"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."-
January -
- The loan portfolio amounted to
SEK 17,012 million , compared toJune 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 -
- The loan portfolio amounted to
SEK 17,012 million , compared toMarch 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 -
- 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 ofSEK 150 million and carried out an early redemption of additional Tier 1 bonds ofSEK 100 million .Joakim Jansson took seat as CEOMay 15, 2023 . The prior CEOMattias 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
This is information which
https://news.cision.com/tf-bank-ab--publ-/r/interim-report-january---june-2023,c3804219
https://mb.cision.com/Main/13973/3804219/2185903.pdf
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