Avanza Bank Holding AB (publ) (AZA) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Avanza Bank Interim Report January-June 2025 Conference Call. At this time, all participants are in the listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, Please press star one and one again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, CEO Gustav Unger. Please go ahead. Hi and welcome. By my side today, I have Anna Kasselblad, CFO, and Carolina Johansson, IR manager. Avanza had a strong first half of 2025 despite turbulent macro. Unpredictable tariff announcements and geopolitical conflicts clouded the near-term outlook and net flows in Q2. Long-term outlook for increased savings remains positive. We have in Sweden increased real wages, lower interest rates, meaning lower housing costs, And also stock markets have rebounded quickly from the early April fall. Bottom left, you see that the savings capital is up 4% in H1 and 7% in Q2. That was driven by market depreciation and net inflow. Top right, you see that customer acquisition is on track for another strong year with H1 up from last year. Bottom right, we see that net inflows in H1, on the other hand, is slightly weaker than last year, where the macro uncertainty has put many suites in a wait and see mode. I think customer activity held up well in the quarter, despite a difficult market environment with rapid changes in the sentiment. Top right, you see that the number of brokerage generating customers remained high in the quarter and bottom left yo...