Avanza Bank (AZA) Q2 2026 earnings summary

Executive summary

• Achieved record operating profit of SEK 928 million in Q2 2026, up 31% year-over-year and 9% sequentially, with profit for the period at SEK 795 million.

• Operating income reached SEK 1,334 million in Q2 2026, up 26% year-over-year, driven by higher net interest, brokerage, and fund commissions.

• Welcomed over 40,000 new customers in Q2 and nearly 100,000 in H1 2026, with savings capital surpassing SEK 1,208 billion.

• Highest ever net inflow to funds in a single quarter at SEK 17 billion, reflecting strong customer engagement.

• Recognized as one of Sweden's most reputable companies and the most reputable bank.

Financial highlights

• EPS for Q2 2026 was SEK 4.97, a 30% increase year-over-year.

• Net interest income hit a new all-time high, supported by higher average deposit and lending volumes.

• Operating margin stable at 70%; return on equity at 43% (up from 37% a year earlier).

• Fund capital increased 19% in the quarter, with record net inflows and all-time high fund commission income.

• Operating expenses increased 15% year-over-year to SEK 406 million, mainly due to higher personnel and IT costs.

Outlook and guidance

• Swedish economy showing signs of recovery, supporting future savings growth.

• Full-year 2026 cost increase guidance for Swedish business remains at 9%, with SEK 50 million in costs expected for Denmark expansion.

• Targeting 15% annual average growth in Swedish savings capital, aiming for over SEK 2,000 billion by 2030.

• NII development will depend on market rates and customer risk appetite.

• Ongoing preparations for Danish market expansion, with launch planned for H2 2027.