Avanza Bank (AZA) Investor presentation summary

Business overview

• Holds a leading position in the Swedish savings and investments market with 2.28 million customers and SEK 1,124 billion in savings capital as of February 2026.

• Market share of 8.3% in Swedish savings and 21.5% in stock market transactions on Nasdaq OMX and First North in Q4 2025.

• High customer satisfaction, winning the Swedish Quality Index for 16 consecutive years, and a low churn rate of 1.3%.

• Business model is capital-light, highly scalable, and primarily self-financed through equity and customer deposits.

• Offers a broad product suite including equity trading, mutual funds, retirement plans, savings accounts, mortgages, and margin lending.

Financial performance and growth

• Operating income grew 15% to SEK 4,495 million in 2025, with operating profit up 17% to SEK 3,078 million.

• Return on equity reached 40% in 2025, with a profit margin of 59%.

• Cost growth was 10.4% in 2025, with a long-term target of 8% annual cost increase through 2030.

• Maintains stable profitability and high operating margins, with a diversified income stream from net interest, brokerage, and fund commissions.

• Strategic priorities include 15% annual savings capital growth, ROE of at least 35%, and a dividend policy of 70% of net profit.

Capital, liquidity, and asset quality

• CET1 ratio at 22.3% and leverage ratio at 4.4% as of December 2025, with a solid capital surplus and deposit inflow capacity.

• No realized credit losses for over 10 years; all lending is collateralized, with mortgage and margin lending showing low loan-to-value ratios.

• Liquidity portfolio is conservative, invested in AAA/AA+ rated covered and municipal bonds, and all securities are eligible as collateral with the Riksbank.

• NSFR and LCR ratios are robust, and lending to deposit ratio remains stable.

• Balance sheet primarily self-financed, with SEK 101 billion in deposits and SEK 27.5 billion in on-balance sheet lending.