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

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

 · Regulatorisk information

First quarter 2021 compared to first quarter 2020

  • Customer growth was 152,800 (86,100), an increase of 78 per cent
  • Net inflow in the quarter was SEK 30,500 million (21,900), an increase of 40 per cent
  • Operating income increased by 77 per cent to SEK 957 million. All revenue lines improved. Above all, net brokerage income increased, but also other income, primarily as a result of increased trading in international securities
  • Operating expenses increased by 13 per cent. In the quarter, a reversal of a write-down of SEK 10 million tied to rental costs for the office on Vasagatan positively affected other expenses. Personnel costs were higher due to more staff
  • 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
  • Net profit amounted to SEK 632 million, an increase of 107 per cent
  • The Annual General Meeting approved the proposed dividend of SEK 0.85 per share, corresponding to 10 per cent of profit for 2020. This conforms to the recommendation of the Swedish Financial Supervisory Authority that banks should not distribute more than 25 per cent of their aggregate net earnings for the two financial years 2019–2020. When the recommendation is repealed, the Board of Directors plans to issue another dividend proposal. Estimated distributable earnings of SEK 2.95 per share remain for the financial year 2020
  • Anna Casselblad took on the role as CFO on 1 February
  • Avanza announced its operating profit and net profit for the first quarter on 12 April, since the market, based on consensus estimates, had substantially underestimated the impact of increased customer activity
  • The mortgage offer was expanded in collaboration with Landshypotek Bank
  • The Start offer was expanded to include funds and Avanza became the first company in Sweden to refund all fund fees
  • “Your month” was launched to give customers a continuous overview of their savings
  • Avanza ranked highest in reputation and trust among Swedish financial companies in a survey by Reputation&Trust
  • Avanza was named best blog in banking and finance in Navigator’s annual survey
  • Avanza was ranked as Sweden’s employer of choice in financial services and technology in Universum’s survey of students

Quote from Rikard Josefson, CEO Avanza
“The high level of customer activity from 2020 has continued and even increased at the beginning of 2021. As a result, we can report another record quarter that exceeded the previous quarter by a wide margin. Customer growth for the quarter already surpassed all the previous full years, excluding 2020, and interest in savings has never been higher. With improved pension transfer rights in place, Sweden’s pension savers now can finally choose cheaper and better solutions, based on their personal preferences, without unnecessary fees.”


Operating income, SEK m9577063654277
Operating expenses, SEK m–202–221–8–17913
Operating profit, SEK m75648656361109
Net profit, SEK m63241851305107
Earnings per share before dilution, SEK4.082.70511.98106
Operating margin, %7969106712

Net inflow, SEK m30,50018,7006421,90040
No. of new customers (net)152,80085,6007986,10078
Savings capital at the end of the period, SEK m653,900570,50015368,20078

A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 20 April 2021 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: 77993852#

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 million customers with over SEK 600 billion in total savings capital. This is equivalent to 5.8 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: