New financial capital targets for Resurs Holding following completed merger

Resurs Holding AB (publ) has today resolved to update certain of its financial targets in light of that the merger between Resurs Holding’s wholly-owned subsidiary Resurs Bank AB (publ) and Resurs Bank’s wholly-owned Norwegian subsidiary yA Bank AS has now been registered.

As previously notified, on 3 April 2018, the Boards of Directors of Resurs Bank and yA Bank resolved to adopt a joint merger plan and merger report for a cross-border merger between the two companies, by way of Resurs Bank absorbing yA Bank. The Swedish Companies Registration Office has today, 30 November 2018, registered the merger. Accordingly, the merger is completed and has become legally effective.

Completion of the merger entails that Resurs Bank’s regulatory capital requirement is reduced by approximately 1 percentage point due to reduced buffer requirements and pillar II requirements. Against this background, Resurs Holding’s Board of Directors have today resolved to adjust certain of Resurs Holding’s financial targets in accordance with the below:

  • Total capital ratio is lowered from more than 15% to more than 14%, and
  • Common Equity Tier 1 ratio is lowered from more than 12.5% to more than 11.5%.

As a consequence, the given Common Equity Tier 1 ratio in the definition of return on tangible equity, RoTE, adjusted for nonrecurring costs, is adjusted from given 12.5% to given 11.5% Common Equity Tier 1 ratio.  

Resurs Holding’s other mid-term financial targets remain unchanged. The financial targets in their entirety can be found on Resurs Holding’s webpage, www.resursholding.se.

It can be noted that as a result of the merger, yA Bank has been dissolved and all yA Bank’s rights and obligations have been transferred to Resurs Bank in accordance with applicable Swedish and Norwegian legislation. The merger will also be registered with the Norwegian Register of Business Enterprises. For further information regarding the merger, see Resurs Holding’s press release dated 3 April 2018.

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:
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 has thus built a customer base of approximately 5.8 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 2018, the Group had 783 employees and a loan portfolio of SEK 27.5 billion. Resurs is listed on Nasdaq Stockholm. 

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 the abovementioned contact person on
30 November
2018 at 09.00 CET.