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Avanza Bank Holding |
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Avanza Bank Holding |
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Avanza Bank Holding AB (publ): Interim Report January–March 2023

 · Regulatorisk information

First quarter 2023 compared to first quarter 2022

  • Operating income increased by 13 per cent to SEK 868 million. Net interest income was higher, mainly due to higher market interest rates. Net brokerage income, net currency-related income and other income decreased due to lower trading activity. Fund commissions were lower as well
  • Operating expenses increased by 16 per cent to SEK 289 million, mainly due to higher personnel costs and other expenses. Costs for 2023 are, as previously communicated, estimated at a maximum of
    SEK 1,160 million
  • Operating profit amounted to SEK 579 million, an increase of 11 per cent
  • Profit for the period was SEK 501 million, an increase of 13 per cent
  • Earnings per share before dilution amounted to SEK 3.20, an increase of 12 per cent
  • The Annual General Meeting in March resolved to re-elect all members of the Board of Directors. John Hedberg was elected as a new Board member. The dividend, which was approved as proposed, is SEK 7.50 per share, corresponding to 70 per cent of profit for 2022

Events during the quarter

  • Avanza Disruptive Innovation by ARK Invest was launched. The fund is a collaboration with ARK Investment Management LLC, which is managed by Cathie Wood
  • Avanza Fonder also launched its first Article 9 fund, Avanza Impact by Circulus, in collaboration with Coeli Asset Management. The objective is that the majority of the turnover of the companies in the fund will have direct ties to one or more of the UN Sustainable Development Goals
  • In Universum’s annual survey of Sweden’s most attractive employers for students, Avanza ranked third (3rd) in Business and Economics for the second year in a row

Quote from Rikard Josefson, CEO Avanza
“Customer activity and investor sentiment improved during the quarter, which reduced liquidity. Lower liquidity and improved interest rates on customer deposits negatively affected net interest income. In spite of this, we are reporting our second best quarter ever. Stronger investor sentiment and confidence in the market are positive for our long-term growth, even though macroeconomic development this year in all likelihood will remain uncertain. Customer growth and the strong net inflow in the quarter still shows that those who can are prioritising their savings.”

Operating income, SEK m868847276813
Operating expenses, SEK m–289–2736–24916
Operating profit, SEK m579573152111
Profit for the period, SEK m501494144313
Earnings per share before dilution, SEK3.203.1612.8512
Operating margin, %6768–168–1
Return on shareholders' equity, %3842–4362
Net inflow, SEK m17,000–7,450–32816,6003
No. of new customers (net)41,10012,70022560,100–32
No. of customers at the end of the period1,817,8001,776,70021,720,2006
Savings capital at the end of the period, SEK m715,700663,9008740,900–3
Income to savings capital ratio, %0.500.520.020.400.11
Costs to savings capital ratio, %

A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 24 April 2023 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 Further information and registration for participation is available at

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, Chief Communications & IR Officer
+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 that you as a customer will have more left in your own pockets than with any other bank or pension company. Services include saving in shares, funds, savings accounts, mortgages, and a strong pension offering. Avanza has more than 1.8 million customers with over SEK 700 billion in total savings capital. This is equivalent to over 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 thirteen years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: