Aprila Bank reached underlying overall profitability in the second quarter 2023, delivering a pre-tax profit of NOK 7.8 million in the quarter. Although the result is impacted by modest marketing spend and low personnel expenses, it reflects the bank’s operational efficiency and the scalability of its business model.

Total income amounted to NOK 37.4 million, representing a total income growth of 63% year-on-year. By the end of the quarter, the annual total income run-rate reached NOK 165 million, ahead of the guiding. Loan losses amounted to NOK 11.8 million, of which NOK 10.6 million were provisions for loan losses.

Key figures at the end of the quarter:
- Gross lending reached NOK 811 million, an increase of 57% YoY
- Gross lending to credit line accounts amounted to NOK 753 million, an increase of 66% YoY
- The bank had 4,380 credit line accounts, an increase of 52% YoY
- Cost/Income was 47% in the quarter and 65% 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. Please register your attendance using the following link: https://www.aprila.no/content/investor-relations/register.

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