for the full year
Stable growth for loans in Sweden and Finland and Point-of-sales finance
Loans Norway declined by NOK 127 million in the quarter, influenced by
seasonal effects, targeted credit measures and forward flow NPL sales
Losses on loans decreased to NOK 73.0 million in Q4 2018, compared to NOK 83.0
million in Q3 2018
Profit after tax of NOK 96 million, resulting in a ROE of 24.5% for Q4 2018,
up from 20.3% in Q3 2018
EUR denominated deposits were launched in Germany during the quarter
Preparations for credit card launches in Sweden and Finland concluded in Q4
2018. Launch in Sweden completed in early Q1 2019 and launch in Finland is
expected by end-Q1 2019
Commenting on the results, CEO Jan Haglund, said:
Although net loan growth was somewhat lower than expected, we are very pleased
with the overall operational performance in the fourth quarter. Targeted credit
measures implemented after Q3 2018 had a significant positive impact on losses
on loans, and continued operational efficiency kept expenses at a stable, low
level. This contributed to a quarterly profit after tax of NOK 96 million and
solid return on equity of 24.5%.
For the full year 2018, we experienced strong growth in net loans of 44%, driven
to an increasing degree by new products and markets. By the end of 2018, as much
as 32% of our loan portfolio was comprised of loans in Sweden and Finland and
Point-of-sales finance, a ratio we expect to expand as we continue to execute on
our strategic roadmap for product-wise and geographical expansion, starting with
credit cards in Sweden and Finland from Q1 2019.
Komplett Bank CEO Jan Haglund will present the companys results at 10:00 CET
today, February 13, 2019 at Felix Konferansesenter, Bryggetorget 3, Oslo.
The Q4 2018 report and presentation materials are attached to this notice and
can be found at:
A live webcast of the presentation and the following Q&A session can be followed
It will be possible to ask questions online.
For further information, please contact:
Jan Haglund, CEO
tel: +46 70 600 2061
email: [email protected]
About Komplett Bank ASA
Komplett Bank is a focused Nordic digital niche bank offering personal loans,
credit cards, deposit accounts and online point-of-sales finance products to
consumers. The target group is creditworthy customers with stable personal
finances and no payment remarks. Credit risk is managed largely by automated
processes for credit assessment and underwriting. The bank has a diversified and
balanced distribution model utilizing both public and proprietary channels.
Operational efficiency and low cost are a foundation for Komplett Bank and is
enabled by centralized operations, modern systems and digital set-up.
To learn more, visit www.komplettbank.no
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Tr