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Avanza Bank Holding |
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Avanza Bank Holding |
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Avanza Bank Holding AB (publ): Preliminary Financial Statement 2021

 · Regulatorisk information

Fourth quarter 2021 compared to fourth quarter 2020

  • Operating income increased by 17 per cent to SEK 824 million. All revenue lines, except other income, improved. A capital gain of SEK 63 million was recognised in other income in the fourth quarter 2020 due to the reduced holding in Stabelo. Excluding one-off effects, operating income increased by 28 per cent
  • Operating expenses increased by 14 per cent to SEK 253 million, mainly due to higher personnel costs. In the fourth quarter 2021, costs of SEK 18 million were recognised due to a new interpretive guidance on accounting for intangible assets. Excluding these and the effect of the provision for rental costs in the fourth quarter 2020, costs increased by 15 per cent
  • The cost increase for the full year amounted to 13 per cent. Excluding costs affecting comparability and the accounting effect of SEK 18 million, the increase was 16.7 per cent, or about SEK 10 million more than the previously communicated estimate. The new financial target from 2022 to spotlight efficiency and the focus on costs is a costs to savings capital ratio of 12 basis points. Costs for 2022 are estimated at between SEK 1,050 million and SEK 1,070 million, compared to previous guidance of an increase of around 20 per cent
  • Operating profit amounted to SEK 571 million, an increase of 18 per cent
  • Profit for the period was SEK 483 million, an increase of 16 per cent
  • The Extraordinary General Meeting in November resolved as proposed to pay an additional dividend of SEK 2.95 per share. In total, 44 per cent of the profit for 2020 has been distributed
  • The Board of Directors proposes a dividend of SEK 9.20 per share (3.80), corresponding to 70 per cent of profit for 2021

Events during the quarter

  • Avanza was awarded Sweden’s most satisfied customers in the savings category for the twelfth consecutive year by the Swedish Quality Index
  • The management fee for the Avanza Auto funds was reduced by 40 per cent
  • “Right Now” was launched in the apps to give savers a simpler overview of their performance on a daily basis

Quote from Rikard Josefson, CEO Avanza
“2021 was another record year for Avanza and after only two years we have reached the long-term targets we set for 2025. Now we are updating the targets with a focus on continued growth. Growth potential is strong and the new target is to reach a market share of 10 per cent of Sweden’s savings market by the end of 2025. Avanza is relevant to everyone who understands the importance of personal savings.”

Operating income, SEK m8247677706173,3012,34941
Operating expenses, SEK m–253–19231–22114–864–76313
Operating profit, SEK m5715740486182,4371,57655
Profit for the period, SEK m4834810418162,0471,33553
Earnings per share before dilution, SEK3.113.1002.701513.198.6652
Operating margin, %6975–669074677
Return on shareholders' equity, %4144–358–175057–6
Net inflow, SEK m17,90018,400–318,700–489,80076,30018
No. of new customers (net)71,80070,100285,600–16379,800303,90025
No. of customers at the end of the period1,660,1001,588,40051,280,300301,660,1001,280,30030
Savings capital at the end of the period, SEK m809,600735,00010570,50042809,600570,50042
Income to savings capital ratio, %0.430.420.000.52–0.090.470.51–0.04
Costs to savings capital ratio, %––0.04

A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 20 January 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 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: 11888346#

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 1.6 million customers with over SEK 800 billion in total savings capital. This is equivalent to 6.6 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: