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Avanza Bank Holding |
  SEK |  %   SEK
Avanza Bank Holding |
  SEK |  %   SEK

Avanza Bank Holding AB (publ): Interim Report January–June 2021

 · Regulatorisk information

Second quarter 2021 compared to second quarter 2020

  • Operating income increased by 43 per cent to SEK 754 million. All revenue lines improved. Mainly net brokerage income increased, a result of higher trading activity due to more brokerage-generating customers. Fund commissions and currency-related income was also higher
  • Operating expenses increased by 17 per cent to SEK 216 million, mainly due to more staff and consequently higher personnel costs
  • The cost increase for the full year is estimated at about 15 per cent, as previously announced, excluding extraordinary relocation and rental costs for 2020 and 2021
  • Operating profit amounted to SEK 536 million, an increase of 61 per cent
  • Profit for the period was SEK 451 million, an increase of 61 per cent

Events during the quarter

  • Avanza Bank AB reported itself to the Swedish Authority for Privacy Protection due to a potential breach of the GDPR
  • Milestones and Savings Targets were launched to support customers and encourage savings
  • The Nordic Swan Ecolabel was introduced for funds to make sustainable savings easier
  • Avanza ranked highest among banks and number four overall in Kantar Sifo’s reputation index 2021, which means that one of the year’s sustainability targets has been reached

Quote from Rikard Josefson, CEO Avanza
“In the second quarter, we passed 1.5 million customers and SEK 700 billion in savings capital. Although trading activity was lower than in the first quarter, turnover and the number of notes are at a higher level than in 2020. Over 50% more customers since the beginning of 2020 have definitely helped to raise our lowest level.”

Operating income, SEK m754957–21526431,7101,06760
Operating expenses, SEK m–216–2027–18517–419–36415
Operating profit, SEK m536756–29333611,29269486
Profit for the period, SEK m451632–29281611,08258585
Earnings per share before dilution, SEK2.914.08–291.83596.983.8183
Operating margin, %7179–8638766511

Net inflow, SEK m22,90030,500–2519,4001853,50041,30030
No. of new customers (net)85,100152,800–4453,00060237,900139,10071
No. of customers at the end of the period1,518,2001,433,20061,115,500361,518,2001,115,50036
Savings capital at the end of the period, SEK m713,600653,9009444,60061713,600444,60061
Income to savings capital ratio, %0.440.63–0.180.52–0.080.530.520.00
Costs to savings capital ratio, %0.130.13–0.010.18––0.05

A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 14 July 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 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: 30170806#

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 1.5 million customers with over SEK 700 billion in total savings capital. This is equivalent to 6.2 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: