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Helping people keep their commitments

CEO statement Klaus-Anders Nysteen

Klaus-Anders Nysteen, CEO

Continued focus on our strategy

Unprecedented times do not have to imply a change in direction. In 2020, we continued to progress on our strategic agenda and we have not lost sight of our long-term vision and goals. Looking ahead, we are ready to continue our important work with supporting people back to financial inclusion. 

Read the CEO Letter

They demonstrated an extraordinary example of humanity, advisory, listening ear and solutions. A rainy day turned out sunny thanks to the exchange with my Customer Contact Representative. Thanks to him, and to Hoist Finance, I got some light in the current dark world.

Key quarterly events 2020

First quarter
  • Ensured business continuity during the Covid-19 outbreak, securing customer interactions through fully operational contact centres.
  • Establishment of a new sustainability strategy. The strategy outlines ESG goals and indicators, which together with the extensive reporting puts Hoist Finance as a front-runner in the debt resolution industry.
  • Successful AT1 issue further strengthening the capital structure.
Second quarter
  • Strong execution on strategic projects with significant IT investments and closing of third party collection in the UK.
  • Establishment of a new Digital Collections business line.
  • Henrik Käll elected as a new board member at the Annual General Meeting.

 

Third quarter
  • Affirmed investment grade rating Baa3 from Moody's, with revised outlook to negative.
  • Launch of a new platform to support customers with financial planning.

 

Fourth quarter
  • The Swedish FSA has assessed and concluded that Significant
    Risk Transfer (SRT) is achieved in Hoist Finance’s securitisations
  • Successful issuance of senior bonds totalling EUR 200 million and repurchase of EUR 102 million senior bonds issued in 2017.
  • Launch of new operating model to support customer-centric and efficient operations
  • Trust index© of 77% achieved in 2020 Great Place to Work® survey, demonstrating strong progress in line with the Hoist Finance sustainability strategy.

Key  figures of 2020

1,761
Portfolio acquisitions (MSEK)
97%
C/I ratio
82
Profit before tax (MSEK)
-1%
Return on equity

Financial targets

ROE[A]

 >15%

EPS Growth[B]

 15 % CAGR[C]

Cost-to-income Ratio

<65% by 2023

CET1 Ratio

1.75-3.75%

above regulatory requirements

Dividend policy

Dividend will in the long-term correspond to 25-30% of annual net profit, and will be determined annually, with respect to the company’s capital target and the outlook for profitable growth

A) Net profit for the period adjusted for accrued unpaid interest on AT1 capital calculated on annualised basis, divided by equity adjusted for AT1 capital reported in equity, calculated as an average for the financial year based on a quarterly basis.
B) Adjusted for AT1 costs
C) When comparing 2023 vs. 2019 and excluding items affecting comparability (IAC)

Do you have questions?

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- Annual Report 2020 -
- Årsredovisning 2020 -