Aprila Bank delivered a pre-tax profit of NOK 9.2 million and a return on equity of 13.0% in the second quarter 2024. The pre-tax profit was negatively affected by a NOK 2.7 one-off provision related to severance pay. Exluding this one-off, ROE would have been 16.8% in the quarter. 

Total income reached NOK 55.1 million in the third quarter, representing a total income growth of 32% year-on-year. The annual total income run-rate reached NOK 218 million in the quarter. Loan losses amounted to NOK 15.6 million, in line with the bank’s expectations.

Key figures:
- Gross lending increased by NOK 32 million and reached NOK 1,111 million by the end of the quarter, an increase of 29% year-on-year
- Gross lending to credit line accounts increased by NOK 46 million and amounted to NOK 1,098 million at the end of the quarter, an increase of 36% year-on-year
- The bank had 5,422 credit line accounts at the end of the quarter, an increase of 15% year-on-year
- Cost/income was 55% in the quarter (50% excl. the one-off) and 54% for the last twelve months (52% excl. the one-off)
- Return on equity was 13.0% in the quarter and 15.2% 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 Acting CEO Kjetil S. Barli and Acting CFO Espen Engelberg today at 10:00 CET. 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:

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

Espen Engelberg
Acting CFO
+47 954 55 405
espen.engelberg@aprila.no