Avanza Bank Holding AB (publ): Interim Report January—June 2022

• Operating income decreased by 18 per cent to SEK 618 million. Mainly net brokerage income and net currency-related income decreased, a result of lower trading activity. Net interest income increased due to higher market interest rates. The Riksbank raised its policy rate by 25 basis points in early May
• Operating expenses increased by 26 per cent to SEK 272 million, mainly due to higher other expenses and personnel costs. As previously announced, the full-year costs are estimated at between SEK 1,050 million and SEK 1,070 million
• Operating profit amounted to SEK 345 million, a decrease of 36 per cent
• Profit for the period was SEK 296 million, a decrease of 34 per cent

Events during the quarter

• The new backoffice system was implemented in mid-April, enabling Avanza to increase efficiency at the same time that the scalability of product development is improved
• Avanza was the highest-ranking bank and shared fifth place for all companies in Kantar Sifo’s branding survey 2022
• In Universum’s annual survey of Sweden’s most attractive employers for students, Avanza improved its ranking to third in Business and Economics
• The letter of intent on a potential partnership with Safello to distribute crypto assets was terminated pending clearer crypto regulations
• Avanza signed the Business ambition for 1.5 °C to set science-based climate targets validated by the Science Based Targets initiative
• Monthly statistics will from now on be published the third bankday, see page 22

Quote from Rikard Josefson, CEO Avanza
“The macro environment in the second quarter created a challenging savings climate that affected both customers and Avanza. The uncertainty was reflected in customer activity, which remained cautious. Despite the macroeconomic conditions, there is still a great need for private savings, which also is reflected in the average monthly recurring savings on the platform of SEK 1.6 billion. The positive standout from a revenue perspective was net interest income, which increased sharply as a result of the higher policy rate.”

A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 14 July 2022 at 11.00 (CEST). The presentation will be held in English and there will be opportunities to ask questions. The presentation can be followed at avanza.se/ir. Phone number for participants:

• Sweden: +46 (0)8 566 426 51
• UK: +44 33 330 008 04
• US: +1 63 191 314 22
• Confirmation code: 71192777#

This Interim Report is published in Swedish and English. In the event of any difference between the English version and the Swedish original, the Swedish version shall prevail.

For further information please contact:
Rikard Josefson, CEO
+46 (0)70 206 69 55
rikard.josefson@avanza.se

Anna Casselblad, CFO
+46 (0)8 409 420 11
anna.casselblad@avanza.se

Sofia Svavar, Chief Communications & IR Officer
+46 (0)8 409 420 17
sofia.svavar@avanza.se

Avanza is a digital platform for savings and investments, founded in 1999. The Parent Company, Avanza Bank Holding AB (publ), is listed on the Stockholm Stock Exchange. Avanza’s customer promise is a better return on your savings than with any other bank or pension provider in Sweden. Services include saving in shares, funds, savings accounts, mortgages, and a strong pension offering. Avanza has more than 1.7 million customers with over SEK 600 billion in total savings capital. This is equivalent to 6.7 per cent of the Swedish savings market. Avanza is largest in terms of number of transactions among Swedish banks on the Stockholm Stock Exchange. During the last twelve years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: avanza.se/ir