Bifogade filer
Avanza Bank Holding AB (publ): Interim Report January–September 2023
Rikard Josefson, CEO
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Large Cap Stockholm |
| Sektor | Finans |
| Industri | Nischbank |
Third quarter 2023 compared to third quarter 2022
- Operating income increased by 15 per cent to SEK 854 million. Net interest income was higher, mainly due to higher market interest rates. Fund commissions also increased. Net brokerage income, net currency-related income and other income decreased as a result of lower trading activity
- Operating expenses increased by 12 per cent to SEK 266 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 588 million, an increase of 17 per cent
- Profit for the period was SEK 510 million, an increase of 18 per cent
- Earnings per share before dilution amounted to SEK 3.25, an increase of 17 per cent
Events during the quarter
- Knut Frängsmyr was appointed new CEO of Avanza and will succeed Rikard Josefson on 6 November 2023
- Farm mortgages were launched in cooperation with Landshypotek, enabling Avanza’s customers to apply digitally for mortgages for agricultural properties
- Avanza received the Karriärföretagen 2023 Employer Branding award among economists
Quote from Rikard Josefson, CEO Avanza
“Macroeconomic conditions remain challenging. Despite this, we are reporting our second strongest quarter ever. Recurring monthly savings were stable and contributed to a strong net inflow that for the nine-month period was more than twice as high as for the full-year 2022. Stock market volatility was low, which affects our trading income. We can’t do anything about market sentiment, but customers are continuing to buy securities on a net basis and Avanza’s market shares on the Stockholm Stock Exchange are rising. This makes Avanza strongly positioned once optimism returns.”
| Q3 | Q2 | Change | Q3 | Change | Jan-Sep | Jan-Sep | Change | |
| 2023 | 2023 | % | 2022 | % | 2023 | 2022 | % | |
| Operating income, SEK m | 854 | 833 | 2 | 740 | 15 | 2,555 | 2,126 | 20 |
| Operating expenses, SEK m | –266 | –287 | –8 | –238 | 12 | –842 | –758 | 11 |
| Operating profit, SEK m | 588 | 546 | 8 | 502 | 17 | 1,713 | 1,368 | 25 |
| Profit for the period, SEK m | 510 | 472 | 8 | 433 | 18 | 1,483 | 1,172 | 27 |
| Earnings per share before dilution, SEK | 3.25 | 3.02 | 8 | 2.78 | 17 | 9.47 | 7.53 | 26 |
| Operating margin, % | 69 | 66 | 3 | 68 | 1 | 67 | 64 | 3 |
| Return on shareholders' equity, % | 41 | 37 | 4 | 42 | –1 | 39 | 35 | 4 |
| Net inflow, SEK m | 21,200 | 16,100 | 32 | 6,030 | 251 | 54,300 | 31,000 | 75 |
| No. of new customers (net) | 31,300 | 24,000 | 30 | 24,100 | 30 | 96,500 | 103,900 | –7 |
| No. of customers at the end of the period | 1,873,200 | 1,841,900 | 2 | 1,764,000 | 6 | 1,873,200 | 1,764,000 | 6 |
| Savings capital at the end of the period, SEK m | 715,400 | 736,900 | –3 | 639,900 | 12 | 715,400 | 639,900 | 12 |
| Income to savings capital ratio, % | 0.47 | 0.46 | 0.01 | 0.46 | 0.01 | 0.48 | 0.40 | 0.08 |
| Costs to savings capital ratio, % | 0.15 | 0.16 | –0.01 | 0.15 | 0.00 | 0.16 | 0.14 | 0.02 |
A webcast presentation will be held by Rikard Josefson, CEO, and Anna Casselblad, CFO, on 20 October 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 avanza.se/ir. Further information and registration for participation is available at investors.avanza.se/en/ir/calendar/upcoming-events.
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
rikard.josefson@avanza.se
Anna Casselblad, CFO
+46 (0)8 409 420 11
anna.casselblad@avanza.se
Sofia Svavar, Chief Communications & IR Officer
+46 (0)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 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 nearly 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