Interim Report January – September 2023

“During the third quarter, TF Bank's operating profit amounted to SEK 131 million, including a provision for restructuring costs of SEK 16 million. The underlying profitability improved during the quarter, partly due to implemented price increases and controlled lower lending growth. The loan portfolio increased by 4% in local currencies, particularly impacted by continued growth in the Credit Cards segment.”– Joakim Jansson, CEO

January – September 2023 compared to January – September 2022

• The loan portfolio amounted to SEK 17,404 million, compared to September 2022 the increase in local currencies was 24 %
• Operating profit increased by 16 % to SEK 371.7 million, including a provision for restructuring costs of SEK 15.9 million
• Earnings per share increased by 15 % to SEK 12.91
• Cost/income ratio decreased to 42.0 % (43.7)
• Return on equity amounted to 22.1 % (24.0)
• Total capital ratio has increased to 16.1 % (15.6) since year-end

July – September 2023 compared to July – September 2022

• The loan portfolio amounted to SEK 17,404 million, compared to June 2023 the increase in local currencies was 4 %
• Operating profit increased by 19 % to SEK 131.2 million, including a provision for restructuring costs of SEK 15.9 million
• Earnings per share increased by 19 % to SEK 4.58
• Cost/income ratio decreased to 42.6 % (43.5)
• Return on equity amounted to 22.4% (23.6)

Significant events, January – September 2023

• The credit card business had a loan book growth of 62 % during the first nine months of 2023 and economies of scale in the business model contributed to the operating profit increasing significantly.
• In order to take advantage of future opportunities for expansion and make necessary adjustments to the current organisation, the Bank made a provision of SEK 15.9 million for restructuring costs.
• TF Bank has issued Tier 2 bonds in the amount of SEK 150 million, Additional Tier 1 bonds in the amount of SEK 150 million and carried out an early redemption of Additional Tier 1 bonds of SEK 100 million.

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-q3-presentation-2023-2/

SE: +46 (0)8 5053 9728 end enter the meeting code 896 5737 6247.

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. The information was provided for publication, through the agency of the contact person set out above, on 18 October 2023 at 07:00 CET.