Avanza Bank Holding AB

AZA

Equity

ISIN SE0012454072 / Valor 47158235

NASDAQ Nordic Exchange Stockholm, Equities (2024-12-23)

SEK 267.40-0.19%

Avanza Bank Holding AB
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About company

Avanza Bank Holding AB, headquartered in Stockholm, Sweden, is a prominent financial institution known for its comprehensive suite of online banking services and investment solutions. The company primarily caters to individual investors and savers, offering a wide range of products including savings accounts, investment funds, stock and securities trading, as well as pension solutions. Avanza distinguishes itself in the market through its user-friendly digital platform, which aims to make investing accessible to both novice and experienced investors alike. As a leading online bank in Sweden, Avanza is committed to providing innovative financial services that empower its customers to take control of their financial future. The company's focus on technology and customer service has contributed to its reputation as a reliable and forward-thinking financial partner.

Summarized from source with an LLMView SourceSector: Finance

Operating Income

In the second quarter of 2024, Avanza Bank Holding AB reported an operating income of SEK 929 million, marking an 11% increase compared to the same period in 2023. This growth was primarily driven by higher brokerage and currency-related income as well as fund commissions.

Operating Expenses

Avanza Bank Holding AB's operating expenses for Q2 2024 rose by 19% to SEK 341 million. This increase was mainly due to higher personnel costs and an administrative fine from IMY amounting to SEK 15 million. Excluding the fine, operating expenses increased by 13%.

Operating Profit

The operating profit for Avanza Bank Holding AB in the second quarter of 2024 was SEK 588 million, an 8% increase from Q2 2023. When excluding the administrative fine and customer compensations totaling SEK 30 million, the operating profit was SEK 618 million, reflecting a 13% increase.

Profit for the Period

Avanza Bank Holding AB reported a profit of SEK 506 million for Q2 2024, which is a 7% increase compared to the same quarter in the previous year. Earnings per share before dilution also saw a 7% rise, reaching SEK 3.22.

Customer Growth

By the end of the second quarter of 2024, Avanza Bank Holding AB had 1,984,500 customers, representing an 8% increase from the end of Q2 2023. The net number of new customers added during the quarter was 33,700.

Summarized from source with an LLMView Source

Key figures

16.9%1Y

-19.4%3Y

180%5Y

Performance

29.2%1Y

40.8%3Y

40.2%5Y

Volatility