Aprila Bank delivered a pre-tax profit of NOK 9.6 million in the fourth quarter 2023 and NOK 23 million in 2023. The fourth quarter result is positively influenced by a solid growth in interest income, strong gains on the liquidity portfolio and low loan loss provisions.

Total income reached NOK 47.5 million in the fourth quarter, representing a total income growth of 60% year-on-year. By the end of the quarter, the annual total income run-rate reached NOK 188 million, ahead of the guidance. Loan losses in the quarter amounted to NOK 10.5 million, positively impacted by the divestment of a portfolio of non-performing loans and a continuously improving PD model.

Key figures at the end of the quarter:
- Gross lending reached NOK 909 million, an increase of 35% year-on-year
- Gross lending to credit line accounts amounted to NOK 864 million, an increase of 42% year-on-year
- The bank had 4,819 credit line accounts at the end of the quarter, an increase of 32% year-on-year
- Cost/income was 58% in the quarter and 59% 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 (ROE) 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 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:

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

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