Aprila continued its strong growth trajectory in the first quarter. Total income amounted to NOK 33.9 million, representing a total income growth of 89% year-on-year. By the end of the quarter, the annual total income run-rate reached NOK 158 million.

As expected, the pre-tax profit for the quarter was negative, amounting to NOK -2.0 million. The pre-tax profit was impacted by an elevated marketing spend of NOK 6 million of which a considerable portion was spent on brand building.

Loan losses amounted to NOK 9.9 million, of which NOK 8.9 million were provisions for loan losses.

Key figures at the end of the quarter:
- Gross lending reached NOK 749 million, an increase of 71% YoY
- Gross lending to credit line accounts amounted to NOK 689 million, an increase of 83% YoY 
- 6,571 unique business customers, an increase of 23% YoY
- Cost/Income was 77% in the quarter and 69% for the last twelve months

The report and presentation are available on the company’s website:
https://www.aprila.no/investor-relations

The results will be presented in a webcast with CEO Halvor Lande and CFO Kjetil Barli today at 10:00 CEST. The presentation will be held in English and may be viewed at https://www.aprila.no/content/investor-relations/webcast/2023-Q1.

A recording of the presentation will be made available on https://www.aprila.no/investor-relations after the presentation.

About Aprila Bank
Aprila is a product- and technology company offering improved access to financing for businesses through innovative financial solutions. Aprila’s API-based technology platform supports both direct customer relationships as well as customer relationships established through partners. The bank commenced operations in April 2018.

For further information, please contact:

Halvor S. Lande
CEO
+47 924 32 305
halvor.lande@aprila.no

Kjetil S. Barli
CFO
+47 908 42 016
kjetil@aprila.no