Interim Report January–September 2017

1 July–30 September 2017*

Lending to the public rose 13% to SEK 23,218 million
Operating income increased 7% to SEK 769 million
Operating profit increased 21% to SEK 364 million
Earnings per share rose 25% to SEK 1.40
C/I before credit losses (excl. Insurance) was 39.0% (44.6%)
The credit loss ratio was 1.8% (1.9%)

1 January–30 September 2017*

Lending to the public rose 13% to SEK 23,218 million
Operating income increased 9% to SEK 2,283 million
Operating profit increased 19% to SEK 1,026 million
Earnings per share rose 20% to SEK 3.95
C/I before credit losses (excl. Insurance) was 41.3% (45.1%)
The credit loss ratio was 1.8% (1.9%)

"It is an inspiration to lead such a strong and stable company as Resurs. Over the decades, we have built up and developed our business to what it is today – and we continue to develop it every day. We are growing faster than the market, and we are capturing market shares, which means that our business model is broadening its range in the Nordic retail sector, in both physical stores and online.

Kenneth Nilsson, CEO Resurs Holding AB

ABOUT RESURS HOLDING

Resurs Holding (Resurs), which operates through the subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering payment solutions, consumer loans and niche insurance products. Since its start in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 5.5 million private customers in the Nordics. Resurs Bank has had a banking licence since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs Group operates in Sweden, Denmark, Norway and Finland. At the end of the third quarter of 2017, the Group had 752 employees and a loan portfolio of SEK 23.2 billion. Resurs is listed on Nasdaq Stockholm, Large Cap.

*Certain performance measures provided in this section have not been prepared in accordance with IFRS. Definitions of performance measures are provided on page 30. The reasons for using alternative performance measures and reconciliation against information in the financial statements are provided on the website under Financial statements.

The figures in parentheses refer to 30 September 2016 in terms of financial position, and to the year-earlier period in terms of profit/loss items.

STATEMENT BY THE CEO

ANOTHER RECORD-BREAKING QUARTER – CONFIRMATION OF RESURS'S BUSINESS MODEL

This report for the third quarter of 2017 is Resurs Holding's seventh interim report since the Group was listed on 29 April 2016. In all our reports as a listed company, we have presented new, record-breaking figures for both volumes and earnings. This comes as no surprise to us at Resurs because we have been doing just that for 40 years – reporting continuous profitable growth year after year.

The third quarter of 2017 revealed record-breaking figures for the loan portfolio, which is now SEK 23.2 billion, corresponding to growth of 13 per cent, and we delivered profit after tax of SEK 280 million. Lending growth remained strong in both our banking segments and in all of our markets. At the same time, we are maintaining good control of our low and stable credit losses. We have been within the 2-3 per cent range since the 1990s and are now at a historic low of 1.8 per cent.

It is an inspiration to lead such a strong and stable company as Resurs. Over the decades, we have built up and developed our business to what it is today – and we continue to develop it every day. We are growing faster than the market, and we are capturing market shares, which means that our business model is broadening its range in the Nordic retail sector, in both physical stores and online.

Continued high pace of digitisation

We maintained a high pace of digitisation in various parts of our operations. In the third quarter, we launched our mobile wallet Loyo Pay in Finland and we have already seen favourable results.

In customer service, we are taking the next step in our digitisation process. We were among the first to use digital identification through Mobile BankID for inbound customer calls. We also launched a new system that guides our personnel toward more targeted cross-sales for incoming calls. It is easier to sell to customers who already know about us and our products, and provides better-targeted sales and lower costs.

In the latter part of the quarter, we also introduced robotics solutions for a number of previously manual processes to our customer administration. We see great potential in our efforts to continue to automate processes, which will increase our scalability, meaning that we will be able to add greater business value without increasing our costs.

Several new retail finance partners during the quarter

We entered into a number of collaborations with new, attractive retail finance partners during the quarter. One example is the launch of yearly upgrade programmes together with several Apple Premium Resellers, meaning that customers can pay a monthly fee to upgrade their Apple products to newer models every year.

We also signed an agreement with Lufthansa's Miles & More, Europe's leading airline customer loyalty programme. Together we launched the MasterCard credit card in Sweden, allowing customers to earn points and take advantage of attractive offers from Miles & More. As in the first half of the year, we entered into collaborations with a number of e-commerce partners, for example, the Norwegian travel agent Fly Smarter.

We are continuing to capture market shares, broaden the market and create new growth opportunities through innovative solutions. We have done this for more than 40 years – and we intend to continue doing so in the years to come.

LENDING 23,218 MSEK

LENDING GROWTH

+13%

NET PROFIT FOR THE PERIOD (excl. nonrecurring costs)*

+8%

Kenneth Nilsson, CEO, Resurs Holding AB

PERFORMANCE MEASURES

SEKm unless otherwise specified	Jul–Sep 2017	Jul-Sep 2016	Change	Jan-Sep 2017	Jan-Sep 2016	Change	Jan–Dec 2016
Operating income	769	717	7%	2,283	2,103	9%	2,797
Operating profit	364	302	21%	1,026	864	19%	1,140
Net profit for the period	280	225	25%	791	661	20%	905
Net profit for the period, adjusted for nonrecurring costs*	280	260	8%	791	722	10%	966
Earnings per share, SEK	1.40	1.12	25%	3.95	3.30	20%	4.52
Earnings per share, adjusted for nonrecurring costs, SEK*	1.40	1.30	8%	3.95	3.61	10%	4.83
C/I before credit losses, %	39.7	44.8		41.9	45.5		45.8
C/I before credit losses (excl. Insurance), %*	39.0	44.6		41.3	45.1		44.7
Common Equity Tier 1 ratio, %	14.0	13.6		14.0	13.6		13.2
Total capital ratio, %	16.0	14.6		16.0	14.6		14.1
Lending to the public	23,218	20,593	13%	23,218	20,593	13%	21,204
NIM, %*	10.5	11.2		10.6	11.2		11.1
NBI margin, %*	12.8	13.5		12.9	13.6		13.6
Credit loss ratio, %*	1.8	1.9		1.8	1.9		1.9
Return on equity excl. intangible assets (RoTE), %* Return on equity excl. intangible assets, adjusted for	26.5	23.4		24.6	24.5		24.3
nonrecurring costs (RoTE), %*	26.5	26.8		24.6	26.6		25.8
the financial statements are provided on the website under Financial statements.


GROUP RESULTS* THIRD QUARTER 2017, JULY—SEPTEMBER Operating income The Group's operating income increased 7 per cent to SEK 769 million (717). The NBI margin for the banking operations was 12.8 per cent (13.5 per cent). Net interest income increased 7 per cent to SEK 603 million (566), with interest income amounting to SEK 672 million (627) and interest expense to SEK -68 (-61). Fee & commission income amounted to SEK 56 million (57) and fee & commission expense to SEK -18 million (-13), resulting in a total net commission for the banking operations of SEK 39 million (45).				+	NET INTEREST INCOME 7%

GROUP RESULTS*

THIRD QUARTER 2017, JULY—SEPTEMBER

Operating income

earned increased 8 per cent. Fee & commission expense in the insurance operations amounted to SEK -47 million (-78). In total, net insurance income increased 49 per cent to SEK 86 million (57). The increase was largely due to the unprofitable travel-insurance programme in the UK that was discontinued in 2016.

Net expense from financial transactions amounted to SEK -6 million (1). The change related to value fluctuations in investments in interest-bearing securities and shares, and exchange-rate differences in assets, liabilities and derivatives in foreign currencies. Other operating income amounted to SEK 48 million (49), primarily comprising remuneration from lending operations.

Operating expenses

The Group's expenses before credit losses totalled SEK -305 million (-321). The yearearlier quarter included a nonrecurring cost of SEK -35 million attributable to the penalty fee from the Swedish Financial Supervisory Authority. Adjusted for the penalty fee, expenses increased 7 per cent. Year-on-year expenses increased in absolute terms as a result of intensified marketing activities and higher investments in IT. Personnel expenses rose 7 per cent to SEK -122 million (-115), mainly as a result of the recruitment of new employees in IT. Viewed in relation to the operations' income, the cost level (excluding Insurance) continued to decline and amounted to 39.0 per cent (44.6 per cent, excluding the nonrecurring cost 39.4 per cent).

Credit losses totalled SEK -100 million (-94) and the credit loss ratio was 1.8 per cent (1.9 per cent) due to sustained growth in the loan portfolio and improved credit quality.

Profit

Operating profit increased 21 per cent to SEK 364 million (302). Net profit for the quarter amounted to SEK 280 million (225) and excluding nonrecurring costs the increase was 8 per cent. Tax expense for the period amounted to SEK -84 million (-77).

NINE MONTHS 2017, JANUARY–SEPTEMBER

Operating income and expenses

The Group's operating income increased 9 per cent to SEK 2,283 million (2,103), primarily due to growth in lending. The NBI margin for the banking operations was 12.9 per cent (13.6 per cent). Net interest income increased 9 per cent to SEK 1,784 million (1,640), with interest income amounting to SEK 1,980 million (1,814) and interest expense to SEK -196 (-174). Fee & commission income amounted to SEK 187 million (172) and fee & commission expense to SEK -48 million (-38). This resulted in a total net commission for the banking operations of SEK 138 million (135), up 3 per cent.

The Group's expenses before credit losses totalled SEK -957 million (-957). The preceding year was negatively impacted by nonrecurring costs of SEK -34 million for the IPO and the penalty fee of SEK -35 million from the Swedish Financial Supervisory Authority. Adjusted for nonrecurring costs, expenses increased 8 per cent. Year-onyear expenses increased in absolute terms as a result of intensified marketing activities and higher investments in IT. Viewed in relation to the operations' income, the cost level (excluding Insurance) continued to decline and amounted to 41.3 per cent (45.1 per cent, excluding nonrecurring costs 41.6 per cent).

Credit losses totalled SEK -301 million (-282) and the credit loss ratio was 1.8 per cent (1.9 per cent) due to sustained growth in the loan portfolio and improved credit quality.

Profit

Operating profit increased 19 per cent to SEK 1,026 million (864). Net profit for the period amounted to SEK 791 million (661) and excluding nonrecurring costs the increase was 10 per cent. Tax expense for the period amounted to SEK -235 million (-203).

C/I-RATIO (excl. Insurance) 39.0%

NET PROFIT FOR THE PERIOD (excl. nonrecurring costs)*

FINANCIAL POSITION AT 30 SEPTEMBER 2017**

At 30 September 2017, the Group's financial position was strong, with a capital base of SEK 3,854 million (3,340) in the consolidated situation, comprising the Parent Company, Resurs Holding AB, and the Resurs Bank AB Group. The total capital ratio was 16.0 per cent (14.1 per cent) and the Common Equity Tier 1 ratio was 14.0 per cent (13.2 per cent).

At 30 September 2017, lending to the public totalled SEK 23,218 million (21,204), representing a 9 per cent increase since the start of the year, and an 11-per-cent increase excluding currency effects. Lending to the public on 30 September 2016 totalled SEK 20,593 million, representing a 13-per-cent annual increase, and a 14-percent annual increase excluding currency effects. This exceeded the Group's established mid-term financial target of 10 per cent. The increase was driven by both banking segments and by all markets.

In addition to capital from shareholders, the operations are financed by deposits from the public, the bonds issued under the MTN programme and the securitisation of loan receivables (ABS financing). The Group pursues a strategy of actively working with various sources of financing in order to use the most suitable source of financing at any time and to create highly diversified financing in the long term.

Deposits from the public at 30 September 2017 fell 4 per cent to SEK 17,960 million (18,618), which is in line with the strategy of highly diversified financing. Financing through issued securities totalled SEK 5,112 million (3,316).

Liquidity remained healthy and the liquidity coverage ratio (LCR) was 194 per cent (181 per cent) in the consolidated situation. There has been a minimum statutory LCR ratio of 80 per cent since 2017 that will increase to 100 per cent from 2018. Lending to credit institutions at 30 September 2017 amounted to SEK 3,001 million (3,295). Holdings of treasury and other bills eligible for refinancing, as well as bonds and other interestbearing securities, totalled SEK 2,710 million (2,778).

