Highlights
o Non-Performing Loan (NPL) portfolios totaling NOK 1.4 billion sold in October
o Overall NPL ratio down from 22% to 9% after completion of transaction
o Forward flow agreements established for portfolios in Sweden and Finland 
o Increase of Loan-Loss-Provisions (LLP) following review of all portfolios
o Loss of NOK 356 million in third quarter driven by NPL sales and LLP increase
o Loan book up by 3.2% to NOK 8.6 billion in third quarter adjusted for one-off
o Reported net loans was down 3.9% in third quarter
o Yield on performing loans at 12.5% in third quarter, down from 12.9% in
previous quarter
o Return on equity (ROE) based on the target capital adjusted for one-offs was
13.4% in third quarter
o Solid CET1 ratio of 18.8% in third quarter, well above the 17.0% requirement
o CET1 ratio after completion of NPL sales estimated at 20%  

Commenting on the results, CEO Øyvind Oanes, said: 

"Despite the underlying volume growth, we have seen a downward trend in
profitability over several quarters. We have already established a roadmap to
turn this trend, and are considering several measures to to improve
profitability across our products and markets. Important elements will be to
identify and drive actions to improve sales and margins, and a thorough review
of the product portfolio to secure effective capital allocation.

Other important parts of this roadmap are measures for efficiency improvement
such as process optimisation, streamlining of structures and cost reduction
initiatives.

Komplett Bank has executed a set of strong actions to de-risk the balance sheet.
The risk in Komplett Bank is now significantly reduced and the Bank is solid.
This gives us the necessary comfort and we have started on setting the stage for
the further evolution of the Bank. We look forward to go deeper into our plans
at the fourth quarter presentation."

The interim report and presentation are attached to this release and available
at ir.komplettbank.com	

CEO Øyvind Oanes and CFO Henning Fagerbakke will present the Bank's results
today at 08:30 CEST. 

The presentation and the Q&A session will be conducted via Teams, see invite at
https://ir.komplettbank.com/reports-and-presentation/ 

For further information, contact:

Investors: 						 
CFO Henning Fagerbakke 				
+47 95 46 37 20 					
ir.komplettbank.no 

Media:
CEO Øyvind Oanes 
+47 98 90 60 60

About Komplett Bank ASA 
Komplett Bank is a focused Nordic digital niche bank offering personal loans,
credit cards, deposit accounts and online point-of-sales finance products to
consumers. The target group is creditworthy customers with stable personal
finances and no payment remarks. Credit risk is managed largely by automated
processes for credit assessment and underwriting. The Bank has a diversified and
balanced distribution model utilizing both public and proprietary channels.
Operational efficiency and low cost is a foundation for Komplett Bank and is
enabled by centralized operations, modern systems and digital set-up. 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock
exchange announcement was published by Henning Fagerbakke, CFO, Komplett Bank
ASA, on 28 October 2021 at 07:00 CEST.