Brief: TF Bank announces ambitious new financial targets

Avarda Bank AB

24/10/2018 19:02

Oct 24 (Reuters) - TF Bank AB  TFBANK.ST :
    * SUPERVISORY BOARD OF TF BANK HAS ESTABLISHED NEW FINANCIAL
TARGETS AND DIVIDEND POLICY FOR THREE-YEAR PERIOD LEADING UP TO
2020
    * DEFINED AN EARNINGS PER SHARE TARGET OF SEK 14.50 OR
HIGHER BY
2020; A NEW TARGET FOR COST EFFICIENCY IMPLYING A C/I RATIO
BELOW 35 % BY 2020.
    * SAYS SUPERVISORY BOARD REMAINS FOCUSED ON BANKS CAPITAL
STRUCTURE AND ABILITY TO CONTINUE TO REALIZE STRONG GROWTH
    * TF BANK - TF BANK IS REVISING ITS DIVIDEND POLICY FROM
2018 AND
FORWARD, AND DIVIDEND WILL BE SET RELATIVE TO TARGETED GROWTH
AND CAPITAL REQUIREMENTS
    * SAYS NEW TARGET IMPLIES TO EXCEED LEGAL REQUIREMENT FOR
CAPITAL
RATIOS (INCLUDING PILLAR 2) BY AT LEAST 2.5 % POINTS.
    * NEW FINANCIAL TARGETS REPRESENTS A DOUBLING OF PROFITS
COMPARED
TO 2017 RESULTS

Source text for Eikon:  ID:nWkr6Shrd9 
Further company coverage:  TFBANK.ST 

 ((Reuters.Briefs@thomsonreuters.com;))