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    BRA   NO0010167331

BRABANK ASA NEW

(BRA)
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BRAbank New : Q1 2021 Presentation BRABANK

04/29/2021 | 01:43am EST

BRAbank ASA

1st quarter 2021 results presentation

29th April 2021

Disclaimer

This Presentation from BRAbank ASA ("BRAbank" or the "Company") includes among other things forward-looking statements. Certain such forward-looking statements can be identified by the use of forward-looking terminology such as "believe", "may", "will", "should", "would be", "expect" or "anticipate" or similar expressions, or the negative thereof, or other variations thereof, or comparable terminology, or by discussions of strategy, plans or intentions. The forward-looking statements contained in this Presentation, including assumptions, opinions and views of the Company or cited from third party sources, reflect the current views with respect to future events and are subject to material risks, uncertainties and other factors that may cause actual events to differ materially from any anticipated development. Neither BRAbank nor any of its officers or employees provides any assurance as to the correctness of such forward-looking information and statements. The Company does not intend, and assumes no obligation, except as required by law, to update any forward- looking statements or to conform these forward-looking statements to its actual results.

By attending or receiving this Presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of BRAbank and that you will conduct your own analysis and be solely responsible for

forming your own view of the potential future performance of BRAbank's business and the securities issued by BRAbank.

This Presentation speaks as of the date of the presentation. Neither the delivery of this Presentation nor any further discussions of BRAbank with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of BRAbank since such date.

BRAbank ASA at a glance

Digital niche bank with a Nordic footprint

Consumer finance with a strong presence in the Nordic market…

  • Fully digital bank offering consumer loans, savings accounts, automated invoice purchase and SME financing
  • Proven value chain with inhouse credit analysis and operations, broad distribution network and forward flow agreement with Kredinor
  • Roots back to 2003. Rebranded to Easybank and strategically turned around in 2016, resulting in one of the most profitable start-up niche banks
  • HQ in Oslo and regional office in Bergen

Product portfolio

B2C

Consumer

Savings

(Credit

Automated

Rental

Euro

invoice

deposit

accounts

Cards)

loans

purchase

accounts

funding

B2B

Savings

Automated

invoice

accounts

Factoring

purchase

…leveraged by a digital platform and strategic partnerships

  • Easybank and BRAbank joined forces in October 2020 with Easybank as surviving entity - enabling a more competitive bank with substantial synergy upside, scaling opportunities and increased self-funding capabilities
  • Strategic partnerships with Convene, Conta, Horde, husleie.no, debet.no and more
  • Listed on Euronext Growth at Oslo Børs, ~1 600 shareholders. Braganza AB largest shareholder. Other large shareholders include Hjellegjerde Invest, 4finance Group, Skagerrak Sparebank, Alfred Berg Norge/Aktiv, Fondsavanse

Gross loans 5 699 MNOK - geographical mix Q1 2021

Norway

Finland

3 618 MNOK

1 904 MNOK

Sweden

177 MNOK

3

Table of contents

1 Highlights and development Q1

2 Financial results Q1

3

Merger update and outlook

4

Q1 2021 highlights

Profit before tax 36.8 MNOK (profit after tax 27.9 MNOK)

Financials

Total income 124.8 MNOK

CET1 Capital ratio of 21.9%

Sale of non-performing loans in Norway reduces downside risk

Credit quality

Improvement in credit quality

Still uncertain long-term impact of Covid-19

Lower demand for consumer financing

Covid-19 impact

Covid-related regulations in Finland continues

The consumer finance market is expected to normalize in parallel

with lifting lockdown restrictions

No significant merger related one-off costs

Merger

Scalable business model starting to materialize

Streamlining of value chain and cost synergies on track

Note on key figures: PBT: Profit before tax, ROE: Annualized Return On Equity (excluding tier-1 capital), EPS: Annualized Earnings per share, C/I: Cost to income Figures prior to merger October 1st 2020 are Easybank ASA

  1. Adjusted: Badwill, write-down intangible assets, restructuring costs and other one-off costs and additional Covid-19 loan loss provision
  2. Book value (excl. tier 1 capital) of equity per share

Key financial figures, MNOK

Q1-21

Q4-20-

2020-

adjusted1

adjusted1

Interest

139.8

158.6

381.0

income

PBT

36.8

23.5

72.0

ROE

9.4%

6.1%

7.8%

EPS

0.29

0.76

0.71

C / I

34.0%

32.0%

29.6%

Gross

5 699

6 248

6 248

loans

Equity2

# of shares

BVPS

1 197

94 794 380

12.62 NOK

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Brabank ASA published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 05:42:02 UTC.


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Financials
Sales 2021 488 M 55,5 M 55,5 M
Net income 2021 122 M 13,9 M 13,9 M
Net Debt 2021 - - -
P/E ratio 2021 7,77x
Yield 2021 2,50%
Capitalization 948 M 108 M 108 M
Capi. / Sales 2021 1,94x
Capi. / Sales 2022 1,93x
Nbr of Employees 58
Free-Float -
Chart BRABANK ASA NEW
Duration : Period :
BRAbank ASA New Technical Analysis Chart | BRA | NO0010167331 | MarketScreener
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 10,00 NOK
Average target price 12,00 NOK
Spread / Average Target 20,0%
EPS Revisions
Managers and Directors
Oddbj°rn Berentsen Chief Executive Officer
Rune Fjeldstad Chairman
Rolf Viggo Leisner Vice Chairman
Kristin Margrethe Devold Director
Jan Kleppe Director