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TF Bank AB ( (SE:TFBANK) ) has issued an announcement.
TF Bank AB has announced a proposal to change its corporate name to Avarda Bank AB, marking a strategic transformation from a Nordic niche bank to a pan-European credit and payment platform. This change aims to better reflect the company’s digital business model and its ambition for growth and value creation in the European market. The name change is subject to approval at an Extraordinary General Meeting and necessary regulatory permits. The company has shifted its focus from Consumer Lending to Credit Cards and Ecommerce Solutions, with Credit Cards now representing 48% of the loan portfolio. The transformation highlights TF Bank’s strong position in several European markets and its commitment to continuous innovation and expansion.
More about TF Bank AB
TF Bank AB is a fast-growing digital credit and payment platform operating in 14 European countries. The company provides simple and flexible payment and financing solutions through its proprietary IT infrastructure. Since its IPO in 2016, TF Bank has focused on scalability and automation, evolving from a Nordic niche bank to a pan-European platform. The company is listed on Nasdaq Stockholm.
YTD Price Performance: 53.75%
Average Trading Volume: 68,011
Technical Sentiment Signal: Buy
Current Market Cap: SEK11.93B
See more data about TFBANK stock on TipRanks’ Stock Analysis page.