Avanza Bank Holding AB: Interim Report January-March 2026

Swedish digital bank and brokerage Avanza Bank Holding AB (publ) posted record results for the first quarter of 2026, with operating profit climbing 7% year-on-year to SEK 879 million. Net profit for the period rose to SEK 754 million, also up 7%, while earnings per share before dilution increased 5% to SEK 4.71.

Operating income grew 9% to SEK 1,257 million, driven by higher net interest income, increased brokerage commissions, and stronger currency-related revenue. Net fund commissions also rose, though other income declined. Operating expenses increased 13% to SEK 377 million, mainly due to higher personnel and other costs. The company reiterated its full-year cost growth guidance of 9% excluding international expansion.

The quarter also saw a net inflow of SEK 16.5 billion, and Avanza added 55,400 net new customers, bringing its total customer base to 2.298 million. Total savings capital stood at SEK 1,074.5 billion, with an income-to-savings-capital ratio of 0.47%.

International Expansion and Management Changes

After the quarter, Avanza announced that Denmark will be the first market in its international growth push. The expansion will be organic, with an initial investment of SEK 120–150 million before the planned launch in the second half of 2027. Approximately 20% of that investment will be capitalised, while the rest will be expensed, including SEK 50 million in 2026.

On the management side, Jonas Svärling has taken over as CFO and joined group management. Jesper Bonnivier has been appointed COO and stepped down as CEO of Avanza Fonder; a successor search is underway, with Maria Wärn serving as acting CEO in the interim.

CEO Gustaf Unger commented: "Avanza stands strong and today we are reporting record results and our best quarter ever, despite a rapidly changing world. We are now also entering the next phase of our growth journey outside Sweden, where we have decided, as a first step, to establish Avanza organically in Denmark. Our unique customer-centric culture and ability to make savings fun and inspiring have made us the market leader in Europe's most advanced savings market. This makes me convinced that we will succeed also internationally."

Additional highlights include Avanza being named Sweden's third most attractive employer among female tech students and young talents, the recruitment of Elin Wiker as the new Equity Strategist, and the award of Framtidsnyckeln's "Entrepreneur of the Year" to the firm's podcast "Inga dumma frågor om pengar" for making personal finance more accessible to young people.