Cash flow from operating activities amounted to SEK -1,717 million (273) for the first nine months of the year. Cash flow from deposits amounted to SEK -490 million (1,828) and the net change in investment assets totalled SEK 41 million (-589). Cash flow from investing activities for the first nine months totalled SEK -48 million (-23) and cash flow from financing activities was SEK 1,505 million (437). Bonds totalling SEK 1,700 million and NOK 400 million have been issued under Resurs Bank's MTN programme since the start of the year, of which SEK 300 million pertained to subordinated Tier 2 bonds. Resurs Holding paid a dividend of SEK 600 million during the period.

Intangible assets amounted to SEK 1,871 million (1,885), mainly comprising the goodwill that arose in the acquisition of yA Bank in 2015.

**Comparative figures for this section refer to year-end 2016, except for cash flow for which comparative figures refer to the same period in the preceding year.

TOTAL CAPITAL RATIO

16%

Trend in lending to the public in SEK billion.

LIQUIDITY COVERAGE RATIO

194%

SEGMENT REPORTING

RESURS HOLDING'S THREE SEGMENTS

Resurs Holding has divided its operations into three business segments, based on the products and services offered: Payment Solutions, Consumer Loans and Insurance

Payment Solutions delivers finance, payment and loyalty solutions that drive retail sales, as well as credit cards to the public. Consumer Loans focuses primarily on lending to consumers. Insurance includes the wholly owned subsidiary Solid Försäkring, active within consumer insurance. In 2017, Payment Solutions accounted for 41 per cent of the Group's operating income, while Consumer Loans and Insurance accounted for 53 and 6 per cent, respectively.

PERCENTAGE OF OPERATING INCOME JAN-SEP 2017

PAYMENT SOLUTIONS

Strong growth and new retail finance partners

THIRD QUARTER 2017, JULY–SEPTEMBER

NINE MONTHS 2017, JANUARY–SEPTEMBER

ABOUT PAYMENT SOLUTIONS

PERFORMANCE MEASURES — PAYMENT SOLUTIONS

					RESURS HOLDING AB INTERIM REPORT JAN–SEP 2017
PAYMENT SOLUTIONS

Strong growth and new retail finance partners
THIRD QUARTER 2017, JULY–SEPTEMBER Payment Solutions signed several new partnerships during the third quarter. One of the launches in Sweden was the new collaboration with Lufthansa's Miles & More, Europe's leading airline customer loyalty programme. The launch of the credit-card programme allows customers to earn points and take advantage of special offers from Miles & More. The segment also launched yearly upgrade programmes together with several Apple Premium Resellers, meaning that customers can pay a monthly fee to upgrade their Apple products to newer models every year. In the Norwegian market, the online Fly Smarter travel agent became a new partner, as did First Stop tyre dealer which has 45 garages in Norway.					ABOUT PAYMENT SOLUTIONS
The Loyo Pay mobile app and payment solution was launched in Finland during the third quarter with excellent results. The digitisation of credit applications continued to progress well, with two-thirds of all credit applications in Sweden being processed digitally. Digital credit applications are quick, easy and secure for customers, and save time for store personnel who can focus on sales instead of administering a credit application. Before the work on digitising credit applications began, a total of about five million sheets of paper were printed every year by our retail finance partners in Sweden					The Payment Solutions segment is comprised of retail finance and credit cards. Within retail finance, Resurs is the leading partner for sales-driving finance, payment and loyalty solutions in the Nordic region.
alone. In Credit Cards, card sales to existing customers displayed a strong trend for the period. It is easier to sell to customers who already know Resurs, and this provides better targeted sales and lower costs.					Credit Cards comprises Resurs's proprietary credit cards (of which Supreme Card is the best known), and co-branded credit cards for retail finance partners. Resurs currently has about 285,000 credit
Operating income totalled SEK 315 million (300), up 5 per cent year-on-year. Operating income less credit losses amounted to SEK 273 million (260), up 5 per cent year-on-year. The NBI margin was 14.1 per cent (14.3 per cent) for the quarter.					card customers in the Nordic market.
Credit losses in absolute terms followed the growth in lending and were unchanged year on-year, measured as a percentage of lending volumes.						LENDING TO THE PUBLIC
NINE MONTHS 2017, JANUARY–SEPTEMBER Lending to the public at 30 September 2017 totalled SEK 9,052 million (8,469), a 7-per cent year-on-year increase. The increase was related to higher business volumes from both new and existing retail finance partners.					8.5		9.1
Operating income totalled SEK 937 million (885) during the period, a 6 per cent year-on year increase. The increase derived from higher business volumes. The NBI margin amounted to 14.0 per cent (14.4 per cent), with the decline attributable to factors including higher volumes in new retail finance partnerships with a slightly lower NBI margin, but higher profitability in total.
Operating income less credit losses totalled SEK 826 million (767), up 8 per cent year-on					Q3-16		Q3-17
year. Credit losses for the period, both in absolute terms and as a percentage of lending volumes, were lower year-on-year due to improvements in the credit quality of the portfolio.					Trend in lending to the public in SEK billion.
PERFORMANCE MEASURES — PAYMENT SOLUTIONS
SEKm	Jul–Sep 2017	Jul-Sep 2016	Change	Jan-Sep 2017	Jan-Sep 2016	Change	Jan–Dec 2016
Lending to the public at end of the period	9,052	8,469	7%	9,052	8,469	7%	8,786
Operating income	315	300	5%	937	885	6%	1,185
Operating income less credit losses	273	260	5%	826	767	8%	1,026
NBI margin, %	14.1	14.3		14.0	14.4		14.2
Credit loss ratio, %	1.9	1.9		1.7	1.9		1.9
							7

CONSUMER LOANS

Another record-breaking quarter with continued profitable growth

THIRD QUARTER 2017, JULY–SEPTEMBER

NINE MONTHS 2017, JANUARY–SEPTEMBER

PERFORMANCE MEASURES — CONSUMER LOANS

					RESURS HOLDING AB INTERIM REPORT JAN–SEP 2017
CONSUMER LOANS
Another record-breaking quarter with continued profitable growth
THIRD QUARTER 2017, JULY–SEPTEMBER Consumer Loans reported a strong increase in sales and posted yet another record breaking quarter. All countries reported a positive performance, with the strongest trend in absolute terms noted in Sweden and Norway, while Finland and Denmark increased the most measured in per cent.
The new technical platform launched during the year made a positive contribution to the strong growth in Finland during the quarter. The platform provides a simpler and more automated application process for customers and provides us with more opportunities to analyse and enhance the efficiency of credit lending. We continued to roll out the platform in other Nordic countries during the quarter. Growth remained strong in Denmark and the offering to customers outside our database continued to generate positive results.					ABOUT CONSUMER LOANS In the Consumer Loans segment, Resurs offers unsecured loans to consumers who want to finance investments in their homes, holidays or other consumption.
Digitisation is continuing and the My Credit Rating offering on our website was enhanced with new functions during the quarter. My Credit Rating is a unique service in Sweden where customers can log in to the website to see the parameters used by Resurs to assess their credit score and see what their rating is. Resurs can also target customers with personalised offerings based on their credit rating, which has proven highly successful to date.					Resurs also provides help in consolidating loans held by consumers with other banks, with the aim of reducing the consumer's interest expense. Resurs currently holds approximately SEK 14.2 billion in outstanding consumer loans.
Operating income increased 11 per cent in the quarter to SEK 417 million (377). Operating income less credit losses rose 11 per cent to SEK 360 million (324).
The NBI margin was 12.1 per cent (12.9 per cent). The decline was primarily due to the Swedish and Norwegian portfolios reporting the largest volume of lending growth, both of which have slightly lower average interest rates than in other markets. They also report lower credit losses, which can be seen over time.					12.1	LENDING TO THE PUBLIC	14.2
Credit losses in absolute terms were slightly higher year-on-year as a result of higher lending volumes. Measured as a percentage of lending volumes, credit losses were lower year-on-year, due to improved credit quality in the portfolio. NINE MONTHS 2017, JANUARY–SEPTEMBER At 30 September 2017, lending to the public increased 17 per cent to SEK 14,166 million (12,124). Percentage growth was strongest in Finland and Denmark, while Sweden and Norway continued to increase the most in absolute terms.					Q3-16		Q3-17
Operating income increased 11 per cent to SEK 1,220 million (1,102). Operating income less credit losses rose 10 per cent to SEK 1,031 million (937). The NBI margin was 12.2 per cent (13.1 per cent).					Trend in lending to the public in SEK billion.
Credit losses in absolute terms increased in line with growth in the loan portfolio. Measured as a percentage of lending volumes, credit losses were lower year-on-year at 1.9 per cent (2.0 per cent).
PERFORMANCE MEASURES — CONSUMER LOANS
SEKm	Jul–Sep 2017	Jul-Sep 2016	Change	Jan-Sep 2017	Jan-Sep 2016	Change	Jan–Dec 2016
Lending to the public at end of the period	14,166	12,124	17%	14,166	12,124	17%	12,418
Operating income	417	377	11%	1,220	1,102	11%	1,492
Operating income less credit losses	360	324	11%	1,031	937	10%	1,274
NBI margin, %	12.1	12.9		12.2	13.1		13.1
Credit loss ratio, %	1.7	1.8		1.9	2.0		1.9
							8

ABOUT CONSUMER LOANS

Resurs also provides help in consolidating loans held by consumers with other banks, with the aim of reducing the consumer's interest expense. Resurs currently holds approximately SEK 14.2 billion in outstanding consumer loans.

INSURANCE

New strategic partners strengthen operations

THIRD QUARTER 2017, JULY–SEPTEMBER

NINE MONTHS 2017, JANUARY–SEPTEMBER

PERFORMANCE MEASURES — INSURANCE

					RESURS HOLDING AB INTERIM REPORT JAN–SEP 2017
INSURANCE
New strategic partners strengthen operations
THIRD QUARTER 2017, JULY–SEPTEMBER Insurance made further advances in the third quarter in both the existing operations and based on new strategic partnerships that are strengthening the business and leading to continued Nordic expansion. Payment protection insurance for yA Bank was successfully launched in Norway in July. Synsam Group, which was signed in the second quarter, conducted a successful pilot project in the Norwegian, Finnish and Swedish market during the quarter. This marked the start of a full-scale launch in more than 350 stores in Norway, Finland and Sweden, scheduled for the fourth quarter.					ABOUT INSURANCE
During the period, a new partnership agreement was signed with Finnish optician chain Optiplus, which further strengthens the company's Nordic position in the optician sector. A partnership with Speedy Bilservice, part of Mekonomen Group, was also signed and launched in Sweden in the past quarter.					Non-life insurance is offered within the Insurance segment under the Solid Försäkring brand. The focus is on niche coverage, with the Nordic region as the main market.
Premiums earned declined 7 per cent to SEK 203 million (219) for the quarter. The decline was the result of the discontinuation of the travel-insurance programme in the UK that started in autumn 2016. Excluding the UK business, the segment's total premiums earned increased 8 per cent.					Insurance products are divided into four business lines: Travel, Security, Motor and Product. The company partners with leading retail chains in
During the quarter, net income from financial transactions fell SEK 9 million compared with the year-earlier period. The comparative period featured a very strong stock-market trend, while the trend for this quarter was weaker. Operating income fell 3 per cent to SEK 39 million (40) and expenses increased by just under SEK 1 million, primarily due to higher costs related to establishing branch offices in Norway and Finland. This impacted operating income, which fell 10 per cent to SEK 19 million (21).					various sectors, and has about 2.3 million customers across the Nordic region.	PREMIUMS EARNED, NET*
The technical result rose SEK 8 million to SEK 19 million. The combined ratio improved to 91.5 per cent (95.8 per cent) year-on-year, primarily due to an improved claims ratio of 34.1 per cent (38.4 per cent). NINE MONTHS 2017, JANUARY–SEPTEMBER Premiums earned declined 15 per cent to SEK 606 million (710) for the period. This decrease was related to the discontinuation of the UK travel-insurance programme, which is progressing according to plan. Excluding the UK operations, premiums earned increased 7 per cent, corresponding to SEK 41 million.					187		202
Operating income increased 9 per cent to SEK 132 million (121). Net income from financial transactions fell SEK 2 million year-on-year, and interest income also declined by SEK 2 million.					Q3-16 * Trend in premiums earned, net, in SEKm, excluding the UK operations		Q3-17
Operating income increased 9 per cent to SEK 63 million (57) and the technical result rose 22 per cent to SEK 50 million (41). The total combined ratio improved, thus declining to 92.5 per cent (94.8 per cent), primarily due to the significant improvement in the claims ratio for the period, which amounted to 31.9 per cent compared with 37.7 per cent in the year-earlier period.
PERFORMANCE MEASURES — INSURANCE
SEKm	Jul–Sep 2017	Jul-Sep 2016	Change	Jan-Sep 2017	Jan-Sep 2016	Change	Jan–Dec 2016
Premiums earned, net	203	219	-7%	606	710	-15%	909
Operating income	39	40	-3%	132	121	9%	125
Technical result	19	11	73%	50	41	22%	29
Operating profit	19	21	-10%	63	57	9%	40
Combined ratio, %	91.5	95.8		92.5	94.8		98.4
							9

ABOUT INSURANCE Non-life insurance is offered within the Insurance segment under the

PREMIUMS EARNED, NET*

* Trend in premiums earned, net, in SEKm, excluding the UK operations

SIGNIFICANT EVENTS SOME OF RESURS'S NEW

JANUARY–SEPTEMBER 2017

Strengthened capital position due to Resurs Bank securing approval from Swedish Financial Supervisory Authority

The Swedish Financial Supervisory Authority has decided to permit Resurs Holding's subsidiary Resurs Bank, in calculations of capital requirements for currency risk, to exempt items in foreign currency that have already been deducted from the capital base of the consolidated situation.

Digital text message applications – quick and easy for consumers to apply for credit themselves via Resurs Bank

In June 2017, Resurs Bank launched digital text message applications that simplify credit purchases for consumers and retailers. The service was launched in Denmark in the second quarter and in Sweden in the summer of 2017. It is scheduled for launch in Norway and Finland in the autumn.

Resolution on dividends in Resurs Holding

The Annual General Meeting held on 28 April 2017 resolved on a dividend of SEK 3.00 per share, representing earnings per share of 66 per cent. The total dividend amounted to SEK 600 million. The Resurs share was traded ex rights from 2 May 2017. The record date was 3 May 2017 and the dividend was paid on 8 May 2017.

Resurs Bank launched Loyo Pay – the first app for mobile payments both in stores and online

The test version of Loyo Pay was released in November 2016 and the service was fully launched in March 2017. Resurs Bank thus became the first bank to offer its customers a digital payment service that can be used in all sales channels.

Resurs Bank issued subordinated Tier 2 bonds of SEK 300 million

On 17 January 2017, Resurs Bank issued subordinated Tier 2 bonds of SEK 300 million. These subordinated bonds were issued under Resurs Bank's MTN programme and have a tenor of ten years. There is the option of prematurely redeeming the bonds after five years.

AFTER THE END OF THE PERIOD

Resolution on extra dividend and buy-back authorisation

The Extraordinary General Meeting held on 27 October 2017 resolved to pay a cash dividend of SEK 1.50 per share with Tuesday, 31 October 2017 as the record date. Payment to shareholders is expected to take place on Friday, 3 November.

The Meeting also resolved to authorise the Board to acquire own shares on the stock exchange for the period until the next Annual General Meeting. The authorisation to buy back shares encompasses up to 5 per cent of all of the shares in the company.

RETAIL FINANCE PARTNERS IN 2017:

OTHER INFORMATION

Risk and capital management

The Group's ability to manage risks and conduct effective capital planning is fundamental to its ability to be profitable. The business faces various forms of risk including credit risks, market risks, liquidity risks and operational risks. The Board has established operational policies with the aim of balancing the Group's risk taking, and to limit and control risks. All policies are updated as necessary and revised at least once annually. The Board and CEO are ultimately responsible for the Group's risk management. In general, there have been no significant changes regarding risk and capital management during the period. A more detailed description of the bank's risks, liquidity and capital management is presented in Note G2 Liquidity, Note G3 Capital Adequacy, and in the most recent annual report.

Information on operations

Resurs Holding AB is a financial holding company. Operating activities are conducted in the wholly owned subsidiaries Resurs Bank AB, with subsidiaries, and Solid Försäkrings AB. Resurs Bank AB conducts banking operations in the Nordic countries. Operations are primarily consumer-oriented and are licensed by the Swedish Financial Supervisory Authority. Consumer lending is subdivided into retail finance loans, consumer loans, MasterCard and Visa credit cards, and deposits. Retail finance loans are offered to finance both traditional in-store purchases and online purchases. Operations in Finland are conducted through branch office Resurs Bank AB Suomen sivuliike (Helsinki), operations in Denmark through branch office Resurs Bank filial af Resurs Bank (Vallensbæk Strand) and operations in Norway through branch office Resurs Bank AB NUF (Oslo), and also via Resurs Bank's subsidiary yA Bank AS.

Solid Försäkring provides non-life insurance products in Sweden, other Nordic countries and, to some extent, other European countries. Solid Försäkring offers traditional speciality insurance. During the year, Solid Försäkring transferred operations to the branches in Norway and Finland, which commenced on 1 April.

Employees

There were 752 full-time employees within the Group at 30 September 2017, up ten since 30 June and up 24 since the end of 2016. The increase was mainly the result of the recruitment of new employees in IT.

Capital Market Day 2017

Resurs Holding will arrange a Capital Market Day for investors, analysts and the media on Monday, 27 November 2017. The event will be held at IVA konferenscenter in Stockholm.

The purpose of the Capital Market Day is to provide further insight into Resurs Holding's operations, strategy and financial performance. Presentations will be held by Kenneth Nilsson, President and CEO, and Peter Rosén, CFO and Head of IR, together with other senior executives.

Registration information is available from Resurs Holding's website.

NUMBER OF EMPLOYEES

Information about the Resurs share

The ten largest shareholders with direct ownership on 30 September
2017 were:	Share capital
Waldakt (Bengtsson family)	28.6%
Cidron Semper Ltd (Nordic Capital)	26.2%
Swedbank Robur Fonder	9.3%
Andra AP-fonden	3.2%
Handelsbanken Fonder	1.7%
Livförsäkringsbolaget Skandia	1.6%
AFA Försäkring	1.6%
Avanza Pension	1.5%
Didner & Gerge Fonder	1.4%
Catea Group	1.2%
Total	76.3%

Financial targets

2017 were:	The ten largest shareholders with direct ownership on 30 September	Share capital
Waldakt (Bengtsson family)		28.6%
Cidron Semper Ltd (Nordic Capital)		26.2%
Swedbank Robur Fonder		9.3%
Andra AP-fonden		3.2%
Handelsbanken Fonder		1.7%
Livförsäkringsbolaget Skandia		1.6%
AFA Försäkring		1.6%
Avanza Pension		1.5%
Didner & Gerge Fonder		1.4%
Catea Group Total		1.2% 76.3%
Financial targets
Performance measures	Mid-term targets	Jan-Sep 2017
Annual lending growth	about 10%	13%
NBI margin, excl. Insurance	about 13-15%	12.9%
Credit loss ratio	about 2-3%	1.8%
C/I before credit losses	about 40%	41.3%
		14.0%
	over 12.5%
	over 14.5%	16.0%
	about 30%	30.1%
excl. Insurance and adjusted for nonrecurring costs Common Equity Tier 1 ratio Total capital ratio Return on tangible equity (RoTE) adjusted for nonrecurring costs 1) Dividend	at least 50% of profit for the year	n/a
1)	Adjusted for Common Equity Tier 1 of 12.5 per cent and dividends deducted from the capital base for the current year.		NEXT REPORT:

Financial calendar

20 March 2018 2017 Annual Report

THE BOARD'S ATTESTATION

			RESURS HOLDING AB INTERIM REPORT JAN–SEP 2017
THE BOARD'S ATTESTATION
	This interim report has been subject to review by the company's auditors.
Company and Group companies.	The Board of Directors and the CEO certify that this interim report provides a fair review of the Group's and the Parent Company's operations, financial position and results and describes the significant risks and uncertainties faced by the Parent
Helsingborg, 30 October 2017.

Kenneth Nilsson, CEO
Board of Directors,

Jan Samuelson, Chairman of the Board
Martin Bengtsson	Mariana Burenstam Linder	Fredrik Carlsson

Anders Dahlvig	Christian Frick	Lars Nordstrand
Marita Odélius Engström







			13

SUMMARY FINANCIAL STATEMENTS — GROUP

Condensed income statement

Condensed income statement
SEK thousand	Note	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Interest income	G5	671,714	626,961	1,980,212	1,813,718	2,449,066
Interest expense	G5	-68,265	-61,348	-196,374	-173,870	-236,813
Fee & commission income		56,210	57,414	186,838	172,384	225,482
Fee & commission expense, banking operations Premium earned, net	G6	-17,562 202,191	-12,787 218,982	-48,480 604,088	-37,837 709,478	-49,370 907,204
Insurance compensation, net	G7	-69,318	-84,142	-193,162	-268,137	-349,584
Fee & commission expense, insurance operations		-47,307	-77,504	-178,112	-257,281	-340,775
Net income/expense from financial transactions		-6,270	759	-3,117	-2,107	-958
Profit/loss from participations in Group companies					-1,678	-1,678
Other operating income	G8	47,719	48,548	131,593	148,446	193,962
Total operating income		769,112	716,883	2,283,486	2,103,116	2,796,536

General administrative expenses	G9	-251,953	-277,540	-790,312	-817,388	-1,081,596
Depreciation, amortisation and impairment of non-current assets Other operating expenses		-8,828 -44,349	-8,388 -35,407	-26,140 -140,710	-23,055 -117,050	-31,272 -167,454
Total expenses before credit losses		-305,130	-321,335	-957,162	-957,493	-1,280,322

Earnings before credit losses		463,982	395,548	1,326,324	1,145,623	1,516,214
Credit losses, net	G10	-99,880	-93,669	-300,544	-281,809	-376,693
Operating profit/loss		364,102	301,879	1,025,780	863,814	1,139,521
Income tax expense		-83,635	-77,008	-235,052	-203,294	-234,727
Net profit for the period		280,467	224,871	790,728	660,520	904,794

Attributable to Resurs Holding AB shareholders		280,467	224,871	790,728	660,520	904,794
Basic and diluted earnings per share, SEK	G15	1.40	1.12	3.95	3.30	4.52

		Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-Dec
Condensed statement of comprehensive income			2016	2017 790,728	2016 660,520	2016 904,794
		2017 280,467	224,871


SEK thousand Net profit for the period Other comprehensive income that will be reclassified to profit/loss Translation differences for the period, foreign operations		21,858	101,565	-65,555	187,209	166,293
		-9,624	-21,843	11,394	-21,843	-17,910
		2,117	4,805	-2,507	4,805	3,940
Hedge accounting 1) Hedge accounting - tax 1) Comprehensive income for the period		294,818	309,398	734,060	830,691	1,057,117
Attributable to Resurs Holding AB shareholders 1) Refers to a hedge of a net investment in a foreign subsidiary and consists of equity and capital contributions in yA Bank at the time of acquisition.		294,818	309,398	734,060	830,691	1,057,117

Condensed statement of comprehensive income

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Net profit for the period	280,467	224,871	790,728	660,520	904,794

Other comprehensive income that will be reclassified to profit/loss
Translation differences for the period, foreign operations	21,858	101,565	-65,555	187,209	166,293
Hedge accounting 1)	-9,624	-21,843	11,394	-21,843	-17,910
Hedge accounting - tax 1)	2,117	4,805	-2,507	4,805	3,940
Comprehensive income for the period	294,818	309,398	734,060	830,691	1,057,117

Attributable to Resurs Holding AB shareholders	294,818	309,398	734,060	830,691	1,057,117

Condensed statement of financial position

30 Sep 31 Dec SEK thousand Note 2017 2016 Assets Cash and balances at central banks 62,657 56,173 Treasury and other bills eligible for refinancing 841,070 892,068 884,289 Lending to credit institutions 3,000,937 3,294,955 Lending to the public G11 23,218,416 21,204,281 20,592,709 Bonds and other interest-bearing securities 1,869,127 1,886,004 Subordinated debt 34,524 32,491 Shares and participating interests 68,218 65,858 Intangible assets 1,871,384 1,885,106 Property, plant & equipment 39,961 42,079 Reinsurers' share in technical provisions 5,984 7,734 Other assets 165,559 219,143 Prepaid expenses and accrued income 236,128 227,495 TOTAL ASSETS 31,413,965 29,813,387 29,320,766 Liabilities, provisions and equity Liabilities and provisions Liabilities to credit institutions 1,900 1,700 Deposits and borrowing from the public 17,959,598 18,617,943 18,729,434 Other liabilities 1,039,840 1,115,641 Accrued expenses and deferred income 280,252 150,811 Technical provisions 440,380 462,853 Other provisions 6,595 6,988 Issued securities 5,111,827 3,316,130 Subordinated debt 340,820 42,160 Total liabilities and provisions 25,181,212 23,714,226 23,448,431 Equity Share capital 1,000 1,000 Other paid-in capital 2,088,142 2,088,610 Translation reserve 19,398 76,066 Retained earnings incl. profit for the period 4,124,213 3,933,485 Total equity 6,232,753 6,099,161 TOTAL LIABILITIES, PROVISIONS AND EQUITY 31,413,965 29,813,387 29,320,766 See Note G12 for information on pledged assets and commitments.
	Condensed statement of financial position			30 Sep
				2016

				56,740
				3,105,790

				2,213,284
				32,692
				52,619
				1,900,606
				43,929
				11,605
				177,133
				249,370





				1,290,102
				291,839
				460,440
				9,661
				2,624,347
				42,608


				1,000
				2,088,210
				93,914
				3,689,211 5,872,335

Condensed statement of changes in equity

reserve capital in capital earnings incl. profit for the period 1,000 2,050,734 -76,257 3,028,691 Owner transactions 15,000 22,476 Net profit for the period 660,520 Other comprehensive income for the period 170,171 1,000 2,088,210 93,914 3,689,211 Initial equity at 1 January 2016 1,000 2,050,734 -76,257 3,028,691 Owner transactions Unconditional shareholder´s contribution 15,000 22,876 Net profit for the period 904,794 Other comprehensive income for the period 152,323 1,000 2,088,610 76,066 3,933,485 Initial equity at 1 January 2017 1,000 2,088,610 76,066 3,933,485 Owner transactions Option premium received/repurchased -468 -600,000 Net profit for the period 790,728 Other comprehensive income for the period -56,668 Equity at 30 September 2017 1,000 2,088,142 19,398 4,124,213 All equity is attributable to Parent Company shareholders.	SEK thousand	Total equity
660,520 170,171 5,004,168 15,000 904,794 152,323 6,099,161 -468 790,728 -56,668 6,232,753
	Initial equity at 1 January 2016	5,004,168

	Unconditional shareholder´s contribution	15,000
	Option premium received	22,476


	Equity at 30 September 2016	5,872,335



	Option premium received	22,876


	Equity at 31 December 2016	6,099,161



	Dividend paid	-600,000

Cash flow statement (indirect method)

SEK thousand Operating profit	Jan-Sep	Jan-Dec	Jan-Sep
	2017	2016	2016
	1,025,780	1,139,521	863,814
- of which, interest received	1,973,287	2,448,835	1,798,083
- of which, interest paid Adjustments for non-cash items in operating profit	-70,071 452,599	-236,636 341,606	-44,894 339,880
Tax paid	-289,031	-170,355	-145,882
Cash flow from operating activities before changes in operating assets and liabilities	1,189,348	1,310,772	1,057,812
Changes in operating assets and liabilities
Lending to the public	-2,548,326	-2,605,972	-1,800,198
Other assets	63,321	-142,152	35,075
Liabilities to credit institutions	200	-139,560	-141,260
Deposits and borrowing from the public	-490,219	1,786,924	1,828,357
Acquisition of investment assets	-722,598	-1,682,620	-1,463,331
Divestment of investment assets	763,104	1,385,556	874,013
Other liabilities	28,520	-126,206	-117,182
Cash flow from operating activities	-1,716,650	-213,258	273,286
Investing activities
Acquisition of non-current assets	-48,917	-26,640	-23,286
Divestment of non-current assets Divestment of subsidiaries - net liquidity impact	602	3,672 -2,538	3,172 -2,538
Cash flow from investing activities	-48,315	-25,506	-22,652
Financing activities
Dividend paid	-600,000
Unconditional shareholder´s contribution received		15,000	15,000
Issued securities	1,805,011	1,094,600	400,000
Option premium received/repurchased	-468	22,886	22,476
Subordinated debt	300,000
Cash flow from financing activities	1,504,543	1,132,486	437,476
Cash flow for the period	-260,422	893,722	688,110
Cash & cash equivalents at beginning of the year	3,351,128	2,402,046	2,402,046
Exchange difference	-27,112	55,360	72,374
Cash & cash equivalents at end of the period	3,063,594	3,351,128	3,162,530

Adjustment for non-cash items in operating profit Credit losses	300,544	376,693	281,809
	26,140	31,272	23,055
		-650	-440

	-92	1,678	1,678
	-26,443	-28,085	-17,517
	-22,701	-73,720	-73,647
	121,656	3,483	105,830
Depreciation and impairment of property, plant & equipment Profit/loss tangible assets Profit/loss from participations in associated companies Profit/loss on investment assets Change in provisions Adjustment to interest paid/received Currency effects Other items that do not affect liquidity	49,413 4,082	29,331 1,604	19,927 -815

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

G1. Accounting principles

The Group's interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and with applicable provisions of the Swedish Annual Accounts Act for Credit Institutions and Securities Companies and the Swedish Financial Supervisory Authority's regulations and general guidelines on Annual Reports in Credit Institutions and Securities Companies (FFFS 2008:25), as well as the Swedish Financial Reporting Board's recommendation RFR1, Supplementary Accounting Rules for Corporate Groups. The Resurs Group's accounting principles are presented in more detail in the latest annual report. No new IFRS or IFRIC interpretations, effective as from 1 January 2017, have had any material impact on the Group.

The Parent Company has prepared its year-end report in accordance with the requirements for year-end reports in the Annual Accounts Act (AAA) and the Swedish Financial Reporting Board's recommendation RFR 2, Accounting for Legal Entities. The same accounting and valuation policies were applied as in the latest annual report.

IFRS 9 introduces a new model for calculating the credit loss reserve based on expected credit losses, as opposed to the current model based on credit loss events that have occurred. The impairment model includes a three-stage model based on changes in the credit quality of financial assets. Under this three-stage model, assets are divided into three different categories depending on how credit risk has changed since the asset was initially recognised in the balance sheet.

Category 1 encompasses assets for which the credit risk has not increased significantly, category 2 encompasses assets for which the credit risk has increased significantly, while category 3 encompasses defaulted assets. The credit loss provision for assets is governed by the category to which the assets belong. Reserves are made under category 1 for expected credit losses within 12 months, while reserves for category 2 and 3 are made for expected credit losses under the full lifetime of the assets. The Group continued to work intensively on preparing implementation during the first six months of the year. The management believes that it has made significant progress in its work on both developing the underlying calculation models and accompanying structures required for implementing the future accounting standard. Work on developing macrovariables was prioritised in the second quarter. The Group believes that credit loss reserves will increase at the same time as equity will decrease when the new accounting standard is implemented, primarily as a result of assets being included in the calculation of the credit loss reserve without any elevated credit risk. The regulations are also expected to lead to some increased volatility in the credit loss line of the income statement. The effect of the implementation on the capital base cannot be assessed yet since the European Commission's proposal that the effect on the capital base is to be phased in over five years has not yet been adopted. The effect of IFRS 9 on the classification and measurement of securities investments and derivatives for hedge accounting will not be extensive. IFRS 9 takes effect on 1 January 2018. RESURS HOLDING AB | INTERIM REPORT JAN–SEP 201718

The interim information on pages 2-33 comprises an integrated component of this financial report.

G2. Liquidity - Consolidated situation

Liquidity risk includes the risk of not being able to meet liquidity commitments without significantly higher costs.The consolidated situation, comprised of the Parent Company Resurs Holding AB and the Resurs Bank AB Group, must maintain a liquidity reserve and have access to an unutilised liquidity margin in the event of irregular or unexpected liquidity flows.

The Group's liquidity risk is managed through policies that specify limits, responsibilities and monitoring and include a contingency plan. The contingency plan includes, among other things, risk indicators and action plans. The Group's liquidity risk is controlled and audited by independent functions.

Liquidity is monitored on a daily basis and the main liquidity risk is deemed to arise in the event multiple depositors simultaneously withdraw their deposited funds. An internal model is used to set minimum requirements for the amount of the liquidity reserve, calculated based on deposit volumes, the proportion covered by deposit insurance and relationship to depositors. The model also takes into account the future maturities of issued securities. The Board has stipulated that the liquidity reserve may never fall below SEK 1,200 million. Apart from the liquidity reserve, there is an intraday liquidity requirement of at least 4 per cent of deposits from the public, or a minimum SEK 600 million. There are also other liquidity requirements regulating and controlling the business.

The liquidity reserve, totalling SEK 1,693 million (1,740), is in accordance with Swedish Financial Supervisory Authority regulations on liquidity risk management (FFFS 2010:7 and applicable amendments thereto) for the consolidated situation. Accordingly, assets are segregated, unutilised and of high quality. The liquidity reserve largely comprises assets with the highest credit quality rating.

In addition to the liquidity reserve, the consolidated situation has other liquid assets primarily comprised of cash balances with other banks. These assets are of high credit quality and total SEK 3,516 million (3,827) for the consolidated situation. Accordingly, total liquidity amounted to SEK 5,209 million (5,567). Total liquidity corresponded to 29 per cent (30) of deposits from the public. The Group also has unutilised credit facilities of SEK 51 million (553).

Liquidity Coverage Ratio (LCR) for the consolidated situation is reported to the authorities on a monthly basis. The LCR shows the ratio between high qualitative assets and net outflow during a 30-day stressed period. As at 30 September 2017, the ratio for the consolidated situation is 194 per cent (181). There has been a minimum statutory LCR ratio of 80 per cent since 2017; this will increase to 100 per cent by 2018.

All valuations of interest-bearing securities were made at market values that take into account accrued interest.

Financing - Consolidated situation

Summary of liquidity – Consolidated situation

SEK 2,908 million (800), divided between SEK 2,500 million (800) and In Norway, outside the framework of the programme, yA Bank issued NOK 400 million (400) in senior unsecured bonds and subordinated debt



Resurs Bank previously completed a securitisation of loan receivables, a form of structured financing, referred to as Asset Backed Securities (ABS). This took place by transferring loan receivables to Resurs Bank's wholly owned subsidiaries Resurs Consumer Loans 1 Limited. This type of financing was expanded on 21 October 2016, and at 30 September 2017 a total of approximately SEK 2.7 billion in loan receivables had
been transferred to Resurs Consumer Loans. The acquisition of loan receivables by Resurs Consumer Loans was financed by an international financial institution. Resurs Bank has, for a period of 18 months (revolving period), the right to continue sale of certain additional loan receivables to Resurs Consumer Loans. Resurs Bank and Resurs Consumer Loans have provided security for the assets that form part of the securitisation. At the balance sheet date, the external financing
amounted to SEK 2.1 billion (2.1) of the ABS financing.


