Resurs Holding today presents new financial targets. At the Capital Market Day tomorrow, some of the members of Resurs Holding’s management team will provide greater insight into the company’s operations, strategy and new financial targets.
After more than one and a half years as a listed company that has continuously met its goals, Resurs Holding has now decided to update its financial targets. Resurs Holding’s new mid-term financial targets are:
- Annual lending growth of more than 10%
- Risk-adjusted NBI margin in line with recent years, about 10-12%
- C/I before credit losses, excluding Insurance and adjusted for nonrecurring costs, of under 40%
- Return on tangible equity RoTE adjusted for nonrecurring costs, given a 12.5% Common Equity Tier 1 ratio, of about 30%.
- Common Equity Tier 1 ratio of more than 12.5% and a total capital ratio of more than 15%
- Payout ratio – a dividend of at least 50% of the Group’s net profit for the year
These targets do not include any effects of IFRS 9 since the implementation of the rules is as yet uncertain.
However, this will not result in any changes in the key ratios reported by the company, for example credit losses.
At the Capital Market Day tomorrow, Resurs Holding will explain more about how the company’s position will continue to drive growth and profitability forward. The company will also present its view of market conditions and trends.
Resurs Holding’s Capital Market Day will take place at the IVA Conference Centre, Grev Turegatan 16, in Stockholm and will begin with registration and coffee at 8:30 a.m. and end at 2:00 p.m. (including lunch). The presentations will be available on Resurs Holding’s website www.resursholding.com.
This information is such information that Resurs Holding AB is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication by Sofie Tarring on 26 November 2017 at 21:15 p.m. CET.
More information is available from:
Peter Rosén, CFO & Head of IR, peter.rosen@resurs.se +46 736 56 49 34
Sofie Tarring, IR Officer, sofie.tarring@resurs.se +46 736 44 33 95
About Resurs Holding:
Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.5 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the third quarter of 2017, the Group had 752 employees and a loan portfolio of SEK 23.2 billion. Resurs is listed on Nasdaq Stockholm, Large Cap.