Norion Bank AB: Year-end report January-December 2024

Norion Bank AB publishes the year-end report for the period January-December 2024 and announces its intention to initiate a share buyback program of up to approximately SEK 500 million during the second quarter of 2025.

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

• The loan portfolio amounted to SEK 50,286 million (45,470)
• Total income amounted to SEK 922 million (934)
• The C/I ratio amounted to 32.8% (27.1)
• The credit loss level amounted to 1.9% (2.4)
• Operating profit amounted to SEK 383 million (414)
• Net profit amounted to SEK 301 million (326) and earnings per share amounted to SEK 1.46 (1.51)
• Return on equity amounted to 13.5% (16.3)
• The CET1 ratio amounted to 15.8% (15.9) and the total capital ratio amounted to 16.9% (17.0)

JANUARY-DECEMBER 2024 (COMPARED TO JANUARY-DECEMBER 2023)

• The loan portfolio amounted to SEK 50,286 million (45,470)
• Total income amounted to SEK 3,697 million (3,648)
• The C/I ratio amounted to 29.1% (25.6)
• The credit loss level amounted to 2.1% (2.5)
• Operating profit amounted to SEK 1,609 million (1,636)
• Net profit amounted to SEK 1,265 million (1,294) and earnings per share amounted to SEK 6.09 (6.02)
• Return on equity amounted to 14.8% (17.2)
• The CET1 ratio amounted to 15.8% (15.9) and the total capital ratio amounted to 16.9 % (17.0)
• The Board of Directors proposes that no dividend will be paid for the financial year 2024. However, in line with the Bank's dividend policy - to distribute potential surplus capital in relation to the capital adequacy target to shareholders - the Board intends to initiate a share buyback program of up to approximately SEK 500 million. The buyback program is expected to commence during the second quarter of 2025, given that the Annual General Meeting on May 6, 2025, authorizes the Board to repurchase its own shares, and that the Swedish Financial Supervisory Authority grants permission to repurchase own shares.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
After the end of the fourth quarter, The Swedish Financial Supervisory Authority requested a statement from Norion Bank as a continuation of the previously initiated investigation regarding compliance with anti-money laundering regulations, which was initiated in May 2023 towards Norion Bank and a couple of other market participants. Norion Bank will comment on the matter no later than 21 February 2025.

CONFERENCE CALL
A conference call will be held in Swedish on 5 February 2025 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 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 Norion Bank's website, 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]

Jessica Almgren, Investor Relations Manager
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 2025-02-05 07:30 CET.