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Avanza Bank Holding |
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Avanza Bank Holding |
  SEK |  %   SEK

Avanza Bank Holding AB (publ): Interim Report January–September 2021

 · Regulatorisk information

Third quarter 2021 compared to third quarter 2020

  • Operating income increased by 33 per cent to SEK 767 million. All revenue lines improved, notably fund commissions. Net brokerage income increased as a result of more brokerage-generating customers. Other income increased mainly due to higher income from Avanza Markets and Corporate Finance
  • Operating expenses increased by 9 per cent to SEK 192 million, a result of more staff and consequently higher personnel expenses. Excluding extraordinary relocation costs in the third quarter 2020, expenses increased by 17 per cent
  • The cost increase for the full year is estimated at about 15 per cent, as previously announced, excluding extraordinary relocation and rental costs for 2020 and 2021
  • Operating profit amounted to SEK 574 million, an increase of 45 per cent
  • Profit for the period was SEK 481 million, an increase of 45 per cent
  • The recruitment rate is accelerated as a result of the strong growth, at the same time that the investments in growth continue. The cost increase for 2022 is therefore estimated at around 20 per cent
  • Today Avanza Bank Holding AB (publ) is calling an Extraordinary General Meeting on 16 November 2021 to vote on an additional dividend of SEK 2.95 per share for the financial year 2020

Events during the quarter

  • The range of funds was broadened to include Avanza Sverige, a Swedish equity index-tracking fund with exposure to the entire Swedish market at a low fee
  • Ranked as the most recommended financial brand in Sweden by YouGov BrandIndex
  • Awarded as an attractive employer among young people in surveys by Academic Work and Universum

Quote from Rikard Josefson, CEO Avanza
“During the quarter, which was the second best in Avanza’s history, we exceeded last year’s record level regarding new customers. Customer satisfaction is extremely important to us. Which is why we need to invest further in customer-supporting functions, and also maintain our development agenda. Our goal is a company where we ourselves want to work and be customers.”

Operating income, SEK m7677542575332,4771,64351
Operating expenses, SEK m–192–216–11–1779–611–54113
Operating profit, SEK m5745367396451,8661,09171
Profit for the period, SEK m4814517331451,56391771
Earnings per share before dilution, SEK3.102.9172.154410.095.9669
Operating margin, %7571469675669
Return on shareholders' equity, %4446–355–125357–4
Net inflow, SEK m18,40022,900–2016,3001371,90057,60025
No. of new customers (net)70,10085,100–1879,200–11308,000218,30041
No. of customers at the end of the period1,588,4001,518,20051,194,700331,588,4001,194,70033
Savings capital at the end of the period, SEK m735,000713,6003514,20043735,000514,20043
Income to savings capital ratio, %0.420.44–0.020.48–0.060.490.51–0.01
Costs to savings capital ratio, %0.110.13–0.020.15––0.04

A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 18 October at 10.00 (CEST). The presentation will be held in English and there will be opportunities to ask questions. The presentation can be followed at 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: 78666391#

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

Anna Casselblad, CFO
+46 (0)8 409 420 11

Sofia Svavar, Head of Investor Relations
+46 (0)8 409 420 17

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 1.5 million customers with over SEK 700 billion in total savings capital. This is equivalent to 6.5 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 eleven years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: