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Avanza
Avanza Bank Holding |
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Avanza Bank Holding AB (publ): Interim Report January-June 2020

 · Regulatorisk information

Second quarter 2020 compared to second quarter 2019

  • Customer growth was 53,000 (31,500), an increase of 68 per cent
  • Net inflow in the quarter was SEK 19,400 million (8,270), an increase of 134 per cent
  • Operating income increased by 85 per cent. All revenue lines improved. Net brokerage income increased by 148 per cent. Currency-related income and revenues from Avanza Markets, within other income, increased by 175 per cent and 43 per cent respectively. Net interest income increased mainly as a result of improved returns on surplus liquidity and larger lending volumes
  • Operating expenses increased by 12 per cent, mainly due to more staff and consequently higher personnel costs
  • The cost increase for the full year is, as communicated earlier, estimated as 12 per cent, which is within the long-term guidance of an annual cost increase of 9-12 per cent
  • Net profit amounted to SEK 281 million, an increase of 178 per cent
  • Anna Casselblad was appointed new CFO and member of Group Management. She will take on her new role in the spring of 2021
  • “My sustainability label” was launched for funds to facilitate sustainable savings
  • Avanza 75 received a Lipper Fund Award for best fund in the category Mixed Asset SEK Aggressive for the second consecutive year
  • Avanza ranked highest among banks and number six overall in Sweden in Kantar Sifo’s reputation index for 2020
  • In a unique collaboration with TIN Fonder, Avanza launched its first actively managed fund, Avanza World Tech by TIN with focus on Technology, Health and Sustainability
  • Avanza announced that customers with endowment insurance will be able, beginning this autumn, to get an extra return through securities lending

Quote from Rikard Josefson, CEO Avanza
“The trend toward increased interest in savings has strengthened. Especially in the times of crisis it is obvious how important it is to have adequate savings. For Avanza, this has contributed to continued strong customer growth, where we are already in line with 2019 as a whole. Our aim to create the best platform for savings and investments is what has gotten us where we are today. Even if activity slows going forward, I am convinced that we continued to raise our lowest level during the quarter.”


Q2Q1ChangeQ2ChangeJan-JunJan-JunChange

20202020%2019%20202019%
Operating income, SEK m526542–3284851,06755293
Operating expenses, SEK m–185–1794–16612–364–33010
Operating profit, SEK m333361–8117184694217219
Net profit, SEK m281305–8101178585188211
Earnings per share before dilution, SEK1.831.98–80.671733.811.24206
Operating margin, %6367–34122653926









Net inflow, SEK m19,40021,900–118,27013441,30015,800161
No. of new customers (net)53,00086,100–3831,50068139,10065,200113
Savings capital at the end of the period, SEK m444,600368,20021359,30024444,600359,30024

A webcast presentation will be held by Rikard Josefson, CEO, and Birgitta Hagenfeldt, CFO, on 14 July 2020 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 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: 98215329#

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 400 billion in total savings capital. This is equivalent to 4.4 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 ten years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: investors.avanza.se