Avanza Bank Holding AB (publ)

Good day and thank you for standing by. Welcome to the Avalancer Bank Interim Report, January to March 2025 conference call and webcast. At this time, all participants will be in a listen-only mode during the call. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, please press star one and one 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. I would now like to turn the conference over to your speaker, Gustav Unger, CEO. Please go ahead.

Good morning and welcome to Avanza's first quarter results presentation. Here in the sunny Stockholm, I have Carolina Johansson, IR manager with me, as well as Anna Kasselblad, CFO, and myself, Gustav Unger, the CEO. So if we start with the first real slide. This is the highest quarterly result in the history of Avanza. Increased volatility led to higher trading activity, in particular in March. And worth to mention, I think, is that the NII remains resilient and contributing as a healthy part of revenues despite lower market rates. We also made solid initial progress of our strategic priorities. with high-paced innovation and several appreciated launches. Our growth figures are on track for another strong year. With over 62,000 new customers, this is the strongest quarter since the pandemic. And with a net inflow of 22 billion, this is in line with Q1 last year. So to sum this up, it was a strong first quarter. We don't yet have the Swedish market data for Q1. But if we look at Q4, we took 41% of the net inflow into the market. The quarterly numbers are, as you see, quite volatile. And the rolling 12 months market share of net inflow was 20%. And that increased our back book market share to 7.8%. That's up from 7.1% a year ago. Our 2030 target is an annual savings capital growth of 15%. And savings capital development in Q1 was negatively affected by US equity markets and a stronger Swedish krona. Looking at the waterfall chart bottom left, we see that net inflow of 22 billion provided a savings capital growth of 2% compared to Q4. On the other hand, market decline, including FX effects, negatively affected savings capital by 5% or 46 billion. And this resulted in a savings capital decline of 3% to 931 billion. Speaking of FX effects, bottom right, you can see that our customers had a direct exposure to foreign security of 21% by the end of the quarter.

The quarter was driven by trading income.