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Regulatory press release

Interim report January-March 2024

Norion Bank
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Norion Bank AB publishes the interim report for the period January-March 2024.

FIRST QUARTER OF 2024 (COMPARED TO THE FIRST QUARTER OF 2023)

  • The loan portfolio amounted to SEK 45,199 million (41,699)
  • Total income amounted to SEK 933 million (882)
  • The C/I ratio amounted to 27.7% (26.0)
  • The credit loss level amounted to 2.3% (2.6)
  • Operating profit amounted to SEK 417 million (385)
  • Net profit amounted to SEK 329 million (305) and earnings per share amounted to SEK 1.53 (1.42)
  • Return on equity amounted to 15.8% (17.4)
  • The CET1 ratio amounted to 16.1% (14.6) and the total capital ratio amounted to 16.1% (15.7)

SIGNIFICANT EVENTS DURING THE PERIOD
On 28 March 2024, Norion Bank AB redeemed the AT1 bond of SEK 500 million that was issued in the first quarter of 2019. The Tier 1 ratio and total capital ratio have consequently decreased. The bank maintains good buffers in relation to the regulatory requirements after the redemption.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
No significant events have occured after the end of the period.

CONFERENCE CALL
A conference call will be held in Swedish on 23 April 2024 at 09:00 CET, during which CEO Martin Nossman and CFO Peter Olsson will present the report. The presentation will be followed by a Q&A session. The webcast is available on this link. For those who wish to participate in the conference call, please register on this link. After registration, you will be provided a phone number and a conference ID to access the conference call.

The presentation material will be available in English and published in connection with the conference call on www.norionbank.se/en-se/investor-relations-en/financial-information/reports-and-presentations, where the recorded version of the webcast will be available afterwards.

For more information, please contact:
Peter Olsson, CFO
Phone: +46 73 712 04 46
E-mail: peter.olsson@norionbank.se

About Norion Bank
Norion Bank Group is a business-oriented Nordic financing bank. The Group’s brands – Norion Bank, Walley and Collector – offer customized financing solutions that meet distinct needs in three customer segments: medium-sized corporates and real estate companies, merchants, and private individuals. As a specialist in financing solutions, Norion Bank Group is a leading complement to traditional large banks, with a vision of being the leading Nordic financing bank in its chosen segments. 
  
Norion Bank offers corporate and real estate loans, as well as factoring for medium-sized corporates and real estate companies. The Walley brand offers flexible payment and checkout solutions to merchants and private individuals. The Collector brand offers personal loans and credit cards to private customers, as well as savings accounts to private individuals and companies. Norion Bank Group (formerly Collector Bank) was founded in 1999 and has offices in Gothenburg, Stockholm, Helsingborg, Oslo and Helsinki. Business is conducted through Norion Bank AB (public), which is listed on Nasdaq Stockholm.

This information is information that Norion Bank is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-23 07:30 CEST.

Attachments
Norion Bank AB Interim Report January March 2024

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