Lea bank ASA reports Q3 and update on the redomiciliation project

24 Oct 2024 07:29 CEST

Lea bank ASA reported a profit before tax of NOK 35 million for Q3 2024. Gross
loans amounted to 7,353 MNOK. Equity at the end of the quarter was NOK 1,468
million.

Highlights of Q3 2024:

- Profit before tax NOK 35 million (after tax NOK 26.4 million)

- Net interest income of NOK 135.5 million

- Gross loan portfolio of NOK 7.4 billion

- Cost-income ratio (C/I) of 30.7%

- Book value per share of NOK 14.79

Group consolidated accounts including Swedish subsidiaries:

Profit before tax for Q3 2024 of NOK 29.8 million, and Profit after tax of NOK
21.2 million. Group financial profits were affected by scaling up the Swedish
presence through the setup of Lea Bank AB and integration of Captum Group AB.
Total assets amounted to NOK 8,678 million.

Update on the redomiciliation project:

Lea bank ASA will complete the redomiciliation to Sweden through a merger
between Lea bank ASA and Lea Bank AB, with Lea Bank AB as the surviving entity.

Update on the merger and listing process:

· End of August the bank submitted application to the Norwegian Financial
Supervisory Authority for approval of the merger plan - approval received 22
October 2024

· End of September the bank got approval of the merger plan from the General
meeting

· End of September the bank submitted application to the Swedish Financial
Supervisory Authority for approval of the merger plan

· Pending approval from the Swedish Financial Supervisory Authority, Lea Bank AB
is set to operate under a Swedish banking license starting 2 January 2025.

The bank has started the process to change listing from Euronext Growth Oslo to
Nasdaq First North Premier Growth Stockholm. Additionally, the bank has started
a gradual build-up of a new headquarter in Gothenburg and establishment of a
Norwegian branch.

Lea bank will present the results for the 3rd quarter of 2024 on Thursday, 24
October at 10:00 AM. There will also be an update of the ongoing redomiciliation
project. The presentation will be broadcasted via Microsoft Teams. It is also
possible to attend the presentation at the bank's premises at Holbergs gate 21,
Oslo. Please RSVP indicating whether you will attend digitally or physically to
ir@leabank.no.

The Teams link will be sent prior to the presentation.

Contact information:

Oddbjørn Berentsen, CEO

Tel: +47 22 99 14 00

Email: ir@leabank.no

More information:
Access the news on Oslo Bors NewsWeb site

630262_Presentasjon_Q3_2024.pdf
630262_Report_Q3_2024.pdf