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Avanza
Avanza Bank Holding |
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Avanza Bank Holding AB (publ): Preliminary Financial Statement 2020

 · Regulatorisk information

Fourth quarter 2020 compared to fourth quarter 2019

  • Customer growth was 85,600 (37,300), an increase of 129 per cent
  • Net inflow in the quarter was SEK 18,700 million (6,820), an increase of 174 per cent
  • Operating income increased by 115 per cent to SEK 706 million, of which SEK 63 million is due to a reduced holding in Stabelo. All revenue lines improved
  • Operating expenses increased by 18 per cent to SEK 221 million. The fourth quarter included a write-down of SEK 16 million for office rent on Vasagatan, as previously announced. Personnel costs were also higher
  • The cost increase for the full year was 11.6 per cent excluding extraordinary relocation costs for 2019 and 2020, in line with previous guidance of 12 per cent. In 2021, the cost increase is estimated at about 15 per cent, as announced in December. The extraordinary relocation costs are not included in the cost growth for 2021, either. The long-term guidance on annual cost growth is 9–12 per cent
  • Net profit amounted to SEK 418 million, an increase of 245 per cent. Profit includes SEK 63 million associated with the reduced holding in Stabelo
  • When the Stabelo holding was reduced, a revaluation of SEK 144 million was recognised via other comprehensive income. Total comprehensive income after tax amounted to SEK 557 million
  • The Board of Directors is proposing, in view of the Swedish Financial Supervisory Authority’s recommendation to distribute not more than 25 per cent of profits for the years 2019 and 2020, a dividend of SEK 0.85 (2.30) per share. The Board has estimated remaining distributable earnings at SEK 2.95 per share, for an extraordinary general meeting to decide on when the recommendation is repealed
  • Chief Operating Officer Gunnar Olsson will succeed Birgitta Hagenfeldt as Deputy CEO
  • Avanza was awarded Sweden’s most satisfied customers in the savings category for the eleventh consecutive year by the Swedish Quality Index
  • Avanza was named Bank of the Year 2020 by the magazine Privata Affärer for the third year in a row
  • In an exclusive collaboration, Avanza launched its second actively managed fund, Avanza Småbolag by Skoglund, with a focus on Swedish small-cap stocks
  • Stock lending was launched, giving endowment insurance customers an opportunity for extra return
  • New equity pages were launched, and in the apps a new summary page and new functions, including a stock swiping feature, were added


Quote from Rikard Josefson, CEO Avanza
“The year finished just as strongly as it began with customer activity remaining high. Growth for the year was record high at over 300,000 new customers and a net inflow of SEK 76 billion. The strong growth, coupled with savings capital of close to SEK 600 billion and the fact that nearly one out of every five kronor of savings is now invested with Avanza, bodes well for 2021.”


Q4Q3ChangeQ4ChangeJan-DecJan-DecChange

20202020%2019%20202019%
Operating income, SEK m706575233291152,3491,19397
Operating expenses, SEK m–221–17725–18718–763–66615
Operating profit, SEK m486396231402471,576520203
Net profit, SEK m418331261212451,335447199
Earnings per share before dilution, SEK2.702.15260.792438.662.94195
Operating margin, %696904326674424









Net inflow, SEK m18,70016,300146,82017476,30032,600134
No. of new customers (net)85,60079,200837,300129303,900139,300118
Savings capital at the end of the period, SEK m570,500514,20011407,70040570,500407,70040

A webcast presentation will be held by Rikard Josefson, CEO, and Birgitta Hagenfeldt, CFO, on 21 January 2021 at 10.00 (CET). 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: 83237775#

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 70 206 69 55
rikard.josefson@avanza.se

Birgitta Hagenfeldt, CFO and Deputy CEO
+46 73 661 80 04
birgitta.hagenfeldt@avanza.se

Sofia Svavar, Head of Investor Relations
+46 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 million customers with over SEK 500 billion in total savings capital. This is equivalent to 5.4 per cent of the Swedish savings market. Avanza is largest in terms of number of transactions among Swedish banks on the Stockholm Stock Exchange including First North. During the last eleven years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: www.avanza.se/ir