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Resurs Holding revises dividend ratio to 50% of profit

Resurs Holding AB (publ) updated its financial targets, which now include a dividend payout ratio of 50% of group net profit, a common equity Tier 1 ratio of more than 12.5% and return on tangible equity of about 30%.

The target does not include the effects of the implementation of IFRS 9, a new set of accounting standards that revise the approach to provisioning for bad debt.

The lender is aiming for net banking income margin of between 10% and 12%, in line with recent margins, aims to expand lending growth to more than 10% and intends to achieve a cost-income ratio before credit losses of less than 40%, excluding insurance and adjusted for nonrecurring costs.