Avanza Bank (AZA) investor relations material

Strategic positioning and customer focus

• Holds 8.4% market share of the Swedish savings market with SEK 1,190 billion in savings capital as of May 2026.

• No. 1 in customer satisfaction for 16 consecutive years, with a diversified customer base exceeding 2.3 million.

• Broad product suite includes mutual funds, equities, savings accounts, mortgages, and margin lending.

• Focuses on decision-making tools, education, and a world-class user experience rather than direct financial advice.

• High daily active user engagement and extremely low churn rate of 0.9%.

Business model and financial performance

• Operates a capital-light, fee-based model with high scalability and low risk.

• Income split in 2026: 33% net interest, 28% brokerage, 17% fund commissions, 16% currency-related, 6% other.

• Maintains a high operating margin (64% in Q1 2026) and ROE of 40%.

• Cost structure is mainly personnel (59%), with a philosophy to expense technology investments directly.

• No realized credit losses for over a decade; all lending is secured and funded by widespread customer deposits.

Growth drivers and market potential

• Significant growth potential in both existing and new customers, especially among younger demographics.

• Market penetration at 20.5% of the Swedish population, with highest rates in urban areas and among ages 20–39.

• Average savings capital increases with customer tenure and age.

• Fast-growing pension business and expanding mortgage offering through external partners.

• Well-positioned to benefit from digitalization, regulatory changes, and generational wealth transfer.