30 Sep 2017	31 Dec 2016	30 Sep 2016
47,854	74,412	75,992
663,122	668,086	645,701
103,000	148,000	245,000
878,863	849,458	774,858
1,692,839	1,739,956	1,741,551

62,657	56,173	56,740
2,733,073	2,979,000	2,721,364
720,712 3,516,442	792,071 3,827,244	1,198,773 3,976,877
5,209,281	5,567,200	5,718,428


51,025	552,700	553,260
In evaluating liquid assets for LCR reporting, the following assessment of liquid asset quality is made before each value judgement in accordance with
30 Sep	31 Dec	30 Sep
2017	2016	2016
1,134,636	1,090,651	1,070,269
1,759,426	1,577,197	338,360 1,408,629
194%	181%	154%



	624,790 Additional information on the Group's management of liquidity risks is available in the Group's 2016 annual report.	486,546 Stress tests are carried out on a regular basis to ensure that there is liquidity in place for circumstances that deviate from normal conditions. One

SEK thousand	30 Sep 2017	31 Dec 2016	30 Sep 2016
Liquid assets, Level 1	1,134,636	1,090,651	1,070,269
Liquid assets, Level 2	624,790	486,546	338,360
Total liquid assets	1,759,426	1,577,197	1,408,629

LCR measure	194%	181%	154%

G3. Capital adequacy - Consolidated situation

Capital base

G3. Capital adequacy - Consolidated situation Capital requirements are calculated in accordance with European The countercyclical capital buffer requirement will increase to Parliament and Council Regulation EU 575/2013 (CRR) and Directive 2 per cent for Norwegian exposures from 31 December 2017. A 3-per 2013/36 EU (CRD IV). The Directive was incorporated via the Swedish cent systemic risk buffer is included in the capital requirement for the Capital Buffers Act (2014:966), and the Swedish Financial Supervisory Norwegian subsidiary at an individual level, although not in the Authority's (SFSA) regulations regarding prudential requirements and combined buffer requirement for the consolidated situation. The Group capital buffers (FFFS 2014:12). The capital requirement calculation below currently does not need to take into account a buffer requirement for its comprises the statutory minimum capital requirement for credit risk, credit other business areas in Denmark and Finland. valuation adjustment risk, market risk and operational risk. The consolidated situation calculates the capital requirement for credit risk, credit valuation adjustment risk, market risk and operational risk. Credit risk is calculated by applying the standardised method under which the asset items of the consolidated situation are weighted and divided between 17 different exposure classes. The total risk-weighted exposure amount is multiplied by 8 per cent to obtain the minimum capital requirement for credit risk. The basic indicator method is used to calculate the capital requirement for operational risk. Under this method, the capital requirement for operational risks is 15 per cent of the income indicator (meaning average operating income for the past three years). Capital base 30 Sep 31 Dec SEK thousand 2017 2016 2016 Tier 1 capital Common Equity Tier 1 capital Common Tier 4,925,744 4,677,988 Net profit for the year 740,324 904,011 Less: Foreseeable dividend -450,000 -600,000 -306,307 Shares in subsidiaries -100 -100 -100 Intangible assets -1,839,827 -1,850,269 -1,864,636 Deferred tax asset -4,367 -4,374 -9,054 Additional value adjustments -2,348 -2,452 Total Common Equity Tier 1 capital 3,369,426 3,124,804 Dated subordinated loans 484,084 215,325 225,850 484,084 215,325 Total capital base 3,853,510 3,340,129 3,351,090		RESURS HOLDING AB INTERIM REPORT JAN–SEP 2017


	The regulatory consolidation (known as "consolidated situation") comprises the Resurs Bank AB Group and its Parent Company Resurs Holding AB.
	The combined buffer requirement for the consolidated situation comprises a capital conservation buffer requirement and a countercyclical capital buffer requirement. The capital conservation buffer requirement amounts to 2.5 per cent of the riskweighted assets. The countercyclical capital buffer requirement is weighted according to geographical requirements, which amounts to 2 per cent of the riskweighted assets for Swedish exposures and for Norwegian exposures 1.5 per cent of the risk weighted assets.

				30 Sep


				4,695,418
				612,614




				-2,695
				3,125,240
	Tier 2 capital
	Total Tier 2 capital			225,850

Capital requirement

SEK thousand Exposures to institutions Exposures to corporates Retail exposures Exposures in default Exposures in the form of covered bonds Exposures to institutions and companies with short-term credit rating Exposures in the form of units or shares in collective investment undertakings (funds) Equity exposures Other items Total credit risks Credit valuation adjustment risk Market risk Currency risk Operational risk	30 Sep 2017 Risk weighted exposure amount 121,015 302,013 15,920,598 1,709,445 87,786 441,418 107,710 79,997 210,505 18,980,487 7,327	Capital requir ement1) 9,681 24,161 136,756 7,023 35,313 8,617 6,400 16,840 586	31 Dec 2016 Risk weighted exposure amount 139,876 230,782 1,273,648 14,598,673 1,519,823 84,854 481,123 171,965 80,038 261,575 1,518,439 17,568,709	Capital requir ement1) 11,190 18,463 121,586 6,788 38,490 13,757 6,403 20,926 1,405,497 17,251,354	30 Sep 2016 Risk weighted exposure amount 163,335 332,177 1,167,894 14,185,734 1,456,186 77,400 610,384 168,982 80,049 177,107	Capital requir ement1)
						13,067 26,574

						1,134,856 116,495 6,192 48,831 13,519 6,404






						14,169
						1,380,107
			13,511	1,081	11,656	933

	438,918	35,113	1,392,562	111,405	1,372,334	109,787
	4,720,126	377,610	4,720,126	377,610	4,375,273	350,022
Total	24,146,858		1,931,748 23,694,908		1,895,593 23,010,617	1,840,849
Capital ratio and capital buffers				30 Sep 2017	31 Dec 2016	30 Sep 2016
Common Equity Tier 1 ratio, %				14.0	13.2	13.6
Tier 1 ratio, %				14.0	13.2	13.6
Total capital ratio, %				16.0	14.1	14.6
Common Equity Tier 1 capital requirement incl. buffer requirement, %				8.5	8.2	8.2
- of which, capital conservation buffer requirement, %				2.5	2.5	2.5
- of which, countercyclical buffer requirement, % Common Equity Tier 1 capital available for use as buffer, %				1.5 8.0	1.2 6.1	1.2 6.6

Leverage ratio				30 Sep	31 Dec	30 Sep
SEK thousand				2017	2016	2016
Tier 1 capital				3,369,426	3,124,804	3,125,240
Leverage ratio exposure					31,365,103 29,657,595 29,017,862
Leverage ration, %				10.7	10.5	10.8

Capital ratio and capital buffers

	30 Sep 2017	31 Dec 2016	30 Sep 2016
Common Equity Tier 1 ratio, %	14.0	13.2	13.6
Tier 1 ratio, %	14.0	13.2	13.6
Total capital ratio, %	16.0	14.1	14.6
Common Equity Tier 1 capital requirement incl. buffer requirement, %	8.5	8.2	8.2
- of which, capital conservation buffer requirement, %	2.5	2.5	2.5
- of which, countercyclical buffer requirement, %	1.5	1.2	1.2
Common Equity Tier 1 capital available for use as buffer, %	8.0	6.1	6.6

Leverage ratio

SEK thousand	30 Sep 2017	31 Dec 2016	30 Sep 2016
Tier 1 capital	3,369,426	3,124,804	3,125,240
Leverage ratio exposure		31,365,103 29,657,595 29,017,862
Leverage ration, %	10.7	10.5	10.8

G4. Segment reporting

Jul-Sep 2017
SEK thousand	Payment Solutions	Consumer Loans	Insurance	Intra Group adjustment	Total Group
Interest income	240,981	428,448	3,781	-1,496	671,714
Interest expense	-22,913	-46,786	-62	1,496	-68,265
Fee & commission income	80,473	25,801		-50,064	56,210
Fee & commission expense, banking operations	-17,562				-17,562
Premium earned, net			203,091	-900	202,191
Insurance compensation, net			-69,318		-69,318
Fee & commission expense, insurance operations			-97,371	50,064	-47,307
Net income/expense from financial transactions	-3,221	-1,942	-1,107		-6,270
Other operating income	37,413	11,699	5	-1,398	47,719
Total operating income	315,171	417,220	39,019	-2,298	769,112
of which, internal 1)	39,492	10,474	-47,668	-2,298	0
Credit losses, net	-42,270	-57,610			-99,880
Operating income less credit losses	272,901	359,610	39,019	-2,298	669,232
Expenses excl. credit losses 2)			-20,264
Operating profit, Insurance 3)			18,755

Jul-Sep 2016

Payment Solutions 240,981 -22,913 80,473 -17,562 -3,221 37,413 315,171 39,492 -42,270 272,901	The Group CEO evaluates segment development based on net operating income less credit losses, net. The Insurance segment is evaluated at the operating profit/loss level, as this is part of the segment's responsibility. Segment reporting is based on the same principles as those used for the consolidated financial statements. Consumer Loans 428,448 -46,786 25,801 -1,942 11,699 417,220 10,474 -57,610 359,610	Insurance 3,781 -62 203,091 -69,318 -97,371 -1,107 5 39,019 -47,668 39,019 -20,264 18,755	Intra Group adjustment -1,496 1,496 -50,064 -900 50,064 -1,398 -2,298 -2,298 -2,298	Total Group 671,714 -68,265 56,210 -17,562 202,191 -69,318 -47,307 -6,270 47,719 769,112 0 -99,880 669,232




















Payment Solutions	Consumer Loans	Insurance	Intra Group	Total Group
234,980	389,246	4,202	adjustment -1,467	626,961
-21,150	-41,665		1,467	-61,348
60,227	26,606		-29,419	57,414
-12,780	-7			-12,787
		219,141	-159	218,982
		-84,142		-84,142
		-106,923	29,419	-77,504
				759
				48,548 716,883
15,150	13,903	-27,793	-1,260	0

				-93,669 623,214

		-19,551
		20,865



	-3,322 42,293 300,248 -40,414 259,834	-4,087 7,386 377,479 -53,255 324,224	8,168 -30 40,416 40,416	-1,101 -1,260 -1,260

Jan-Sep 2017
SEK thousand	Payment Solutions	Consumer Loans	Insurance	Intra Group adjustment	Total Group
Interest income	730,240	1,243,952	10,418	-4,398	1,980,212
Interest expense	-67,748	-132,880	-144	4,398	-196,374
Fee & commission income	224,771	84,587		-122,520	186,838
Fee & commission expense, banking operations	-48,480				-48,480
Premium earned, net			605,787	-1,699	604,088
Insurance compensation, net			-193,162		-193,162
Fee & commission expense, insurance operations			-300,632	122,520	-178,112
Net income/expense from financial transactions	-9,624	-3,271	9,778		-3,117
Other operating income	107,764	27,951	13	-4,135	131,593
Total operating income	936,923	1,220,339	132,058	-5,834	2,283,486
of which, internal 1)	76,446	45,811	-116,423	-5,834	0
Credit losses, net	-111,002	-189,542			-300,544
Operating income less credit losses	825,921	1,030,797	132,058	-5,834	1,982,942
Expenses excl. credit losses 2)			-69,519
Operating profit, Insurance 3)			62,539

Jan-Sep 2016

SEK thousand Interest income Interest expense Fee & commission income Fee & commission expense, banking operations Premium earned, net	Payment
	Solutions	Consumer Loans	Insurance	Intra Group	Total Group
	730,240	1,243,952	10,418	adjustment -4,398	1,980,212
	-67,748	-132,880	-144	4,398	-196,374
	224,771	84,587		-122,520	186,838
	-48,480				-48,480
			605,787	-1,699	604,088
Insurance compensation, net			-193,162		-193,162
Fee & commission expense, insurance operations			-300,632	122,520	-178,112
Net income/expense from financial transactions	-9,624	-3,271	9,778		-3,117
Other operating income	107,764	27,951	13	-4,135	131,593
Total operating income	936,923	1,220,339	132,058	-5,834	2,283,486
of which, internal 1)	76,446	45,811	-116,423	-5,834
Credit losses, net	-111,002	-189,542			-300,544
Operating income less credit losses	825,921	1,030,797	132,058	-5,834	1,982,942
Expenses excl. credit losses 2)			-69,519
Operating profit, Insurance 3)			62,539
Jan-Sep 2016
SEK thousand	Payment Solutions	Consumer Loans	Insurance	Intra Group adjustment	Total Group
Interest income	685,588	1,120,338	12,474	-4,682	1,813,718
Interest expense	-60,302	-118,246	-4	4,682	-173,870
Fee & commission income	181,801	78,491		-87,908	172,384
Fee & commission expense, banking operations	-37,831	-6			-37,837
Premium earned, net			710,494	-1,016	709,478
Insurance compensation, net			-268,137		-268,137
Fee & commission expense, insurance operations			-345,189	87,908	-257,281
Net income/expense from financial transactions	-6,734	-7,257	11,884		-2,107
Profit/loss from participations in Group companies	-854	-824			-1,678
Other operating income	122,884	29,190	-82	-3,546	148,446
Total operating income	884,552	1,101,686	121,440	-4,562	2,103,116
of which, internal 1)	45,436	41,336	-82,210	-4,562	0
Credit losses, net	-117,348	-164,461			-281,809
Operating income less credit losses	767,204	937,225	121,440	-4,562	1,821,307
Expenses excl. credit losses 2)			-64,214
			57,226

