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Avanza Bank
Avanza Bank (AZA) investor relations material
Avanza Bank Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary21 Jan, 2026
Executive summary
Achieved record full-year results for 2025, with operating profit at SEK 3,078 million (up 17% year-over-year) and record revenue of SEK 4,495 million, driven by strong trading and interest-related income streams.
Customer base grew by 171,000 to 2,242,700, with SEK 54 billion net inflow despite challenging markets and wind-down of external deposit products.
Maintained Sweden's most satisfied savers for the 16th consecutive year, with a net promoter score of 41 and eNPS of 57, and received multiple employer and customer satisfaction awards.
Launched new products and features, including improved brokerage fee class switching, enhancements for Private Banking clients, and a new discretionary portfolio management product.
Migrated first production service to the cloud, marking a milestone in the ongoing cloud journey.
Financial highlights
Net profit for the period was SEK 2,631 million, up 17% year-over-year; earnings per share at SEK 16.57, up 16% from 2024.
Return on equity reached 40%, meeting or exceeding the growth target of at least 35%.
Operating margin for the year was 68%; operating expenses increased 10% year-over-year to SEK 1,413 million.
All-time high revenues in 2025, with trading-related income increasing due to market volatility; fund commissions at record levels despite margin pressure.
Savings capital grew 13% to SEK 1,079 billion, despite a SEK 26.4 billion outflow from closing external savings accounts.
Outlook and guidance
Forecasts 9% cost increase in 2026, driven by investments in Private Banking, pension business, and cloud migration.
Long-term target of average annual cost growth of 8% until 2030, aiming for 5% by 2030.
Expects Swedish savings market to recover in 2026 due to lower rates and expansionary fiscal policy.
Targeting average annual savings capital growth of 15% through 2030; 2025 growth was 13%.
Dividend policy remains at 70% of profit, with flexibility for capital requirements.
Quantify external account outflow impact
2026 cost increase allocation by initiative
Update on margin lending deductibility for EI
Clarify external deposit outflow visibility
Detail Q4 loan loss provision drivers
Explain 2026 cost growth above target
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Next Avanza Bank earnings date
Q1 202621 Apr, 2026
Avanza Bank
Next Avanza Bank earnings date
Q1 202621 Apr, 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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