Komplett Bank Annual Report 2020

Jan Olov Haglund, Chief Executive Officer The organisation Throughout 2020, Komplett Bank’s 157 dedicated employees have shown a great ability to adapt to change, and we believe our corpo- rate culture gives us a comparative advantage. Drive and willingness to take responsibility and ownership sum it up well. Throughout 2020, employees have also been engaged in defining the purpose and values of the Bank. The result of this work is that the Bank has been able to strengthen its culture and the employees’ commitment even with the challenges Covid-19 has brought. During 2020, the Bank has proven to be very competitive in terms of our cost and profitability compared to financial enterprises as a whole, according to our analysis. In addition, Komplett Bank is one of the most well-capitalised consumer banks in the Nordic region. To further strengthen Komplett Bank’s competitiveness, we have prioritised the following areas: Ǵ Increase customer satisfaction by improving the understanding of customer needs, as well as delivering better service and ever better product offerings Ǵ Continue the work of optimising credit risk by improving risk analysis, customer processes and collection Ǵ Strengthen operational efficiency, simplify processes and ensure continuous improvement of operations The outlook In addition to continuously working to increase the value we deliver to customers and at the same time improve our own efficiency, the Bank is supported by underlying macro trends, including digitalisation of society, as well as persistently high demand for our products. With this backdrop, we expect to deliver lending growth of 5-10 percent in 2021. At the same time, we aim to have a long- term dividend capacity of 30-50% of the annual result. However, to deliver annual lending growth of 10% or more over time at target returns, the Bank must expand by offering more products or by entering new geographical areas. Both these strategic alternatives are now being evaluated with the attractive- ness of each market and synergies with current operations as the two key criteria. In 2022, we expect to take the next step in our strategic roadmap, and with it strengthen our ability to offer even more private individuals financial flexibility. This is the last annual report I will present as CEO of Komplett Bank. I will, as previously announced, leave the Bank this summer to become the CEO of Entercard Group. I want to thank our employees, partners and owners for good teamwork over the years. I am proud that together we have managed to strengthen Komplett Bank’s position during 2020. The Board and manage- ment have a common goal of what Komplett Bank will achieve, and the Bank has a good foundation for growth and value creation in 2021 and beyond. Komplett Bank is well capitalised, highly diversified and in a strong competitive position in the attractive Nordic markets. Komplett Bank Annual Report 2020 9