TF Bank is expected to have increased its revenue by 18% in the third quarter of 2024, and household loans are expected to have increased to 20.3 billion Swedish crowns. The quarterly report will be presented on Tuesday October 15 at 7:00 a.m.
Loans are expected to reach 20.3 billion Swedish crowns at the end of the third quarter, representing growth of 17% compared to the same period last year. The basis of the bank’s loan portfolio is consumer loans with relatively small credit amounts and short repayment periods, as well as the credit card market for the bank in Germany.
In the third quarter, the bank is expected to report credit losses of SEK 211 million (-172), an increase of 23% compared to the previous year.
Norwegian bank ABG Sundal Collier forecasts attractive annual operating profit growth of 23 percent between 2023 and 2026, citing stable loan losses and good cost control as reasons.
DNB, which has the highest price target currently at SEK 330, believes that the market is not fully assessing the long-term growth potential and profitability.
All three analysts covering TF Bank currently have a Buy recommendation on the stock and the average target price increased to SEK 316 ahead of the report. The stock has seen a positive development since the start of the year and is trading at SEK 271 as markets open on Monday.
The forecasted operating profit for TF Bank is 167 million Swedish crowns, an increase of 27% compared to the same period last year, when the profit was 131 million Swedish crowns.
Operating income is expected to have increased 18% to SEK 624 million for the quarter, operating expenses are expected to have increased 9% to -SEK 246 million and earnings per share are expected to be 5 .75 Swedish crowns, an increase of 25% compared to the same period last year.
The bank’s management will present the interim report during a webcast at 8:15 a.m. on October 15 —>https://www.finwire.tv/webcast/tf-bank/q3-2024/
| Banque TF | |||
| Report date | 2024-10-15 | ||
| (million SEK) | Q3-24, forecast | Number of estimates | Published last year |
| Turnover | 624 | 3 | 529 |
| Operating expenses | -246 | 3 | -226 |
| Credit losses | -211 | 3 | -172 |
| Operating profit | 167 | 3 | 131 |
| Net profit/net loss | 123 | 3 | 99 |
| Earnings per share | 5,75 | 3 | 4,58 |
| Retail loans (SEK billion) | 20,3 | 3 | 17,4 |
| Source : Finwire |
| Analysis house | ABG | CAR | DNB |
| Recommendation | Acheter | Acheter | Purchase |
| Target price | 310 SEK | 310 SEK | 330 SEK |
| Date: September 23 | 23/9/2024 | 9/10/2024 | 27/9/2024 |
| Reference period | Report date | Change in share price on the report date, in % |
| Q2-24 | 2024-07-12 | 1,6 |
| Q1-24 | 2024-04-16 | 6,9 |
| Q4-23 | 2024-01-19 | 7,8 |
| Q3-23 | 2023-10-18 | -0,7 |
| Q2-23 | 2023-07-13 | -1,4 |
| Q1-23 | 2023-04-17 | 5,6 |
| Q4-22 | 2023-01-20 | -5,7 |
| Q3-22 | 2022-10-17 | 0,9 |
