TF Bank Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag

TF Bank (STO:TFBANK) Full Year 2024 Results

Key Financial Results

• Revenue: kr1.62b (up 21% from FY 2023).
• Net income: kr603.2m (up 60% from FY 2023).
• Profit margin: 37% (up from 28% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: kr28.06 (up from kr17.53 in FY 2023).

TFBANK Banking Performance Indicators

• Cost-to-income ratio: 38.3% (down from 41.6% in FY 2023).
• Non-performing loans: 1.34% (down from 8.48% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

TF Bank EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) exceeded analyst estimates by 8.5%.

The primary driver behind last 12 months revenue was the Credit Cards segment contributing a total revenue of kr616.3m (38% of total revenue). The largest operating expense was General & Administrative costs, amounting to kr889.8m (88% of total expenses). Explore how TFBANK's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 2.2% decline forecast for the Banks industry in Sweden.

Performance of the Swedish Banks industry.

The company's shares are down 3.5% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on TF Bank's balance sheet.

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