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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 2022

 · Regulatorisk information

Third quarter 2022 compared to third quarter 2021

  • Operating income decreased by 3 per cent to SEK 740 million. Mainly net brokerage income and net currency-related income decreased, as a result of lower trading activity. Fund commissions were also lower. Net interest income increased due to higher market interest rates
  • Operating expenses increased by 24 per cent to SEK 238 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 502 million, a decrease of 13 per cent
  • Profit for the period was SEK 433 million, a decrease of 10 per cent
  • Earnings per share before dilution amounted to SEK 2.78, a decrease of 10 per cent

Events during the quarter

  • With Avanza’s external mortgage offer, customers now have the option to also apply for mortgage loans and bridge loans when purchasing a tenant-owned apartment through Stabelo
  • Pension Chase now comprises both occupational pensions and private pensions
  • A feature was launched on the platform to find mutual funds based on individual stocks
  • Peter Almqvist was appointed CIO and member of Group management

Quote from Rikard Josefson, CEO Avanza
“Not everyone will be able to save as much as before. At the same time, it is clearer than ever how important it is to save and have a cash buffer. This should really be a priority for our politicians. Avanza’s profit for the third quarter was strong, largely thanks to higher market interest rates, which have now made net interest income our largest revenue source. Estimated expenses for the full-year are unchanged, but going forward we will be more restrictive in our hiring and focus on efficiencies and consolidating operations.”

Operating income, SEK m74061820767–32,1262,477–14
Operating expenses, SEK m–238–272–13–19224–758–61124
Operating profit, SEK m50234546574–131,3681,866–27
Profit for the period, SEK m43329647481–101,1721,563–25
Earnings per share before dilution, SEK2.781.90463.10–107.5310.09–25
Operating margin, %68561275–76475–11
Return on shareholders’ equity, %42261544–23553–19

Net inflow, SEK m6,0308,400–2818,400–6731,00071,900–57
No. of new customers (net)24,10019,7002370,100–66103,900308,000–66
No. of customers at the end of the period1,764,0001,739,90011,588,400111,764,0001,588,40011
Savings capital at the end of the period, SEK m639,900652,700–2735,000–13639,900735,000–13
Income to savings capital ratio, %0.460.350.100.420.030.400.49–0.10
Costs to savings capital ratio, %0.150.16–

A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 18 October 2022 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 Further information and registration for participation is available at

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, Chief Communications & IR Officer
+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 1.7 million customers with over SEK 600 billion in total savings capital. This is equivalent to over 6 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: