US/UK/Canada

Share

Contacts

  • Lennart Erlandson

    CFO


    +46 72-402 44 82
    http://www.avida.se
  • Michael Grosche

    Head of Communication and Investor Relations


    + 46 70 307 29 36
    http://www.avida.se
    • Pick a time period -
    Tags ( Active)

    Avida Finans AB (publ) granted banking license and becomes Avida Bank AB (publ)

    Avida Finans AB (publ) has received authorisation from the Swedish Financial Supervisory Authority (Finansinspektionen) to conduct banking business. In connection with the authorisation, the company will change its name to Avida Bank AB (publ).The banking license marks a key milestone in Avida’s long-term strategy and provides a broader platform for continued growth, innovation and development in the Nordic financial market. “We are very pleased to have received approval from Finansinspektionen,” says Mikael Johansson, CEO of Avida. “This is a clear validation of Avida’s successful

    Avida Finans AB publishes Interim report for the period January–March 2026.

    Consistent progress on a stronger foundation.The first quarter of the year confirms that Avida continues the strong path established during the second half of 2025. “We delivered our third consecutive quarter with positive results, reporting a positive result of SEK 52 million”, says Mikael Johansson, CEO. “The turnaround confirms the strength of our transformation plan and the disciplined execution. During the quarter, we have continued to deliver on our transformation agenda, with further improvements to our organization, processes, and IT systems, while at the same time continuing to

    Avida’s Year-End report 2025.

    Avida Finans AB publishes Year-End report for the period January–December 2025. Building a profitable Avida – a year of transformation and execution.The fourth quarter of 2025 concludes a year when Avida has continued to deliver accor­ding to the transformation plan. Built around three main priorities - achieving financial break-even, com­pleting the migration of the acquired portfolio from San­tander, and building a solid platform for the future. All these objectives have been accomplished. “During the fourth quarter, we maintained focus on cost control, stabilized business volumes,

    Avida Finans AB publishes Interim report for the period January–September 2025.

    Delivering on the strategic plan.A year ago, Avida launched a comprehensive transformation plan built around three key priorities: achieving financial break-even, completing the migration of the acquired portfolio from Santander, and establishing a solid platform for future growth. Twelve months later, Avida is delivering according to plan and has gone from quarterly losses of more than SEK 100 million to a profit of approximately SEK 6 million. “Through cost reductions, operational improvements, and the successful migration of the acquired card and retail financing business from

    Avida Finans AB publishes Interim report for the period January–June 2025.

    Key Steps Toward an Efficient and Profitable Business, but Hard Work Remains.The transformation of Avida into an efficient, modern and profitable company continued during the second quarter of the year with a focus on cost savings and a strengthened balance sheet. “The cost savings program with the goal of reducing costs by 200 million SEK is proceeding according to plan,” says Mikael Johansson, CEO of Avida. “As part of the savings plans, we carried out an efficiency improvement of the organization, as we completed workforce reductions of approximately 30% during the first half of the

    Avida Finans AB (publ) completes SEK 2.8 billion securitisation, creating conditions for continued growth.

    Avida has finalised a Significant Risk Transfer (SRT) through a synthetic securitisation of a SEK 2.8 billion consumer loan portfolio. The transaction delivers substantial capital relief, strengthens the Company’s balance sheet, and supports continued growth.Under the agreement, investors assume a pre-determined share of potential credit losses in the portfolio, providing robust loss protection and increased financial flexibility. “This is an important step for Avida and a strategy we believe will give us long-term strength in the market,” said Lennart Erlandson, CFO at Avida. “We view

    Avida Finans AB publishes Interim report for the period January–March 2025.

    Transforming operations to build efficiency and scalabilityAvida’s transformation, which began in 2024, continued with full focus during the first quarter of 2025. The goal is to create a scalable and cost-efficient operation. "We are in a necessary phase of transformation. It’s about creating a more efficient organization while building for the future. Through structural changes and investments in technology, we are now laying the foundation for long-term competitiveness and profitability," says Mikael Johansson, CEO of Avida. Since the beginning of the year, integration has been

    Avida’s year-end report 2024

    Avida Finans AB publishes year-end report for the period January–December 2024.A transformative Quarter Concluded the Year Avida’s fourth quarter was marked by substantial change and transformation. It was also characterized by the successful completion of the acquisition of Santander Consumer Bank’s credit card and sales finance operations in Sweden and Norway. Through this acquisition, Avida has added approximately SEK 3.6 billion in loan volume and has now a platform that creates opportunities for future growth. The portfolio includes only performing assets. Priority going forward

    Avida is implementing cost-savings program corresponding to 200 MSEK and initiating negotiations concerning staff reduction by approximately 30 percent.

    Avida aims to turn its loss into profit, and to succeed compared to its competitors, the company needs to review its costs and create a modern, efficient organization better adapted to its current operations."Our costs are too high, and our organization is too large given the current size of our business," says Mikael Johansson, CEO of Avida. "Additionally, we have been burdened by credit losses that have remained at an unsustainably high level for too long. We must take action to reverse our financial performance from loss to profit. We are therefore initiating a cost-savings program

    Avida Finans AB (publ) has completed the planned acquisition of Santander’s credit card and sales financing business.

    Avida Finans AB (publ) (Avida), has after all conditions in the agreement entered on September 18, 2024, including financing and regulatory approvals, have been fulfilled for the acquisition of Santander Consumer Bank AS's Swedish and Norwegian credit card operations, as well as the sales financing business that Santander Consumer Bank has conducted together with Elkjøp in Norway and Elgiganten in Sweden, has now been completed. The acquisition has been financed through a capital injection from Avida's owners and the incurrence of debt.From January 1, 2025, the acquired business that

    Notice convening the Extraordinary General Meeting of Avida Finans AB (publ), reg. no. 556230-9004 (the "Company")

    Day and time: Monday, 30 December 2024, at 10:00 CET. Place: Avida Finans AB (publ)'s office, Magnus Ladulåsgatan 65, 118 28 Stockholm, Sweden.NOTIFICATION ETC. Shareholders who wish to participate in the Extraordinary General Meeting need to i) be listed as a shareholder in the share register maintained by Euroclear Sweden AB no later than on the record date which is Tuesday 17 December 2024, and ii) give notice of participation to the Company no later than on Monday 23 December 2024 in writing to: Avida Finans AB (publ) Box 38101, 100 64 Stockholm, Sweden (mark the envelope "

    Notice convening the Extraordinary General Meeting of Avida Finans AB (publ), reg. no. 556230-9004 (the "Company")

    Day and time: Monday, 16 December 2024, at 10:00 CET. Place: Avida Finans AB (publ)'s office, Magnus Ladulåsgatan 65, 118 28 Stockholm, Sweden.NOTIFICATION ETC. Shareholders who wish to participate in the Extraordinary General Meeting need to i) be listed as a shareholder in the share register maintained by Euroclear Sweden AB no later than on the record date which is Friday, 6 December 2024, and ii) give notice of participation to the Company no later than on Tuesday, 10 December 2024 in writing to: Avida Finans AB (publ) Box 38101, 100 64 Stockholm, Sweden (mark the envelope "

    Notice convening the Extraordinary General Meeting of Avida Finans AB (publ), reg. no. 556230-9004 (the "Company")

    Day and time: Monday, 16 December 2024, at 10:00 CET. Place: Avida Finans AB (publ)'s office, Magnus Ladulåsgatan 65, 118 28 Stockholm, Sweden.NOTIFICATION ETC. Shareholders who wish to participate in the Extraordinary General Meeting need to i) be listed as a shareholder in the share register maintained by Euroclear Sweden AB no later than on the record date which is Friday, 6 December 2024, and ii) give notice of participation to the Company no later than on Tuesday, 10 December 2024 in writing to: Avida Finans AB (publ) Box 38101, 100 64 Stockholm, Sweden (mark the envelope "

