Preliminary Financial Statement 2013

  • Net inflow totaled SEK 10,900 million (SEK 5,380 m), corresponding to 13 (7 %) per cent of the total savings capital at the beginning of the year
  • The number of customers increased by 12 (8 %) per cent to 316,500 (283,300 as of 31 December 2012)
  • The total savings capital increased by 31 (16 %) per cent to SEK 112,600 million (SEK 85,800 m as of 31 December 2012)
  • Operating income increased by 6 (–19 %) per cent to SEK 597 million (SEK 562 m)
  • Operating margin was 38 (36 %) per cent
  • The profit after tax increased by 21 (–45 %) per cent to SEK 193 million (SEK 160 m)
  • Earnings per share increased by 20 (–46 %) per cent to SEK 6.67 (SEK 5.58)
  • The Board proposes that a dividend of SEK 8.00 (8.00) per share be paid

Fourth Quarter

  • Net inflow totaled SEK 2,490 million (SEK 1,420 m)
  • Operating income increased by 24 percent (–17 %) to SEK 162 million (SEK 131 m)
  • The profit after tax increased by 80 percent (–45 %) to SEK 54 million (SEK 30 m)
  • Earnings per share increased by 78 percent (–46 %) to SEK 1.85 (SEK 1.04)

Comments from the Managing Director

”In December Avanza won the award for having Sweden’s most satisfied savers in the annual survey executed by Svenskt Kvalitetsindex . We have now received this award for the fourth year in a row, something which makes us particularly pleased as during 2013 we launched an entirely new banking site for our customers. This is a project which occupied a significant part of our staff during large parts of the year, and has given our customers many new things to become familiar with. During December, we also received Privata Affärer’s prize for the “Year’s Innovation within Banking/Finance” for our Mortgage Loan, which we launched during the final quarter.

Our activities in the occupational pension market, the new banking site, more modern IT systems and changes in our client communication, in combination with a positive stock exchange development, resulted in a historical year from a growth perspective. During the fourth quarter, we succeeded in further increasing the pace of our expansion and we welcomed 33,000 new customers, an increase of 64 percent from 2012 and well in excess of our long-term goal of 20,000-30,000 new customers per year. On the back of this robust customer growth we could, with a net inflow of SEK 10.9 billion, report the strongest net inflow in the company’s history, more than double the inflow in 2012. Consequently, during 2013 we surpassed our long-term goal of capturing at least 5 percent of the net inflow into the Swedish savings market and we increased our total market share from 1.8 to 2.1 percent of the Swedish savings market. We also increased our market share of trading on the Stockholm Stock Exchange and in 2013 we became the largest Swedish bank on the Stockholm Stock Exchange in terms of total number of transactions.

With an increase in savings capital of 31 percent and a nearly unchanged cost level, operating income increased by 12 percent. A low interest rate level during the entire year, in combination with weak trading activities during the first six months, negatively impacted income in spite of a strong underlying growth in the number of customers and in savings capital. During the second half of the year, operating income turned upwards as customer activity increased on the stock exchange and operating expenses decreased to a normal level after the completion of the IT project. This trend has continued in the new year and even if it appears that the low interest rates will continue, the premises for continued profit growth look good for 2014.

During the coming year we will focus the development of the operations on three primary areas: the further advancement of our position within occupational pensions, the continued broadening and development of our offering, and continued cost control.

In conclusion, I wish to extend a big “thank you” to all of the fantastic personnel who successively steered the new site project into the harbour, and also to all of the shareholders and customers who have had patience in conjunction with this project. With the new site now in place, we have the premises to ensure that Avanza can continue to be a leading player in the Swedish savings market and can generate growth through new innovations and an improved customer experience. All of this will hopefully lead to Avanza being chosen as the bank with Sweden’s most satisfied customers again next year.”

Stockholm, 16 January 2014

Martin Tivéus, Managing Director Avanza Bank

The information contained in this report comprises information that Avanza Bank Holding AB (publ.) is obliged to provide as well as that which it has chosen to provide in accordance with the provisions of the Swedish Securities Market Act and the Swedish Financial Instruments Trading Act. The information has been released to the market for publication at 08.15 (CET) on 16 January 2014.

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 additional information:

Martin Tivéus, Managing Director of Avanza Bank, tel: +46(0)70 861 80 04

Birgitta Hagenfeldt, CFO of Avanza Bank, tel: +46(0)73 661 80 04

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About Us

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 900,000 customers with over SEK 300 billion in total savings capital. This is equivalent to 4.2 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 nine years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: investors.avanza.se/en