SEK thousand Interest income Interest expense Fee & commission income Fee & commission expense, banking operations Premium earned, net Insurance compensation, net Fee & commission expense, insurance operations Net income/expense from financial transactions Profit/loss from participations in Group companies Other operating income Total operating income of which, internal 1) Credit losses, net Operating income less credit losses Expenses excl. credit losses 2) Operating profit, Insurance 3) 1) Inter-segment revenues mostly comprise mediated payment protection insurance, but also remuneration for Group-wide functions that are calculated according to the OECD's guidelines on internal pricing.	Payment Solutions 921,043 -82,820 247,466 -49,364 -12,214 -854 162,235 1,185,492 65,484 -159,092 1,026,399	Consumer Loans 1,518,093 -160,128 101,460 -6 -3,420 -824 36,778 1,491,953 56,758 -217,601	Insurance 16,103 -38 908,610 -349,584 -464,219 14,676 -80 125,468	Intra Group adjustment -6,173 6,173 -123,444 -1,406 123,444	Total Group 2,449,066 -236,813 225,482 -49,370 907,204 -349,584 -340,775








					-958
					-1,678
				-4,971	193,962
			-115,865	-6,377 -6,377	2,796,536 0

					-376,693
		1,274,352	125,468	-6,377	2,419,843
			-85,333
			40,135
2) Reconciliation of 'Expenses excl. credit losses' against income statement.
SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
As per segment reporting
Expenses excl. credit losses as regards Insurance segment	-20,264	-19,551	-69,519	-64,214	-85,333
Not broken down by segment
Expenses excl. credit losses as regards banking operations	-284,866	-301,784	-887,643	-893,279	-1,194,989
Total	-305,130	-321,335	-957,162	-957,493	-1,280,322
As per income statement
General administrative expenses	-251,953	-277,540	-790,312	-817,388	-1,081,596
Depreciation, amortisation and impairment of tangible and intangible assets	-8,828	-8,388	-26,140	-23,055	-31,272
Other operating expenses	-44,349	-35,407	-140,710	-117,050	-167,454
Total	-305,130	-321,335	-957,162	-957,493	-1,280,322

3) Reconciliation of 'Operating profit' against income statement.	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-Dec
SEK thousand	2017	2016	2017	2016	2016
As per segment reporting
Operating profit, Insurance	18,755	20,865	62,539	57,226	40,135
Not broken down by segment Operating profit as regards banking operations	345,347	281,014	963,241	806,588	1,099,386
Total	364,102	301,879	1,025,780	863,814	1,139,521

As per income statement
Operating profit	364,102	301,879	1,025,780	863,814	1,139,521
Total Assets Assets monitored by the Group CEO refer to 'Lending to the public'.	364,102	301,879	1,025,780	863,814	1,139,521

		Payment Solutions	Consumer Loans	Insurance	Total Group
			8,468,932 12,123,777		20,592,709
		8,785,938 12,418,343
Lending to the public SEK thousand 30 Sep 2016 31 Dec 2016					21,204,281

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
As per segment reporting
Expenses excl. credit losses as regards Insurance segment	-20,264	-19,551	-69,519	-64,214	-85,333
Not broken down by segment
Expenses excl. credit losses as regards banking operations	-284,866	-301,784	-887,643	-893,279	-1,194,989
Total	-305,130	-321,335	-957,162	-957,493	-1,280,322

As per income statement
General administrative expenses	-251,953	-277,540	-790,312	-817,388	-1,081,596
Depreciation, amortisation and impairment of tangible and intangible assets	-8,828	-8,388	-26,140	-23,055	-31,272
Other operating expenses	-44,349	-35,407	-140,710	-117,050	-167,454
Total	-305,130	-321,335	-957,162	-957,493	-1,280,322

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
As per segment reporting
Operating profit, Insurance	18,755	20,865	62,539	57,226	40,135
Not broken down by segment
Operating profit as regards banking operations	345,347	281,014	963,241	806,588	1,099,386
Total	364,102	301,879	1,025,780	863,814	1,139,521

As per income statement
Operating profit	364,102	301,879	1,025,780	863,814	1,139,521
Total	364,102	301,879	1,025,780	863,814	1,139,521

Assets

Payment Solutions	Consumer Loans	Insurance	Total Group
			20,592,709
			21,204,281
			23,218,416
		8,468,932 12,123,777 8,785,938 12,418,343 9,052,008 14,166,408

G5. Net interest income/expense

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Interest income
Lending to credit institutions	929	751	2,273	2,106	2,976
Lending to the public	668,510	618,723	1,971,821	1,793,230	2,435,729
Interest-bearing securities	2,275	7,487	6,118	18,382	10,361
Total interest income	671,714	626,961	1,980,212	1,813,718	2,449,066

Interest expense
Liabilities to credit institutions 1)	2,165	-2,385	-810	-7,271	-9,592
Deposits and borrowing from the public	-56,629	-49,184	-157,961	-137,641	-189,046
Issued securities	-10,500	-8,982	-27,554	-26,661	-35,016
Subordinated debt	-3,487	-495	-9,811	-1,457	-1,995
Other liabilities 2)	186	-302	-238	-840	-1,164
Total interest expense	-68,265	-61,348	-196,374	-173,870	-236,813

Net interest income/expense	603,449	565,613	1,783,838	1,639,848	2,212,253

G6. Premium earned, net

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Premium earned	236,569	230,943	627,052	694,981	915,306
Premiums for specified reinsurance	-7,320	-7,484	-19,191	-20,230	-28,040
Change in provision for unearned premiums and unexpired risks	-26,852	-2,991	-975	44,208	28,853
Reinsurers' share in change in provision for unearned premiums and unexpired risks	-206	-1,486	-2,798	-9,481	-8,915
Total premium earned, net	202,191	218,982	604,088	709,478	907,204

G7. Insurance compensation, net

SEK thousand
	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Interest income
Lending to credit institutions	929	751	2,273	2,106	2,976
Lending to the public Interest-bearing securities	668,510 2,275	618,723 7,487	1,971,821 6,118	1,793,230 18,382	2,435,729 10,361
Total interest income	671,714	626,961	1,980,212	1,813,718	2,449,066

Interest expense
Liabilities to credit institutions 1)	2,165	-2,385	-810	-7,271	-9,592
Deposits and borrowing from the public Issued securities	-56,629 -10,500	-49,184 -8,982	-157,961 -27,554	-137,641 -26,661	-189,046 -35,016
Subordinated debt	-3,487	-495	-9,811	-1,457	-1,995
Other liabilities 2)	186	-302	-238	-840	-1,164
Total interest expense	-68,265	-61,348	-196,374	-173,870	-236,813
Net interest income/expense	603,449	565,613	1,783,838	1,639,848	2,212,253

1) Positive since the reserve was dissolved.
2) Positive due to reclassification.

G6. Premium earned, net
	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-Dec
SEK thousand	2017	2016	2017	2016	2016
Premium earned	236,569	230,943	627,052	694,981	915,306
Premiums for specified reinsurance Change in provision for unearned premiums and unexpired risks	-7,320 -26,852	-7,484 -2,991	-19,191 -975	-20,230 44,208	-28,040 28,853
Reinsurers' share in change in provision for unearned premiums and
unexpired risks	-206	-1,486	-2,798	-9,481	-8,915
Total premium earned, net	202,191	218,982	604,088	709,478	907,204

	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-Dec
	2017 -67,737	2016 -91,884	2017 -203,773	2016 -299,843	2016 -385,312
	2,438	2,812	6,905	8,687	11,134
	-65,299	-89,072	-196,868	-291,156	-374,178

	154	14,272	15,793	27,559	37,629
	0 154	-3,049 11,223	1,124 16,917	-2,377 25,182	-6,817 30,812

	249	-1,853	1,434	13,068	13,881
	249	-1,853	1,434	13,068	13,881

	-4,587	-4,511	-15,014	-15,537	-20,535
	165 -4,422	71 -4,440	369 -14,645	306 -15,231	436 -20,099

	-69,318	-84,142	-193,162	-268,137	-349,584



	Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep
	2017	2016	2017	2016
	37,191	41,052	113,557	126,065
G7. Insurance compensation, net SEK thousand Claims paid, gross Less reinsurance share Total claims paid, net Change in provision for losses incurred and reported, gross Less reinsurance share Total change in provision for losses incurred and reported, net Change in provision for losses incurred but not reported (IBNR), gross Total change in provision for losses incurred but not reported (IBNR), net Operating expenses for claims adjustment, gross Less reinsurance share Total operating expenses for claims adjustment, net Total insurance compensation, net G8. Other operating income SEK thousand Other income, lending to the public Other operating income Total operating income	10,528 47,719	7,496 48,548	18,036 131,593	22,381 148,446	Jan-Dec 2016 167,175 26,787 193,962

G8. Other operating income

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Other income, lending to the public	37,191	41,052	113,557	126,065	167,175
Other operating income	10,528	7,496	18,036	22,381	26,787
Total operating income	47,719	48,548	131,593	148,446	193,962

G9. General administrative expenses

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Personnel expenses	-122,489	-114,951	-389,153	-363,685	-491,137
Postage, communication and notification expenses	-33,064	-35,429	-105,402	-109,537	-148,809
IT expenses	-40,217	-38,789	-125,946	-114,357	-154,886
Cost of premises	-10,064	-9,414	-29,997	-26,520	-34,840
Consultant expenses	-15,122	-21,665	-53,591	-95,021	-119,293
Other	-30,997	-57,292	-86,223	-108,268	-132,631
Total general administrative expenses	-251,953	-277,540	-790,312	-817,388	-1,081,596

G10. Credit losses

G9. General administrative expenses Jul-Sep Jul-Sep Jan-Sep SEK thousand 2017 2016 2017 Personnel expenses -122,489 -114,951 -389,153 Postage, communication and notification expenses -33,064 -35,429 -105,402 IT expenses -40,217 -38,789 -125,946 Cost of premises -10,064 -9,414 -29,997 Consultant expenses -15,122 -21,665 -53,591 Other -30,997 -57,292 -86,223 Total general administrative expenses -251,953 -277,540 -790,312 G10. Credit losses Jul-Sep Jul-Sep Jan-Sep SEK thousand 2017 2016 2017 Individually assessed loan receivables Write-offs of stated credit losses for the period -185 -712 -1,181 Recoveries of previously confirmed credit losses 1,169 14 1,841 Transfers/reversal of provision for credit losses -694 -3,456 -3,599 Net result of individually assessed loan receivables for the period 290 -4,154 -2,939 Collectively assessed homogeneous groups of loan receivables with limited value and similar credit risk Write-offs of stated credit losses for the period -30,750 -46,470 -86,111 Recoveries of previously confirmed credit losses 4,251 8,198 13,563 Transfers/reversal of provision for credit losses -73,671 -51,243 -225,057 Net cost of collectively assessed homogeneous groups of loan receivables -100,170 -89,515 -297,605 Net cost of credit losses for the period -99,880 -93,669 -300,544 G11. Lending to the public and doubtful receivables 30 Sep SEK thousand 2017 Retail sector 24,763,042 22,488,706 21,826,591 Corporate sector 337,582 Total lending to the public 25,100,624 22,796,995 22,142,209 Less provision for anticipated credit losses -1,882,208 Total net lending to the public 23,218,416 21,204,281 20,592,709		Jan-Sep 2016 -363,685 -109,537 -114,357 -26,520 -95,021 -108,268 -817,388	Jan-Dec 2016 -491,137 -148,809 -154,886 -34,840 -119,293








			-132,631
			-1,081,596

		Jan-Sep	Jan-Dec
		2016	2016
		-1,647	-3,470
		159	406
		-3,632	-2,939
		-5,120	-6,003



		-118,808	-166,011
		26,414	37,926
		-184,295	-242,605
		-276,689	-370,690
		-281,809	-376,693
		31 Dec 2016	30 Sep 2016
		308,289	315,618

		-1,592,714	-1,549,500

	Doubtful receivables
Gross doubtful receivables for which interest is not entered as income until payment is made 3,642,694		3,028,008	2,867,673
Provision for anticipated credit losses -1,882,208		-1,592,714	-1,549,500
Doubtful receivables, net 1,760,486		1,435,294	1,318,173

