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Investing.com -- Avanza Bank Holding AB (ST:AVANZ) saw its operating income rise 14% year-on-year to SEK 1,062 million during the second quarter, driven by higher net brokerage income, currency-related income, and other revenue streams.
Net fund commissions and net interest income also increased during the period.
Still, the company’s shares dipped 5% in Stockholm trading after the print.
Operating profit rose 21% to SEK 709 million, while net profit climbed 18% to SEK 600 million. Earnings per share before dilution were SEK 3.81, also up 18%.
Costs increased by 4% to SEK 353 million, mainly due to higher personnel and other expenses, in line with the company’s full-year estimate of an 11% rise.
During the quarter, Avanza issued SEK 800 million in AT1 capital and appointed Jonas Svärling as CFO. The bank was again recognized as Sweden’s most highly regarded bank in Verian’s annual reputation index and advanced in Universum’s employer rankings.
“We are leaving a very special quarter behind us affected by tariffs and geopolitical conflicts," said CEO Gustaf Unger. “We report a solid result in a turbulent environment and are again proving that Avanza can perform in various market conditions."
"The need for long-term savings remains," he added.