17.10.2021 21:16

TF Bank announces new financial targets

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STOCKHOLM, Oct. 17, 2021 /PRNewswire/ -- The Board of TF Bank has today resolved on new financial targets. The superior financial target is to double the loan portfolio to SEK 20 billion by the first half of 2025, which means that organic growth in existing and new markets continues to be highly prioritised. The new financial targets will be presented more in detail by CEO and CFO at a telephone conference in connection with the presentation of the interim report for the period January - September 2021, Monday 18 October at 08.15 CET.

The targets means that TF Bank shall double the loan portfolio to SEK 20 billion by the first half of 2025 and at the same time achieve a return on equity well above 20 %. The Board of Directors retains its focus on the Bank's capital structure and both the capital target and dividend policy are left unchanged.

– Organic growth in existing and new markets continues to be highly prioritised, which is reflected in the financial target that the loan portfolio shall double to SEK 20 billion by the first half of 2025. The target should be seen in relation to the fact that the size of TF Bank is of importance and that the expansion of the bank's operations should lead to significantly improved conditions to manage the increasing regulatory complexity, says John Brehmer, Chairman of TF Bank.

– Continued high profitability is a prerequisite to reach the growth target, and the financial target that enables this is that return on equity shall be well above 20 %. However, I would like to emphasise that this level should be seen as a floor and also takes into account somewhat higher expected capital requirements, says Mattias Carlsson, CEO of TF Bank.

For further information, please contact:
Mattias Carlsson, CEO +46 (0)70 374 33 80
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 an internet-based niche 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 and Austria through branch or cross-border banking. The operations are divided into three segments: Consumer Lending, Ecommerce Solutions and Credit Cards. 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 17 October 2021 at 19:30 CET.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/tf-bank-ab--publ-/r/tf-bank-announces-new-financial-targets,c3434337

The following files are available for download:

https://mb.cision.com/Main/13973/3434337/1481911.pdf

Press release PDF

 

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