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2016-11-15

TF Bank AB (publ): Consortio Fashion Group decide to focus on Cellbes and Bubbleroom

Within TF Bank's Sales Finance segment there are a number of brands /
merchants. The largest individual o-operation partner today is
Consortio Fashion Group ("CFG") with brands such as Cellbes,
Bubbleroom and Halens. Sales Finance represents approximately 18% of
the TF Bank Group's total loan portfolio.

The Board of Directors of CFG has decided to phase out the Halens
brand in order to implement a more long-term focus on the other
brands and strategically strengthen CFG's overall competitiveness.
The proposed measure aims to expand investments in the two stronger
and more niche brands, Cellbes and Bubbleroom, in order to create
better conditions for strong growth and profitability. The change
will take place gradually during 2017 and sales in Halens are
scheduled to continue as normal during much of next year, while focus
will be on simultaneously strengthening Cellbes and Bubbleroom.

TF Bank welcomes the focus on the two stronger and more niche brands
of Cellbes and Bubbleroom. TF Bank assesses the impact on the TF Bank
Group as very limited, partly because Sales Finance represents the
smaller of the two segments and partly because the remaining brands
of Cellbes and Bubbleroom already account for the larger share of the
CFG co-operation. Furthermore, the increased investment in Cellbes
and Bubbleroom is expected to strengthen CFG's competitive position
in 2017 and beyond, something that TF Bank welcomes.

For further information please contact:

Sture Stölen, Investor Relations, +46 723 68 65 07, ir@tfbank.se

The information provided in this press release/report is such that TF
Bank AB (publ) is required to disclose pursuant to the Swedish
Financial Instruments Trading Act (1991:980), the Swedish Securities
Markets Act (2007:528) and/or Regulation (EU) No 596/2014 on market
abuse. The information was provided on November 15 at 20.00 CET.

About TF Bank

TF Bank is an online-based niche bank offering consumer banking
services through a highly automated, in house developed, IT platform.
The Company's IT platform is designed for scalability and
adaptability to different products, jurisdictions, currencies and
digital banking solutions. TF Bank conducts banking operations with
deposits and lending to retail customers in Sweden and Finland,
lending to retail customers in Norway, Poland, Denmark, Estonia and
Latvia.

As at September 30, 2016, TF Bank had an outstanding loan portfolio of
SEK 2 357 million. TF Bank has grown its total operating income from
SEK 272 million in 2012 to SEK 388 million in 2015, corresponding to
a compounded annual growth rate of 13 percent.

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http://news.cision.com/tf-bank-ab--publ-/r/consortio-fashion-group-decid...
http://mb.cision.com/Main/13973/2123574/590313.pdf

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