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Avanza Bank (AZA) investor relations material
Avanza Bank Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary17 Oct, 2025
Executive summary
Operating profit reached SEK 818 million in Q3 2025, matching record levels, driven by strong trading, net brokerage, and interest-related income streams.
Operating income rose 19% year-over-year to SEK 1,142 million, with revenue up 20% and EPS at SEK 4.37.
Customer base expanded by 41,000 in the quarter to 2,204,000, and savings capital increased 14% to SEK 1,054 billion.
Strategic initiatives included the acquisition of Sigma Stocks, collaboration with LifePlan for pension advisory, and new digital features for stock market enthusiasts.
New digital features, broadened pension offerings, and AI initiatives enhanced growth opportunities.
Financial highlights
Q3 2025 operating income was SEK 1,142 million, up 8% sequentially and 18% year-over-year for the nine-month period.
Operating profit for Q3 2025 was SEK 818 million, up 15% from Q2 2025 and 24% year-over-year for the nine-month period.
Net brokerage income rose 35% year-over-year, net currency-related income up 66%, and net fund commissions up 7%.
FX income rose 34% compared to Q2, driven by renewed interest in foreign trading.
Operating margin improved to 72% in Q3 2025, up from 67% in Q2 2025; return on equity reached 45%.
Outlook and guidance
Cost guidance for 2025 remains at an 11% increase, with investments focused on pensions, Private Banking, and cloud migration.
No expected cost overhang into 2026; long-term cost growth target is a maximum of 8% per year by 2030.
Management anticipates brighter prospects for the Swedish economy, with positive outlook for savings acceleration and higher real wages.
The company targets average annual savings capital growth of 15% in Sweden through 2030 and a return on equity of at least 35% annually.
Dividend payout target is 70% of profit, subject to capital requirements.
Sigmastocks integration: Private Banking leadership?
Interest deduction law: Margin lending impact?
Closing external savings accounts: deposit migration?
Will Q4 cost composition change going forward?
Why are net inflows lagging peers?
Cloud migration: what are the cost implications?
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Next Avanza Bank earnings date
Q4 202521 Jan, 2026
Next Avanza Bank earnings date
Q4 202521 Jan, 2026
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Frequently asked questions
Making investing accessible
Avanza is a Swedish online broker that offers a wide range of investment and savings products, including stocks, mutual funds, pension savings, and savings accounts.
The company was founded in 1999 with the mission of democratizing investments and making it easy and accessible for everyone to invest their money.
An easy to use platform
Avanza operates as an online brokerage platform, allowing customers to invest in a variety of financial products at a low cost. The company has a user-friendly platform with tools and resources that make it easy for customers to manage their investments and make informed decisions.
Avanza also offers educational resources such as webinars and articles, to help customers improve their financial literacy and make better investment decisions.
An award-winning company
Avanza is one of the leading players in the digital financial services industry in Sweden, with almost two million customers. The company has received numerous awards and recognition for its innovative platform and customer service, including being named Sweden's best online broker by several publications.
An interesting fact about Avanza is that the company is a pioneer in the sustainable investment space. In 2017, Avanza launched a sustainability rating system for its investment products, which evaluates companies based on their environmental, social, and governance (ESG) performance.
Avanza has also been vocal about the importance of sustainability and responsible investing, advocating for greater transparency and disclosure in the financial industry.
Other Nordic banks with a focus on investment and savings products are Nordnet, Nordea (Nordea Investor), and Swedbank.
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