Interim Report January – June 2024

“TF Bank's loan portfolio has increased by 18% in local currencies over the past year and amounted to SEK 19.4 billion at the end of the quarter. The credit card business in Germany continues to drive the organic growth. The Group's operating profit increased by 29 % compared to the corresponding quarter in 2023.”– Joakim Jansson, CEO

January – June 2024 compared to January – June 2023

• The loan portfolio amounted to SEK 19,423 million, compared to June 2023 the increase in local currencies was 18 % 
• Operating profit increased by 27 % to SEK 305.6 million 
• Earnings per share increased by 26 % to SEK 10.47 
• Cost/income ratio improved to 39.8 % (41.6) 
• Return on equity amounted to 22.3 % (22.0) 
• Total capital ratio has decreased to 15.6 % (15.9) since year-end 

April – June 2024 compared to April – June 2023

• The loan portfolio amounted to SEK 19,423 million, compared to June 2023 the increase in local currencies was 18 %
• Operating profit increased by 29 % to SEK 157.7 million
• Earnings per share increased by 29 % to SEK 5.43
• Cost/income ratio improved to 39.5 % (41.5)
• Return on equity amounted to 22.5 % (21.7)

Significant events, January – June 2024

• Lending operations in Spain have been established in the Credit Card segment with a similar offering as in other credit card markets. 
• The credit card business had an organic loan book growth of 63 % over the past year and economies of scale in the business model have contributed to a significantly improved operating profit of 96%. 
• Strong performance in the Ecommerce Solutions segment has resulted in an increase in operating profit of 64 %, mainly related to rising operating income in the Nordic region. 

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/q2-2024/

SE: +46 (0)85 053 97 28 end enter the meeting code 830 7190 7947

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, 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: Credit Cards, Ecommerce Solutions and Consumer Lending. 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 12 July 2024 at 07:00 CET.