Avanza Bank (AZA) Company presentation summary

Business model and financial performance

• Operates a capital-light, fee-based model with high scalability and low risk, primarily funded by customer deposits and equity.

• Net interest income accounted for 35% of 2025 income, with net brokerage and fund commissions at 27% and 18% respectively.

• Maintains a strong balance sheet with SEK 1,079 bn in savings capital and a CET1 ratio of 23.6% as of December 2025.

• Operating margin remained high at 68% in 2025, with ROE at 40% and profit margin at 59%.

• Credit losses have been negligible, with a low-risk loan book and all lending secured.

Customer base and market position

• Serves over 2.2 million customers, representing 8% of the Swedish savings market and 20.5% of the population.

• Holds a 21.5% share of stock market transactions and 8.5% of turnover on Nasdaq OMX and First North in Q4 2025.

• Customer base is diversified by age, experience, and investment behavior, with strong penetration among younger demographics.

• Achieved the highest customer satisfaction in Sweden for 16 consecutive years, with a churn rate of 1.3%.

Product offering and user experience

• Provides over 80,000 investment opportunities, including mutual funds, equities, savings accounts, and mortgages.

• Focuses on decision-making tools, education, and a world-class user experience, with real-time data and accessibility improvements.

• Partners with external banks for high-yield savings and mortgages, and offers exclusive exchange-traded products.

• Product teams are cross-functional, innovating and maintaining products throughout their lifecycle.