Interim report January – September 2013

  · Net inflow totaled SEK 8,410 million (SEK 3,960 m), corresponding to 10 (5
%) per cent of the total savings capital at the beginning of the year
  · The number of accounts increased by 11 (10 %) per cent to 524,000 (471,600
as of 31 December 2012)
  · The total savings capital increased by 22 (11 %) per cent to SEK 105,000
million (SEK 85,800 m as of 31 December 2012)
  · Operating income increased by 1 (–20 %) per cent to SEK 435 million (SEK 430
m)
  · Operating margin was 37 (38 %) per cent
  · The profit after tax increased by 7 (–45 %) per cent to SEK 139 million (SEK
130 m)
  · Earnings per share increased by 6 (–46 %) per cent to SEK 4,82 (SEK 4.54)

Third Quarter

  · Operating income increased by 18 percent (–31 %) to SEK 148 million (SEK 125
m)
  · The profit after tax increased by 94 percent (–64 %) to SEK 62 million (SEK
32 m)
  · Earnings per share increased by 94 percent (–64 %) to SEK 2,15 (1.11)
Comments from the Managing Director

Growing customer base and strong net inflow

”We experience the strong growth in savings capital of 22 percent since the
beginning of the year as something which is especially positive, not the least
as there is a long term relationship between growth in savings capital and
growth in operating income. We have continued to strengthen our communication to
existing customers regarding new savings forms and investment alternatives,
which has resulted in increased deposits and a broader involvement with our
existing customers. This is a major contributing factor to the increase in net
inflow, in combination with a continued solid growth in new customers.

The inflow of 8,600 new customers during the third quarter is twice as large
compared with the same period last year. In 2013, we have expanded with 23,600
new customers, and with a strong end to the year we have a good possibility to
exceed our long-term goal of growing by 20,000–30,000 customers per year. We see
the results of this strong customer inflow, as well as increased deposits from
existing customers, in the net inflow, which has increased by 112 percent
compared with the same period last year.

Increased customer activity and good cost control behind the improved results

During the third quarter, profit before taxes grew by MSEK 73, compared with
MSEK 55 in the same period last year (excluding items affecting comparability),
or an increase of 33 percent. This implies that during the third quarter, we
rebounded from the dip in earnings during the first half of the year, primarily
due to increased customer activity, in combination with a growing customer base
and strong cost control.

If 2012 was a wait-and-watch year in terms of savings behaviour due to the
continued uncertainty in Europe, China and the US, with more secure investments
in fixed interest funds, exchange-traded credit-linked notes and saving
accounts, 2013 has proven to show an increased risk appetite amongst savers.
This is seen, not the least, in a notable move towards mutual funds since the
beginning of the year. The total inflow in funds has been four times as high
this quarter as in the same period last year. Trading in shares has also
increased gradually during the third quarter, which is a sign that the savers
dare to believe, once again, in the stock exchange; a stock exchange which has
shown a positive development during the last year, in spite of macro political
worries. But, still, there remain a number of uncertainties. The market is still
vulnerable to negative news and can swing again. Many questions continue to be
unanswered: Will the US succeed in agreeing on an increase in the debt ceiling
and how will Europe solve its growth problems with continued turbulence in,
amongst other economies, Italy and Greece. We have, already in the beginning of
October, seen, again, some degree of movement from stocks towards fixed income,
at the same time, the trading activity on the stock exchange has declined a bit
compared with September.

After launching the new site and underlying systems at the end of the second
quarter, we can already see positive effects on the cost side. Costs during the
third quarter should, however, be seen in light of the necessary breathing space
we experienced during the summer, during which we consumed fewer resources than
normal in the follow-up to the site launch. We are now up to full speed again
and expect to maintain cost level during the second half of the year, more or
less, unchanged compared with the previous year. With our new site in place, we
will now focus our energy on creating Sweden’s best consumer site for savings
and investments. Our savers can look forward to a number of new products already
within the next two quarters.

We look forward to an exciting end to the year!”

Stockholm, 16 October 2013

Martin Tivéus, Managing Director Avanza Bank

The information contained in this report comprises information that Avanza Bank
Holding AB (publ.) is obliged to provide as well as that which it has chosen to
provide in accordance with the provisions of the Swedish Securities Market Act
and the Swedish Financial Instruments Trading Act. The information has been
released to the market for publication at 08.15 (CET) on 16 October 2013.
For additional information:

Martin Tivéus, Managing Director of Avanza Bank, tel: +46(0)70 861 80 04

Birgitta Hagenfeldt, CFO of Avanza Bank, tel: +46(0)73 661 80 04