Interim Report January - March 2020



Total credit portfolio* increased by 47 % to SEK 1 598 million (1 083)
Net interest income increased by 29 % to SEK 87.5 million (67.9
Operating income increased by 27 % to SEK 99.7 million (78.3)
Profit before tax (EBT) decreased by 76 % to SEK 5.7 million (23.9) and Adjusted EBT** decreased by 12 % to SEK 21.0 million
Cost/income ratio totaled 0.34 (0.30)
Return on equity was 22.2 % (31.8 %)
Total capital ratio was 22.0 % in Northmill Bank AB and 19.8 % in the Group
Common Equity Tier 1 ratio was 22.0 % in Northmill Bank AB and 19.8 % in the Group

Hikmet Ego, CEO at Northmill commented:
“Despite these uncertain circumstances in the wake of Covid-19, we have seen a solid overall performance with a growth of 27%, improved financing costs and maintained operational efficiency (C/I) of 0.34. The quarter was impacted by an additional provision of SEK 15.4 million for expected future credit losses linked to the uncertain macroeconomic situation. Adjusted for the additional provisioning, profit before tax amounted to SEK 21.0 million which is in line with the previous quarter.”

The interim report Q1 2020 can be downloaded here.

For more information, please contact:

Tobias Ritzén, CFO
+46 72-534 97 61‬

* Total credit portfolio consists of lending to the public and portfolio of intermediated credits.
** Adjusted for the extra credit loss provisioning of SEK 15.4 million

This information is information that Northmill Group AB (publ) is obliged to make public pursuant to the Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on May 29, 2020.