Resurs Bank Interim Report January-June 2024

18 Jul 2024 07:30 CEST

-- Our intensified focus on Payment Solution continued during the quarter and
the collaboration with Jula was successfully launched. At the same time the
credit losses remain at a higher level.

-- Reported net profit for the first half of 2024 amounted to SEK 62 million.

-- Resurs is continuing to focus on its core business and is working
intensively to update its long-term strategic plan in line with the strategic
direction presented in the first quarter. It is clear to me that Resurs is
about to embark on a journey of change that will require investment to upgrade
IT systems and develop new products. Together with Resurs's Group Management
and employees, I am convinced that this direction is the best for Resurs's
long-term development.

Magnus Fredin, CEO Resurs Bank and Resurs Holding

1 January -- 30 June 2024*

* Lending to the public was stable and amounted to SEK 39,733 million (39,604)
* Operating income increased 4% to SEK 1,780 million (1,720).
* General administrative expenses were impacted by an item affecting
comparability of SEK -23 million, which derived from the efficiency
enhancement process initiated in the first quarter and of SEK -50 million as
a result of the Administrative Court of Appeal upholding the Swedish
Financial Supervisory Authority's (Finansinspektionen) appeal of the
Administrative Court's judgment
* C/I before credit losses was 47.2% (40.6%), and excluding items affecting
comparability was 43.2%
* Profit before credit losses amounted to SEK 939 million (1,022), and
excluding items affecting comparability to SEK 1,012 million
* The credit loss ratio increased to 4.3% (2.9%), Levels of provisions
improved at the end of the first half of the year
* Operating profit declined due to higher credit losses and amounted to SEK 86
million (473), and excluding items affecting comparability to SEK 159
million

* 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."

FOR MEDIA CONTACTS
Måns Renntun, Chief Communication & Marketing Officer, +46-709-849620,
mans.renntun@resurs.se

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 approximately 6 million customers and 663 employees in the Nordic
region.

This information is information that Resurs Bank AB is obliged to make public
pursuant to the Securities Markets Act and the Norwegian Securities Trading
Act Section 5-12. The information was submitted for publication, at 2024-07-18
07:30 CEST.

More information:
Access the news on Oslo Bors NewsWeb site

623802_Resurs Bank AB Interim Report January June 2024.pdf