AVANZA BANK PRELIMINARY FINANCIAL STATEMENT 2008

AVANZA BANK PRELIMINARY FINANCIAL STATEMENT 2008

-  Operating income decreased by 9 per cent (+22%) to SEK 509 million (SEK 557
m)

-  The profit after tax decreased by 21 per cent (+24%) to SEK 185 million (SEK
233 m)

-  Earnings per share decreased by 20 per cent (+24%) to SEK 6.78 (8.51)

-  Net savings increased to SEK 6,760 million (SEK 5,000 m), corresponding to 15
per cent (12%) of savings capital at the beginning of the year

-  The number of accounts increased by 37 per cent (27%) to 226,000 (165,000 as
of 31st December 2007), and the total savings capital decreased by 25 per cent
(+6%) to SEK 34,600 million (SEK 45,900 m as of 31st December 2007)

-  The Board proposes that a dividend of SEK 6.00 (SEK 6.00) per share be paid


Fourth quarter

-  Operating income decreased by 18 per cent (+28%) to SEK 124 million (SEK 151
m)

-  The profit after tax decreased by 41 per cent (+22%) to SEK 39 million (SEK
66 m)

-  Earnings per share decreased by 40 per cent (+22%) to SEK 1.43 (SEK 2.40)


Preliminary Financial Statement, 2008

Comments from the Managing Director"In saying goodbye to 2008, we are putting a highly eventful year to rest.
Avanza Bank is perceived as a secure haven in the turbulent market and our
positions have consequently progressed substantially. Net savings reached the
record total of SEK 6,760 million, and the number of accounts increased by 37
per cent - which is also a record. The simplification we implemented during the
autumn, making it easier for customers to choose their savings format, has
clearly contributed to the growth in account numbers," says Nicklas Storåkers,
Managing Director of Avanza Bank."We managed to achieve or surpass all of the growth targets over which we have
control. This achievement notwithstanding, however, we did not manage to
compensate in full for the 42 per cent fall in the value of the stock market
during the year, and the final figures for the year show falls in income and
profit of 9 per cent and 21 per cent, respectively."The preconditions for achieving or even exceeding our long-term goals with
regard to net saving are good. The drastic cuts in key interest rates do,
however, mean that income and profit are expected to fall in 2009, given current
market conditions.
Reducing costs by 10-15 per cent is, therefore, an important goal for 2009.
Online saving is increasing rapidly and strong net savings and growth in the
number of customers during the past year have confirmed the viability of our
long-term goal of a growth in profit of 15-25 per cent per annum."


For additional information:
Nicklas Storåkers, Managing Director of Avanza Bank, tel: +46 (0)70 861 80 01
Birgitta Hagenfeldt, CFO of Avanza Bank, tel: +46 (0)73 661 80 04