G11. Lending to the public and doubtful receivables

SEK thousand	30 Sep 2017	31 Dec 2016	30 Sep 2016
Retail sector		24,763,042 22,488,706 21,826,591
Corporate sector	337,582	308,289	315,618
Total lending to the public		25,100,624 22,796,995 22,142,209

Less provision for anticipated credit losses	-1,882,208	-1,592,714	-1,549,500
Total net lending to the public		23,218,416 21,204,281 20,592,709

Doubtful receivables
Gross doubtful receivables for which interest is not entered as income until payment is made	3,642,694	3,028,008	2,867,673
Provision for anticipated credit losses	-1,882,208	-1,592,714	-1,549,500
Doubtful receivables, net	1,760,486	1,435,294	1,318,173

G12. Pledged assets, contingent liabilities and commitments

SEK thousand			30 Sep	31 Dec	30 Sep
			2017	2016	2016
Collateral pledged for own liabilities Lending to credit institutions			143,992	90,000	285,800
Lending to the public1)			2,639,073	2,644,300	1,786,550
Assets for which policyholders have priority rights2)			539,548	512,067	506,327
Floating charges				500,000	500,000
Restricted bank deposits3) Total collateral pledged for own liabilities			26,623 3,349,236	24,966 3,771,333	24,124 3,102,801
Contingent liabilities
Guarantees			2,043	480	644
Total contingent liabilities			2,043	480	644
Other commitments
Unutilised credit facilities granted				26,005,204 25,202,908 24,955,319
1) Refers to securitisation 2) Policy holder's rights consists of assets covered by the policyholder privilege SEK 973,944 thousand (967,186) and technical provisions, net SEK -434,396 thousand (455,119).
3) As at 30 September 2017, SEK 23,910 thousand (22,002) in reserve requirement account at the Bank of Finland and SEK 1 581 thousand (1,890) in tax account at Norwegian bank DNB.
G13. Related-party transactions
Resurs Holding AB, corporate identity number 556898-2291, is owned at	Group AB, SIBA AB and NetonNet AB, with which the Resurs Group
30 September 2017 to 28.6 per cent by Waldakt AB and 26.2 per cent by	conducted significant transactions during the period. Normal business transactions conducted during the period between the Resurs Group

	and these related companies are presented below. The Parent Company only conducted transactions with Group companies.
	Transaction costs in the table refer to market-rate compensation for the negotiation of credit to related companies' customers.

	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
	-116,418	-118,320	-346,786	-365,936	-488,204
	-1,830	-2,687	-4,952	-4,043	-5,907
	9,260	10,738	27,625	30,157	40,070
	-10,068 -8,110	-15,726 -10,096	-34,633 -19,815	-52,565 -24,666	-62,125 -33,775
			30 Sep	31 Dec	30 Sep
			2017	2016	2016
			6,765	12,878	12,740
			-1,228,414 -92,508	-1,159,454 -88,765	-1,230,176 -89,498


	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Cidron Semper Ltd (Nordic Capital). Of the remaining owners, no single owner holds 20 per cent or more. There have not been any significant changes to key persons since publication of the 2016 annual report. Companies with significant influence through direct or indirect ownership of the Resurs Group also have controlling or significant influence of Ellos Related-party transactions, significant influence SEK thousand Processing fees Interest expense – deposits and borrowing from the public Fee & commission income Fee & commission expense General administrative expenses SEK thousand Other assets Deposits and borrowing from the public Other liabilities Transactions with key persons SEK thousand Interest expense – deposits and borrowing from the public	-113	-145	-329	-258	-380
SEK thousand			30 Sep 2017	31 Dec 2016	30 Sep 2016

G13. Related-party transactions

Related-party transactions, significant influence

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Processing fees	-116,418	-118,320	-346,786	-365,936	-488,204
Interest expense – deposits and borrowing from the public	-1,830	-2,687	-4,952	-4,043	-5,907
Fee & commission income		10,738	27,625	30,157	40,070
Fee & commission expense	-10,068	-15,726	-34,633	-52,565	-62,125
General administrative expenses	-8,110	-10,096	-19,815	-24,666	-33,775

SEK thousand	30 Sep 2017	31 Dec 2016	30 Sep 2016
Other assets	6,765	12,878	12,740
Deposits and borrowing from the public	-1,228,414	-1,159,454	-1,230,176
Other liabilities	-92,508	-88,765	-89,498

Transactions with key persons

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Interest expense – deposits and borrowing from the public	-113	-145	-329	-258	-380
SEK thousand			30 Sep 2017	31 Dec 2016	30 Sep 2016
Deposits and borrowing from the public			-73,669	-91,941	-76,035

G14. Financial instruments

SEK thousand				30 Sep 2017		31 Dec 2016		30 Sep 2016
				Carrying	Fair value	Carrying	Fair value	Carrying	Fair value
Assets				amount		amount		amount
Cash and balances at central banks				62,657	62,657	56,173	56,173	56,740	56,740
Treasury and other bills eligible for refinancing				841,070	841,070	892,068	892,068	884,289	884,289
Lending to credit institutions				3,000,937	3,000,937	3,294,955	3,294,955	3,105,790	3,105,790
Lending to the public						23,218,416 23,734,782 21,204,281 21,722,227 20,592,709 21,153,404
Bonds				1,869,127	1,869,127	1,886,004	1,886,004	2,213,284	2,213,284
Subordinated loans				34,524	34,524	32,491	32,491	32,692	32,692
Shares and participating interests				68,218	68,218	65,858	65,858	52,619	52,619
Derivatives Other assets				37,221 90,347	37,221 90,347	69,902 123,419	69,902 123,419	2,490 134,138	2,490 134,138
Accrued income				51,423	51,423	26,459	26,459	33,698	33,698
Total financial assets						29,273,940 29,790,306 27,651,610 28,169,556 27,108,449 27,669,144
Intangible assets				1,871,384		1,885,106		1,900,606
Tangible assets				39,961		42,079		43,929
Other non-financial assets				228,679		234,592		267,782
Total assets				31,413,964		29,813,387		29,320,766

SEK thousand				30 Sep 2017		31 Dec 2016		30 Sep 2016
				Carrying amount	Fair value	Carrying amount	Fair value	Carrying amount	Fair value
Liabilities
Liabilities to credit institutions				1,900	1,900	1,700	1,700
Deposits and borrowing from the public						17,959,598 17,959,947 18,617,943 18,621,424 18,729,434 18,733,888
Derivatives				22,008	22,008	49,628	49,628	203,363	203,363
Derivatives instruments hedge accounting				2,902	2,902	17,910	17,910	21,843	21,843
Other liabilities				597,860	597,860	563,797	563,797	595,891	595,891
Accrued expenses				253,587	253,587	109,965	109,965	244,823	244,823
Issued securities				5,111,827	5,142,022	3,316,130	3,347,833	2,624,347	2,631,852
Subordinated debt Total financial liabilities				340,820	355,617	42,160 24,290,502 24,335,843 22,719,233 22,754,425 22,462,309 22,473,885	42,168	42,608	42,225
Provisions				6,595		6,988		9,661
Other non-financial liabilities				884,115		988,005		976,461
Equity				6,232,753		6,099,161		5,872,335
Total equity and liabilities				31,413,965		29,813,387		29,320,766


		30 Sep 2017			31 Dec 2016			30 Sep 2016
	Level 1	Level 2	Level 3	Level 1	Level 2	Level 3	Level 1	Level 2	Level 3


	841,070			892,068			884,289
	1,869,127			1,886,004			2,213,284
	34,524			32,491			32,692
	67,220		998	64,819		1,039	51,569
		37,221			69,902			2,490
	2,811,941	37,221	998	2,875,382	69,902	1,039	3,181,834	2,490

For current receivables, current liabilities and variable-rate deposits, the carrying amount reflects the fair value. Financial assets at fair value SEK thousand Financial assets at fair value through profit or loss: Treasury and other bills eligible for refinancing Bonds and other interest-bearing securities Subordinated loans Shares and participating interests Derivatives Total Financial liabilities at fair value through profit or loss: Derivatives		-22,008			-49,628			-203,363	1,050 1,050

SEK thousand	30 Sep 2017		31 Dec 2016		30 Sep 2016
	Carrying amount	Fair value	Carrying amount	Fair value	Carrying amount	Fair value
Liabilities
Liabilities to credit institutions	1,900	1,900	1,700	1,700
Deposits and borrowing from the public			17,959,598 17,959,947 18,617,943 18,621,424 18,729,434 18,733,888
Derivatives	22,008	22,008	49,628	49,628	203,363	203,363
Derivatives instruments hedge accounting	2,902	2,902	17,910	17,910	21,843	21,843
Other liabilities	597,860	597,860	563,797	563,797	595,891	595,891
Accrued expenses	253,587	253,587	109,965	109,965	244,823	244,823
Issued securities	5,111,827	5,142,022	3,316,130	3,347,833	2,624,347	2,631,852
Subordinated debt	340,820	355,617	42,160	42,168	42,608	42,225
Total financial liabilities			24,290,502 24,335,843 22,719,233 22,754,425 22,462,309 22,473,885
Provisions	6,595		6,988		9,661
Other non-financial liabilities	884,115		988,005		976,461
Equity	6,232,753		6,099,161		5,872,335
Total equity and liabilities	31,413,965		29,813,387		29,320,766

Financial assets at fair value

SEK thousand		30 Sep 2017			31 Dec 2016			30 Sep 2016
	Level 1	Level 2	Level 3	Level 1	Level 2	Level 3	Level 1	Level 2	Level 3
Financial assets at fair value through profit or loss:
Treasury and other bills eligible for refinancing	841,070			892,068			884,289
Bonds and other interest-bearing securities	1,869,127			1,886,004			2,213,284
Subordinated loans	34,524			32,491			32,692
Shares and participating interests	67,220		998	64,819		1,039	51,569		1,050
Derivatives		37,221			69,902			2,490
Total	2,811,941	37,221	998	2,875,382	69,902	1,039	3,181,834	2,490	1,050
Financial liabilities at fair value through profit or loss:
Derivatives		-22,008			-49,628			-203,363
Total	0	-22,008	0	0	-49,628	0	0	-203,363	0

Changes in level 3

Changes in level 3 SEK thousand Shares and participating interests Opening balance Exchange-rate fluctuations Closing balance Determination of fair value of financial instruments Level 1 Listed prices (unadjusted) on active markets for identical assets or liabilities. Level 2 Inputs that are observable for the asset or liability other than listed prices included in Level 1, either directly (i.e., as price quotations) or indirectly (i.e., derived from price quotations). Financial instruments measured at fair value for disclosure purposes The carrying amount of variable rate deposits Fair value of issued securities (MTN) is and borrowing from the public is deemed to reflect fair value. For fixed rate deposits and borrowing from the public, fair value is calculated based on current the close of the revolving period. market rates, with the initial credit spread for deposits kept constant. Fair value of subordinated debt is calculated based on valuation at the listing marketplace. Transfers between the levels No transfers of financial instruments between the levels took place. Financial assets and liabilities that are offset or subject to netting agreements Derivatives are entered into under ISDA agreements. The amounts are not offset in the balance sheet. The majority of derivatives at 30 September 2017 are covered by ISDA Credit Support Annex; accordingly, collateral is obtained and provided in the form of bank deposits between the parties.	Level 3 Inputs for the asset or liability that are not based on observable market data (i.e., unobservable inputs). calculated based on the listing marketplace. For issued securities (ABS), fair value is calculated by assuming that duration ends at The fair value of the portion of lending that has been sent to debt recovery and purchased	Jul-Sep 2017 987 11 998	Jul-Sep 2016 994 56 1,050	Jan-Sep 2017 1,039 -41 998 the original effective interest rate. deemed to reflect fair value.	Jan-Sep 2016 955 95 1,050 non-performing consumer loans is calculated by discounting calculated cash flows at the estimated market interest rate instead of at The carrying amount of current receivables and liabilities and variable rate loans is	Jan-Dec 2016 955 84 1,039













	Assets for derivative agreements total SEK 37 million (70), while liabilities total SEK 25 million (68). Collateral corresponding to SEK 10 million (12) was provided and SEK 12 million (14) was received that had a net effect of SEK 2 million on loans to credit institutions.
G15. Earnings per share
Basic earnings per share is calculated by dividing the profit attributable to Parent Company shareholders by the weighted average number of ordinary shares outstanding during the period.	During the second quarter of 2016, a total of 8,000,000 warrants were issued for a value of approximately SEK 27 million. Issued warrants had no dilutive effect.
During the January - September 2017 period, there were a total of 200,000,000 shares with a quotient value of SEK 0.005.
		Jul-Sep	Jul-Sep	Jan-Sep	Jan-Sep	Jan-Dec
Net profit for the period, SEK thousand		2017 280,467	2016 224,871	2017 790,728	2016 660,520	2016 904,794
Average number of outstanding shares during the period					200,000,000 200,000,000 200,000,000 200,000,000 200,000,000
Earnings per share, SEK		1.40	1.12	3.95	3.30	4.52

Determination of fair value of financial instruments

Level 1

Level 2

Financial instruments measured at fair value for disclosure purposes
----------------------------------------------------------------------	--	--	--	--	--

Transfers between the levels

Financial assets and liabilities that are offset or subject to netting agreements

G15. Earnings per share

	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Net profit for the period, SEK thousand	280,467	224,871	790,728	660,520	904,794
Average number of outstanding shares during the period				200,000,000 200,000,000 200,000,000 200,000,000 200,000,000
Earnings per share, SEK	1.40	1.12	3.95	3.30	4.52

DEFINITIONS

C/I before credit losses

Expenses before credit losses in relation to operating income.

C/I before credit losses (excl. Insurance), %

Expenses before credit losses exclusive of the Insurance segment in relation to operating income exclusive of the Insurance segment.

Capital base

The sum of Tier 1 capital and Tier 2 capital.

Claims ratio, %

Insurance compensation in relation to premium earned.

Combined ratio, %

The sum of insurance compensation and operating expenses as a percentage of premium earned.

Common Equity Tier 1 ratio, %

Common Tier 1 capital in relation to risk-weighted amount as per the Swedish Financial Supervisory Authority's directive; see Note G3.

Credit loss ratio, %

Net credit losses in relation to the average balance of loans to the public.

Earnings per share, SEK

Net income attributable to shareholders in relation to average number of shares.

NBI margin, %

Operating income exclusive of the Insurance segment in relation to the average balance of loans to the public.

NIM, %

Interest income less interest expense exclusive of the Insurance segment in relation to the average balance of loans to the public.

Nonrecurring costs

Items deemed to be of a one-off nature, meaning individual transactions that are not a part of normal business activities. To facilitate the comparison of profit between periods, items are identified and cognised separately since they are considered to reduce comparability. RESURS HOLDING AB | INTERIM REPORT JAN–SEP 201730

Operating costs ratio, %

Operating costs as a percentage of premium earned.

Premium earned, net

Premium earned, net is calculated as the sum of premium income and the change in unearned premiums after deduction of reinsurers' share. Premium earned, net refers to revenue received by an insurance company for providing insurance coverage during a specific period.

Return on equity excl. intangible assets, (RoTE), %

Net profit for the period as a percentage of average equity less intangible assets.

Technical result

Premium earned, net minus claims- and operation expenses net including allocated investment return transferred from non-technical account and other technical income.

Tier 1 capital

The sum of Common Equity Tier 1 capital and other Tier 1 capital.

Tier 2 capital

Mainly subordinated loans that cannot be counted as Tier 1 capital.

Total capital ratio, %

Total capital in relation to risk-weighted amount as per the Swedish Financial Supervisory Authority's directive; see Note G3.

PARENT COMPANY

Income statement

Jul-Sep 2016 9,188 9,188 -2,925 -9,241 -58 -12,224 -3,036 0	Jan-Sep 2017 15,220 15,220 -12,806 -24,320 -233 -37,359 -22,139	Jan-Sep 2016 18,735 18,735 -8,712 -49,208	Jan-Dec 2016
			23,762 23,762


			-15,174
			-52,138
		-197	-255
		-58,117	-67,567
		-39,382	-43,805
			500,000
	-2	1	15
	-314	-6	-289
	-316	-5	499,726
-3,036	-22,455	-39,387	455,921
			43,932
-182	5,072	7,815	-980
-3,218	-17,383	-31,572	498,873
Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
-3,218	-17,383	-31,572	498,873

-3,218	-17,383	-31,572	498,873
-3,218	-17,383	-31,572	498,873

Statement of comprehensive income

SEK thousand	Jul-Sep 2017	Jul-Sep 2016	Jan-Sep 2017	Jan-Sep 2016	Jan-Dec 2016
Net profit for the period	-5,299	-3,218	-17,383	-31,572	498,873
Other comprehensive income that will be reclassified to profit or loss
Comprehensive income for the period	-5,299	-3,218	-17,383	-31,572	498,873
Attributable to Resurs Holding AB shareholders	-5,299	-3,218	-17,383	-31,572	498,873

Balance sheet


Balance sheet
SEK thousand	30 Sep	31 Dec	30 Sep
Assets	2017	2016	2016
Non-current assets
Property, plant & equipment	100	333	391
Financial assets
Participations in Group companies	2,053,390	2,053,390	2,053,390
Total non-current assets	2,053,490	2,053,723	2,053,781
Current assets
Current receivables
Receivables from Group companies	7,966	545,840	6,481
Current tax assets	7,353	1,094	11,585
Other current receivables	257	365	2
Prepaid expenses and accrued income	543	412	464
Total current receivables	16,119	547,711	18,532
Cash and bank balances	9,133	94,333	93,821

Total current assets	25,252	642,044	112,353
TOTAL ASSETS	2,078,742	2,695,767	2,166,134
Equity and liabilities
Equity
Restricted equity
Share capital	1,000	1,000	1,000
Non-restricted equity
Share premium reserve	2,073,934	2,073,620	2,073,210
Profit or loss brought forward	11,679	112,806	112,806
Net profit for the period	-17,383	498,873	-31,572
TOTAL EQUITY	2,069,230	2,686,299	2,155,444
Current liabilities
Trade payables	283	3,194	1,048
Liabilities to group companies	335	108
Other current liabilities	1,501	507	500
Other provisions	225	144	125
Accrued expenses and deferred income	7,168	5,515	9,017
Total current liabilities TOTAL EQUITY AND LIABILITIES	9,512 2,078,742	9,468 2,695,767	10,690 2,166,134

Statement of changes in equity

SEK thousand	Share	Share	Retained	Profit/loss	Total equity
	capital	premium reserve	earnings	for the period
Initial equity at 1 January 2016	1,000	2,050,734	98,107	-301	2,149,540
Owner transactions
Unconditional shareholder´s contribution			15,000		15,000
Option premium received		22,476			22,476
Appropriation of profits according to resolution by Annual General Meeting			-301	301	0
Net profit for the period				-31,572	-31,572
Equity at 30 September 2016	1,000	2,073,210	112,806	-31,572	2,155,444

Initial equity at 1 January 2016	1,000	2,050,734	98,107	-301	2,149,540
Owner transactions
Unconditional shareholder´s contribution			15,000		15,000
Option premium received		22,886			22,886
Appropriation of profits according to resolution by Annual General Meeting			-301	301	0
Net profit for the period				498,873	498,873
Equity at 31 December 2016	1,000	2,073,620	112,806	498,873	2,686,299
Initial equity at 1 January 2017	1,000	2,073,620	112,806	498,873	2,686,299
Owner transactions
Option premium received/repurchased		314			314
Dividend paid			-600,000		-600,000
Appropriation of profits according to resolution by Annual General Meeting			498,873	-498,873	0
Net profit for the period				-17,383	-17,383
Pledged assets, contingent liabilities and commitments
The company has no pledged assets. Accourding to the Board's assessment, the company has no contingent liabilities.

For additional information, please contact:
Kenneth Nilsson, CEO, [email protected]; +46 42 382000 Peter Rosén, CFO & Head of IR, [email protected]; +46 736 564934 Sofie Tarring, IR Officer, [email protected]; +46 736 443395
Resurs Holding AB
Ekslingan 9, Väla Norra

Box 222 09 250 24 Helsingborg
Sweden
Phone: +46 42 382000 E-mail: [email protected]
www.resursholding.se

Pledged assets, contingent liabilities and commitments

For additional information, please contact:

Resurs Holding AB

THIS IS A TRANSLATION FROM THE SWEDISH ORIGINAL

Auditors' report of review of interim financial information

Resurs Holding AB, corporate identity number 556898-2291

Introduction

We have reviewed the condensed interim report for Resurs Holding AB as at September 30, 2017 and for the nine months period then ended. The Board of Directors and the Managing Director are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act for Credit Institutions and Securities Companies and for the parent company in accordance with the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

Scope of review

We conducted our review in accordance with the International Standard on Review Engagements, ISRE 2410 Review of Interim Financial Statements Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act for Credit Institutions and Securities Companies regarding the group, and in accordance with the Swedish Annual Accounts Act regarding the parent company.

Helsingborg, October 30, 2017

Ernst & Young AB

Niklas Paulsson Authorized Public Accountant

AI assistant

Resurs Holding — Interim / Quarterly Report 2017

3104_10-q_2017-10-31_0838b2e5-5245-4036-8977-02e435a5f7e5.pdf

Interim Report January–September 2017

1 July–30 September 2017*

1 January–30 September 2017*

ABOUT RESURS HOLDING

STATEMENT BY THE CEO

ANOTHER RECORD-BREAKING QUARTER – CONFIRMATION OF RESURS'S BUSINESS MODEL

Continued high pace of digitisation

Several new retail finance partners during the quarter

LENDING 23,218 MSEK

PERFORMANCE MEASURES

GROUP RESULTS*

THIRD QUARTER 2017, JULY—SEPTEMBER

Operating income

Operating expenses

Profit

NINE MONTHS 2017, JANUARY–SEPTEMBER

Operating income and expenses

Profit

FINANCIAL POSITION AT 30 SEPTEMBER 2017**

TOTAL CAPITAL RATIO

LIQUIDITY COVERAGE RATIO

SEGMENT REPORTING

RESURS HOLDING'S THREE SEGMENTS

PERCENTAGE OF OPERATING INCOME JAN-SEP 2017

PAYMENT SOLUTIONS

Strong growth and new retail finance partners

THIRD QUARTER 2017, JULY–SEPTEMBER

NINE MONTHS 2017, JANUARY–SEPTEMBER

ABOUT PAYMENT SOLUTIONS

PERFORMANCE MEASURES — PAYMENT SOLUTIONS

CONSUMER LOANS

Another record-breaking quarter with continued profitable growth

THIRD QUARTER 2017, JULY–SEPTEMBER

NINE MONTHS 2017, JANUARY–SEPTEMBER

PERFORMANCE MEASURES — CONSUMER LOANS

ABOUT CONSUMER LOANS

INSURANCE

New strategic partners strengthen operations

THIRD QUARTER 2017, JULY–SEPTEMBER

NINE MONTHS 2017, JANUARY–SEPTEMBER

PERFORMANCE MEASURES — INSURANCE

PREMIUMS EARNED, NET*

SIGNIFICANT EVENTS SOME OF RESURS'S NEW

JANUARY–SEPTEMBER 2017

Strengthened capital position due to Resurs Bank securing approval from Swedish Financial Supervisory Authority

Digital text message applications – quick and easy for consumers to apply for credit themselves via Resurs Bank

Resolution on dividends in Resurs Holding

Resurs Bank launched Loyo Pay – the first app for mobile payments both in stores and online

Resurs Bank issued subordinated Tier 2 bonds of SEK 300 million

AFTER THE END OF THE PERIOD

Resolution on extra dividend and buy-back authorisation

OTHER INFORMATION

Risk and capital management

Information on operations

Employees

Capital Market Day 2017

NUMBER OF EMPLOYEES

Information about the Resurs share

Financial targets

Financial calendar

THE BOARD'S ATTESTATION

SUMMARY FINANCIAL STATEMENTS — GROUP

Condensed income statement

Condensed statement of comprehensive income

Condensed statement of financial position

Condensed statement of changes in equity

Cash flow statement (indirect method)

NOTES TO THE CONDENSED FINANCIAL STATEMENTS

G1. Accounting principles

G2. Liquidity - Consolidated situation

Financing - Consolidated situation

Summary of liquidity – Consolidated situation

G3. Capital adequacy - Consolidated situation

Capital base

Capital requirement

Capital ratio and capital buffers

Leverage ratio

Resurs Holding Interim / Quarterly Report 2017