Avanza Bank Holding Ab · OMXSTO:AZA
Avanza Bank Holding Ab — Q4 2025 Earnings Presentation
18 slides from Avanza Bank Holding Ab's earnings presentation, Jan 21, 2026
Slide 1: Avanza's full-year and fourth quarter 2025 Results presentation
Avanza's full- —_— yearandfourth =~ —- quarter 2025 oS Results presentation avanzauill
Slide 2: Key highlights from the fourth quarter
Key highlights from the fourth quarter Sweden’s most satisfied All-time high full-year savings customers for 16 operating profit consecutive years at SEK 3,078 million Many appreciated launches – Was named one of Sweden’s a few examples: flexible most attractive employers by brokerage fee-classes, b
Slide 3: Optimistic about 2026
Optimistic about 2026 400 000 Customer acquisition 350 000 300 000 • 2025 turned out different than many had 250 000 expected – with geopolitical turmoil slowing 200 000 171,000 down the economic recovery in Sweden 150 000 • Market statistics indicate that that a large 100 000 50 000 share of saving
Slide 4: Sustained high customer activity all year
Sustained high customer activity all year Increased trading in foreign securities Increased volatility fuelled trading activity 350 000 25,0 100 000 came to stay 35% 90 000 300 000 30% 20,0 80 000 250 000 70 000 25% 15,0 60 000 200 000 20% 50 000 150 000 10,0 15% 40 000 100 000 30 000 10% 5,0 20 000
Slide 5: Strong performance on 2025 targets
Strong performance on 2025 targets Customer satisfaction Employee engagement Value growth Sustainability ✓ Sweden’s most satisfied ✓ Employee Net Promoter Score ✓ Annual ROE of 40% – target is ✓ Sustainability score of savings customers according of 57 – target is 50 at least 35% customers investmen
Slide 6: Savings capital growth of 13% in 2025
Savings capital growth of 13% in 2025 1 200 Total savings capital • Long-term target is average annual savings capital 1,079 growth of 15% 1 000 • Net inflow negatively affected by the closing of external savings accounts 800 • Volume in these accounts decreased by SEK 26.4 bn during 2025 SEK bn • O
Slide 7: Focused on accelerating growth
Focused on accelerating growth – the implementation of our strategy is proceeding at high speed A. Develop and grow the leading position in our core Long-term 2030 targets business – savings and investments in Sweden Sweden’s most satisfied savers according to the Swedish Quality Index B. Achieve ma
Slide 8: Financials – Full-year and Q4 results
Financials – Full-year and Q4 results
Slide 9: Brief introduction to Jonas, new CFO
Brief introduction to Jonas, new CFO Previous roles include: • 2025–2025 CFO and COO, SEB Business and Retail Banking Division • 2020–2025 Co-Head Retail Banking Sweden, SEB Business & Retail Banking Division • 2018–2020 CFO, SEB Business & Retail Banking Division • 2015–2018 CFO and Head of Finance
Slide 10: Strongest annual result in Avanza's history
Strongest annual result in Avanza’s history Q4 25 Q3 25 ∆% 2025 2024 ∆% Operating income, SEK m 1,139 1,142 0 4,495 3,900 15 Operating expenses, SEK m -402 -324 24 -1,413 -1,280 10 Operating profit, SEK m 733 818 -10 3,078 2,621 17 Adjusted operating profit, SEK m¹) 733 818 -10 3,078 2,675 15 Profit
Slide 11: A healthy income mix
A healthy income mix Quarterly income in line with previous record levels All-time high annual revenue 1 200 4,495 1,152 4 000 3,900 1,142 1,139 3,301 3,437 1 100 1,062 1,062 3 500 Revenue, SEK m 2,973 3 000 1 000 951 929 959 2 500 900 882 2 000 847 868 833 854 1 500 800 768 740 1 000 Revenue, SEK m
Slide 12: Volume growth more than compensated for lower market rates
Volume growth more than compensated for lower market rates 431 409 398 388 Average interest rates 404 385 Q3 25 Q4 25 402 -1 406 372 398 16 Internally financed Internally financed 390 lending: 3.01% lending: 2.81% Deposits: 0.80% Deposits: 0.76% 349 480 485 471 439 428 402 410 360 398 413 356 279 Vo
Slide 13: Full-year costs slightly below guidance
Full-year costs slightly below guidance Annual cost increase of 10.4% 2025 402 1 600 400 1,413 Operating expenses, SEK m 1 400 1,280 1,148 1 200 1,031 353 350 341 335 1 000 874 333 Operating expenses, SEK m 324 800 306 303 300 600 300 289 287 400 273 266 200 250 0 2021 2022 2023 2024 2025 Total expe
Slide 14: 2026 cost increase estimated at 9%
2026 cost increase estimated at 9% • Driven by investments in future growth • No cost growth connected to growing number of customers or savings capital • Long-term target is an average annual cost growth of 8% 2025-2030, with cost growth being higher at the beginning of the period, reaching 5% by 2
Slide 15: Strong capital position after proposed dividend
Strong capital position also after proposed dividend of SEK 12.75 per share 31 December 2025 31 December 2024 Consolidated situation % SEK m % SEK m Total capital ratio / Own funds 28.0 5,079 23.0 3,941 Total capital requirement1) 17.5 3,174 18.2 3,114 Capital surplus 10.5 1,905 4.8 827 Leverage rat
Slide 16: Solid capital position
Solid capital position Leverage ratio, SEK m CET1 capital SEK m Total capital, SEK m 6 000 4 500 6 000 4 000 5 000 5 000 3 500 3,952 4 000 3 000 4 000 565 Capital conservation Capital conservation 2 500 3,174 2,142 Countercyclical buffer Countercyclical buffer 3 000 P2G 4,279 3 000 453 5,079 2 000 P
Slide 17: Well positioned for the future
Well positioned for the future • Record result – the strength of our business model with several income streams once again demonstrated • Working at full speed with our prioritised areas • Further fiscal policy reliefs and lower interest rate environment makes the outlook bright for the Swedish econ
Slide 18: Opening up for questions
neEceetl Opening up for questions