Northmill Q4 Year-end report 2019

January – December 2019 (Compared with January - December 2018)

• The loan portfolio increased by 36.6% to SEK 1 476 million (1 081)
• Net interest income increased by 6.8% to SEK 310.7 million (290.8)
• Operating income increased by 7.5% to SEK 356.8 million (331.9)
• Profit before tax (EBT) decreased by 13.7% to SEK 118.7 million (137.6)
• Cost/Income ratio increased to 0.32 (0.26)
• The return on equity amounted to 26.8%

Q4 2019 (Compared with Q4 2018)

• Net interest income increased by 18.5% to SEK 82.0 million (69.1)
• Operating income increased by 25.0% to SEK 95.6 million (76.4)
• Profit before tax (EBT) decreased by 3.8% to SEK 20.0 million (20.8)

Hikmet Ego, CEO at Northmill commented:

“The fourth quarter has been dedicated to secure all the necessary functions and competencies for the banking operations as well as setting out the risk management strategy to ensure compliance in all processes long term. The group has made several important investments in the organization with an emphasis on the areas of IT, analytics and product development. This has enabled us to remain focused and continue to deliver on our portfolio strategy. It has also laid the foundation for increased internal efficiency while growing the organization. The investments have provided a solid foundation for 2020 and fueled our quest to develop smart banking products centered around the customers’ needs.”

The year-end report 2019 can be downloaded here.