Norion Bank AB: Year-end report January-December 2023

Norion Bank AB publishes the year-end report for the period January-December 2023.

FOURTH QUARTER OF 2023 (COMPARED TO THE FOURTH QUARTER OF 2022)

• The loan portfolio amounted to SEK 45,470 million (41,490)
• Total income amounted to SEK 934 million (928)
• The C/I ratio amounted to 27.1% (24.9)
• The credit loss level amounted to 2.4% (2.5)
• Operating profit amounted to SEK 414 million (437)
• Net profit amounted to SEK 326 million (346) and earnings per share amounted to SEK 1.51 (1.62)
• Return on equity amounted to 16.3% (20.8)
• The CET1 ratio amounted to 15.9% (14.3) and the total capital ratio amounted to 17.0% (15.4)

JANUARY-DECEMBER 2023 (COMPARED TO JANUARY-DECEMBER 2022)

• The loan portfolio amounted to SEK 45,470 million (41,490)
• Total income amounted to SEK 3,648 million (3,212)
• The C/I ratio amounted to 25.6% (25.9)
• The credit loss level amounted to 2.5% (2.4)
• Operating profit amounted to SEK 1,636 million (1,442)
• Net profit amounted to SEK 1,294 million (1,141) and earnings per share amounted to SEK 6.02 (5.34)
• Return on equity amounted to 17.2% (18.3)
• The CET1 ratio amounted to 15.9% (14.3) and the total capital ratio amounted to 17.0% (15.4)
• The Board of Directors proposes that no dividend will be paid for the financial year 2023

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
On 6 February 2024, a press release regarding Norion Bank's new financial targets was published. Norion Bank's strategy is to maintain good risk adjusted profitability and the company's new financial targets relate to profitability, capital adequacy and dividend policy. For more information, see the press release and page 10 in this year-end report.

CONFERENCE CALL
A conference call will be held in Swedish on 7 February 2024 at 10:30 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 the following link: https://ir.financialhearings.com/norion-bank-q4-2023. For those who wish to participate in the conference call, please register on the following link: https://conference.financialhearings.com/teleconference/?id=5006218. 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: [phone]
E-mail: [e-mail]

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.
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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 2024-02-07 07:30 CET.