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Avanza
Avanza Bank Holding |
  SEK |  %   SEK

Interim Report, 1st January - 30th September 2007

 · Regulatorisk information

• Operating income increased by 21 per cent (67%) to SEK 406 million (SEK 336 m)
• The profit after tax increased by 25 per cent (79%) to SEK 168 million (SEK 134 m)
• Earnings per share totalled SEK 6.11 (SEK 4.88)
• Earnings per share during the past twelve-month period have increased to SEK 8.08 (SEK 6.06)
• The over-capitalisation at the end of the year is expected to total between SEK 11 and SEK 12 per share
• The number of accounts increased by 19 per cent (16%) to 155,000 (130,000 as of 31st December 2006) and the total savings capital increased by 14 per cent (25%) to SEK 49,400 million (SEK 43,200 m as of 31st December 2006)

Third quarter

• Operating income increased by 52 per cent (18%) to SEK 132 million (SEK 87 m)
• The profit after tax increased by 68 per cent (6%) to SEK 57 million (SEK 34 m)
• Earnings per share totalled SEK 2.08 (SEK 1.23)

Comments from the Managing Director

“Net savings increased 130 per cent during the third quarter and we gained almost 80 per cent more accounts than during the same period last year. Income was up by 50 per cent and profits by almost 70 per cent. All of this is, in the main, the result of Avanza offering the best savings alternatives. It was, in short, a good quarter,” says Nicklas Storåkers, Managing Director of Avanza.

“The market was turbulent during the third quarter as a result of the world’s capital markets’ concerns about credit. Avanza’s private savers were, however, already on the defensive, even before the fall, so they were relatively well prepared when concerns spread. This meant people reacted considerably more calmly than they had during previous stock market falls. It is too early to say, however, whether calm has been totally restored.”

“We are least happy with net savings – we believe that given that we have the market’s best savings products, we should be attracting even more capital. The preconditions for healthy levels of both net savings and cash inflows during the fourth quarter are, however, good. We are implementing an intensive programme of activities in the run up to 2008 to ensure we can further boost our growth rate and will be launching a number of new products and services over the next six months.”

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