    Avida Finans AB intends to carry out a capital raise of SEK 865,758,270 through directed issues of warrants, and proposes the introduction of a low voting share class

    The board of directors of Avida Finans AB (publ) ("Avida" or the "Company") has resolved to propose that an extraordinary general meeting (the "First EGM"), to be held on or around 16 December 2024, resolves to approve an issuance of 57,717,218  warrants to subscribe for 57,717,218 new shares at a strike price of approx. SEK 0.18 per share (the "Warrants" and the "Warrants Issue", respectively). Eckern Finans Holding AB[1] and FSK Eckern Finans Holding AB[2] shall subscribe for 53,717,218 Warrants in total and pay an aggregate amount of SEK 805,758,270 for the Warrants, whereas Andenes

    Avida Finans AB (publ) publishes interim report for the period January – September 2024

    Great need to reverse the trend and increase the pace of the initiated transformation.In the third quarter of the year, the negative trend for Avida continued, with costs and credit losses remaining at an unacceptably high level. The need to accelerate the pace of change and reverse the company’s cost and credit loss trends has become increasingly clear.  “To reduce costs and ensure quality and speed in the initiated transformation, a comprehensive review of the business has now begun”, says Mikael Johansson, CEO. The goal is to achieve more efficient processes, foster a stronger cost-

    Mikael Johansson appointed as permanent CEO in Avida Finans AB (publ)

    The Board of directors in Avida Finans AB (publ) (”Avida” or the “Company”) has resolved that Mikael Johansson is appointed as permanent CEO in the Company from and including October 31, 2024.Mikael Johansson took on the role of Interim CEO for the Company on September 30, 2024, and has now been appointed as permanent CEO. Mikael has held several executive positions within banking, finance, payments, ecommerce and fintech industry. He most recently held the position of Managing Director at Avarda and prior to that as Managing Director for Santander Consumer Bank. On September 18, Avida

    Change of CEO in Avida Finans AB (publ)

    The Board of directors in Avida Finans AB (publ) (”Avida” or the “Company”) has resolved that Mikael Johansson shall take on the position as interim CEO in the Company from and including September 30, 2024.Before joining Avida, Mikael Johansson has held several executive positions within banking, finance, payments, ecommerce and fintech industry. He most recently held the position of Managing Director at Avarda and prior to that as Managing Director for Santander Consumer Bank. Current CEO, Tine Wollebekk, will step down as CEO with effect from September 30, 2024. The decision follows

    Avida Finans acquires Santander’s Credit Card and Sales Financing Business

    Avida Finans AB (publ) (Avida), a specialist in consumer and SME financing, has today entered into an agreement to acquire the performing Swedish and Norwegian credit card business of Santander Consumer Bank AS, as well as the sales financing business that Santander Consumer Bank currently operates in partnership with Elkjøp in Norway and Elgiganten in Sweden. The acquisition increases Avida’s reach and creates new opportunities, particularly in credit cards and sales financing.The acquired business includes approximately 450 000 private customers with a total outstanding performing loan

    Avida Finans AB (publ) publishes bond prospectus and applies for admission to trading of bonds on Nasdaq Stockholm

    Stockholm, 13 August 2024 at 11.30 CEST Avida Finans AB (publ) (the "Company") issued on 8 July 2024 perpetual additional tier 1 bonds in an amount of SEK 200,000,000. The bonds carry a floating interest rate of STIBOR 3m + 13 per cent. per annum. The Company will apply for admission to trading of the bonds on the Corporate Bond list at Nasdaq Stockholm. The bonds will be admitted to trading at Nasdaq Stockholm as soon as possible. In connection with this, the Company has prepared a prospectus. The prospectus has been approved by, and registered with, the Swedish Financial

    There are no items matching the current filter
    There are no more items matching the current filter
    Back to top

    Subscribe