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TF Bank AB (publ): Antilla files for bankruptcy - a very limited exposure for TF Bank through Joint Venture Company Avarda

Finnish department store chain Anttila filed late yesterday for
bankruptcy. Antilla is an important customer amongst several for
Avarda, which is a subsidiary owned 51% by TF Bank.

Avarda is in a start-up phase and is included in the segment Sales
Finance, which in turn represents approximately 20% of the TF Bank
Group's turnover.

The total financial exposure for TF Bank is very limited as Avarda's
credit risk exposure is primarily to Antilla's customers (consumers).
It relates predominantly to any outstanding payments for returns and
any eventual complaints. Our assessment is that the risk exposure for
Avarda AB is in the range of 0.5-1.0 million SEK. In addition, there
is a set-off possibility relating to payments due by Avarda to

The possible loss of future business, depending on the solution chosen
by the administrator, is obviously something Avarda AB will monitor
going forward.

For further information contact Investor Relations +46723686507


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