Resurs Holding Interim Report January – March 2024


– Our new strategic direction, the cornerstone of which is an increased focus in Payment Solutions, has led to several new partnerships with leading chains. The most recent example is Jula, one of the leading Nordic retailers.

– At the same time, credit loss provisions remained at a high level. In the first quarter of 2024, we could see a continued increase in the level of credit loss provisions, which was also amplified by the seasonal variation we normally experience, with Q1 and Q4 being higher than Q2 and Q3. At the same time, we could see that provision levels clearly improved during the quarter.

– Focus on core business and strengthened Group Management. The first quarter of 2024 involved high intensity and a deliberate focus on activities that strengthen Resurs’s core business and reduce credit losses over time. This remains the company’s top priority and is a task I am leading together with my newly appointed Group Management.

Magnus Fredin, CEO Resurs Bank and Resurs Holding

1 JANUARY–31 MARCH 2024*

  • Lending to the public rose 6% to SEK 39,682 million
  • Operating income increased 3% to SEK 881 million
  • As previously communicated, the quarter was affected by items affecting comparability of SEK -23 million due to costs associated with efficiency programmes
  • C/I before credit losses was 46.1% (41.1%), and excluding items affecting comparability 43.6%
  • Profit before credit losses amounted to SEK 474 million (502), and excluding items affecting comparability SEK 497 million
  • The credit loss ratio increased to 4.7% (3.0%), the level of provisions improved during the quarter
  • Operating profit declined due to higher credit losses and amounted to SEK 18 million (217), and excluding items affecting comparability SEK 40 million
  • Earnings per share declined to SEK 0.05 (0.83), and excluding items affecting comparability were SEK 0.16

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

Resurs’s report for the first quarter 2024 will be published at 07:30 CEST on April 25th. A web-cast telephone conference will be held at 09:00 CET the same day, where Resurs’ CEO Magnus Fredin and CFO & Head of IR Sofie Tarring Lindell will present the report. The presentation will be followed by a Q&A-session.

If you wish to participate via webcast please use the link below. Via the webcast you are able to ask written questions.

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

The presentation will be held in English.

The presentation material will be available before the telephone conference begins on Resurs’s website It will also be possible to access the recorded version of the webcast after it is finished on this page.

Måns Renntun, Chief Communication & Marketing Officer, +46-709-849620,