The Swedish Financial Supervisory Authority (FSA) has today informed Avanza of its decision regarding the 2023 Supervisory Review and Evaluation Process (SREP). Avanza’s Pillar 2 guidance on the leverage ratio decreased from 0.9 to 0.5%. The total leverage ratio requirement thereby amounts to 3.5%. Additionally, the risk-based Pillar 2 requirement (P2R) is increased from 3.6 to 5.71%, which increases Avanza’s total risk-based requirement from 16.1 to 18.2%.
The Swedish FSA has concluded its SREP of Avanza and decided on a Pillar 2 requirement (P2R) and Pillar 2 guidance (P2G) on Avanza’s consolidated situation consisting of Avanza Bank Holding AB, Avanza Bank AB and Avanza Fonder AB.
Avanza’s leverage ratio requirement as per June amounted to 5.4% and the total capital requirement to 28.2%, which means that Avanza has a good margin to both the leverage ratio, including P2G, and the total capital requirement including risk-based P2R. The decision means that Avanza’s capitalisation may be governed by the risk-based capital requirement.
The decision is applicable as per 29 September 2023.
For further information please contact:
Sofia Svavar, Chief Communications & IR Officer
+46 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 over 1.8 million customers with over SEK 700 billion in total savings capital. This is equivalent to close to 7 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: avanza.se/ir