Aprila Bank delivered an all-time-high nominal gross lending growth of NOK 113 million, a pre-tax profit of NOK 14.0 million and a return on equity of 20.6% in the second quarter 2024. Although the result is impacted by lower-than-normal personnel expenses due to holiday pay, it reflects the bank’s operational efficiency and the scalability of its business model.

Total income reached NOK 51.0 million in the second quarter, representing a total income growth of 36% year-on-year. The annual total income run-rate reached NOK 205 million in the quarter. Loan losses amounted to NOK 13.3 million, in line with the bank’s expectations.

Key figures:
- Gross lending increased by NOK 113 million and reached NOK 1,079 million by the end of the quarter, an increase of 33% year-on-year
- Gross lending to credit line accounts increased by NOK 123 million and amounted to NOK 1,052 million at the end of the quarter, an increase of 40% year-on-year
- The bank had 5,290 credit line accounts at the end of the quarter, an increase of 21% year-on-year
- Cost/income was 46% in the quarter and 54% for the last twelve months
- Return on equity was 20.6% in the quarter and 15.3% for the last twelve months

Looking ahead, we are confident that the continued adaptation of new technology, combined with the scalability of Aprila’s business model, will continue to improve the bank’s underlying operating expenses and loan losses relative to total income. We expect this to contribute to a steady improvement of the bank’s return on equity over time.

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 an innovative product- and technology company offering enhanced access to financing for businesses. 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