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    BRA   NO0010167331

BRABANK ASA NEW

(BRA)
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Presentasjon Q3 2021

10/28/2021 | 01:51am EST

BRAbank ASA

3rd quarter 2021 results presentation

28th October 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 agreements for defaulted loans
  • 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

…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 24SevenOffice, Conta, Zirius, Husleie.no and Convene
  • 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

Product portfolio

Gross loans 5,400 MNOK - geographical mix Q3 2021

B2C

Consumer loans

Deposits

Euro funding

B2B

Invoice purchase

Factoring

SME credit

Norway

Finland

3,282 MNOK

1,954 MNOK

Sweden

164 MNOK

3

Table of contents

1 Highlights and development Q3

2 Financial results Q3

3 Outlook

4

Q3 2021 highlights

• Profit before tax 50.3 MNOK (profit after tax 37.9 MNOK)

Financials

• Successful issuance of Tier 1 & 2 capital below current yield

curve as well as achieving a more diversified call structure

• CET1 Capital ratio of 23.3% (25.4% incl. YTD profit)

• Forward flow agreement in place for Finland to mitigate

Credit quality

stage 3 risk

• Lower risk on new loans has reduced both margin and loss

• Reduced uncertainty around loss impact of Covid-19

Key financial figures, MNOK

Q3-21

2021- YTD

2020- adj.1

Interest

131.0

401.9

381.0

income

PBT

50.3

132.7

72.0

ROE,

12.1%

11.0%

7.8%

annualized

EPS,

1.60

1.41

0.71

annualized

EPS pre-

2.12

1.87

0.76

tax, annu.

C / I

31.8%

33.0%

29.6%

Gross

5,400

5,400

6,248

loans

Growth development

  • Increasing demand for consumer loans in Q3 on the back of fewer Covid restrictions
  • Growth in Finland offsets declining volumes in the Norwegian market
  • Relaunch of consumer loans in Sweden

Equity2

# of shares

BVPS

1,268

94,794,380

13.37 NOK

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

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 28 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2021 05:50:03 UTC.


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Financials
Sales 2021 488 M 55,8 M 55,8 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 972 M 111 M 111 M
Capi. / Sales 2021 1,99x
Capi. / Sales 2022 1,98x
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