Resurs Bank Year-end report January-December 2022

07 Feb 2023 16:45 CET

For the second half of the year, we can summarise a strong end to the year,
featuring healthy growth. The development of the cloud-based core banking
system is proceeding according to plan. In other words, we continued on our
transformation journey at high intensity, just as we did earlier in 2022. Nils
Carlsson, CEO Resurs Bank AB

1 July -- 31 December 2022*
· Lending to the public rose 12% to SEK 37,187 million, up 8% in constant
currencies.
· Operating income increased 9% till SEK 1,662 million.
· C/I before credit losses was 40.6% (41.4%).
· Earnings before credit losses increased 10% to SEK 987 million.
· Last year's figure was positively impacted by a nonrecurring item of SEK
73 million due to the dissolution of the extra credit provision that was made
at the start of the pandemic
· The credit loss ratio exclusive the nonrecurring items amounted to 2.4%
(2.1%), inclusive the dissolution of the pandemic provision last year amounted
to 1.7%.
· Operating profit was stable and amounted to SEK 554 million, inclusive
the dissolution of the pandemic provision last year result decreased with 11%.

1 January -- 31 December 2022*
· Lending to the public rose 12% to SEK 37,187 million, up 8% in constant
currencies.
· Operating income increased 4% to SEK 3,204 million.
· 2022 included a nonrecurring cost of SEK 50 million as a result of the
Swedish Financial Supervisory Authority's (Finansinspektionen) decision to
issue an administrative fine. Last year's figure was also impacted by a
nonrecurring item of SEK 73 million due to the dissolution of the extra credit
provision that was made at the start of the pandemic, and an adjustment to the
tax calculation, which resulted in SEK 49 million in lower tax expense.
· C/I before credit losses was 41.0% (41.3%), including nonrecurring items
42.6%.
· Earnings before credit losses increased 4% to SEK 1,889 million,
inclusive nonrecurring cost of SEK 50 million the increase was 1%.
· The credit loss ratio amounted to 2.2% (2.2%), including the
nonrecurring items last year 2.0%.
· Operating profit rose 1% to SEK 1,100 million, declined 10% including
the nonrecurring items.

*Certain performance measures provided in this section have not been prepared
in accordance with IFRS or the capital adequacy rules, meaning that they are
alternative performance measures. Calculations and reconciliation against
information in the financial statements of these performance measures are
provided on the website under "Financial reports." Definitions of performance
measures are provided in the report on page 32.

MORE INFORMATION
Nils Carlsson, CEO, nils.carlsson@resurs.se, +46 766 44 77 00
Stefan Noderén, Interim CFO & Head of IR, stefan.noderen@resurs.se, +46 70 816
02 24

ABOUT RESURS
Resurs is a leading bank in the Nordics with a simple philosophy: we want to
create balance in people's personal finances. On that foundation, we develop
offers and services within loans, savings and payments for retail and
e-commerce that are based on people's everyday lives, and that will create
long-term value for our customers. And for society. Today, we have a customer
base of slightly more than 6 million customers and 645 employees in the Nordic
region.

This information is information that Resurs Bank AB is obliged to make public
pursuant to the Norwegian Securities Trading Act Sections 5-12. The
information was submitted for publication, at 2023-02-07 16:45 CET.

More information:
Access the news on Oslo Bors NewsWeb site

581564_RESURS BANK YEAR END REPORT 2022.pdf