount of SEK 150 million and carried out an early redemption of additional Tier 1 bonds of SEK 100 million.
• Joakim Jansson took seat as CEO May 15, 2023. The prior CEO Mattias Carlsson remains with the company as a Senior Business Advisor.

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:

Link: https://www.finwire.tv/webcast/tf-bank/tf-bank-q2-presentation-2023/

SE: +46 (0)8 5052 0017 and enter the meeting code 896 3859 3956.

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 lending activities are conducted in Sweden, Finland, Norway, Denmark, Estonia, Latvia, Lithuania, Poland, Germany, Austria and Spain through 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 and the Securities Market Act. The information was provided for publication, through the agency of the contact person set out above, on 13 July 2023 at 07:00 CET.