Lea Bank ASA - Earnings Release 2023

Lea bank ASA reports 2023 profit before tax of 140.1 MNOK and proposes a dividend of 52.4 MNOK

Highlights 2023:

· Profit before tax of 140.1 MNOK

· Dividend 52.4 MNOK (NOK 0.55 per share)

· Successful launch of lending product in Spain and savings products in Sweden

· Loan growth of 626 MNOK

· Cost to income ratio of 28.9%

Financial figures for 2023:

· Profit before tax of 140.1 MNOK, after tax 106.2 MNOK

· Gross loans of 6 913 MNOK

· Customer deposits of 6 239 MNOK

· Equity of 1 404 MNOK (after dividend accrual)

· CET1 ratio of 20.18% (after dividend accrual)

· Book value per share of 14.17 NOK

Focus areas 2024:

· Continuing to navigate through an uncertain macroeconomic environment

· Close monitoring of customer behaviour and continued support of customers

through temporary challenges

· Utilize the bank's market presence, within 4 markets, to optimize capital

allocation and develop more diversified funding capabilities

· Prepare redomiciliation of the bank

· Prepare for listing on Nasdaq Stockholm

The bank has delivered positive results every quarter since Q1 2017 and has

generated a pre-tax profit in this period of around 750 MNOK. Over the past

three years, Lea Bank has paid out 186 MNOK in dividends to shareholders (NOK

1.96 per share) with a dividend yield of 6.7%, 9.2% and 7.1% in 2021, 2022 and

2023, respectively (2023 depending on approval from the General Meeting), says

CEO Oddbjørn Berentsen.

Contact information:

Oddbjørn Berentsen, CEO

Phone: +47 22 99 14 00

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