Avanza falls on cost concerns for Denmark expansion plan

Avanza Bank Holding AB

21/04/2026 11:23

** Avanza AVANZ.ST shares fall around 5% after the Swedish financial services company announced an expansion plan into Denmark

     ** SEB analyst Andreas Håkansson says the expansion will drive up costs and is not expected to be profitable for around five years

     ** Peer Nordnet SAVE.ST, which is already present in Denmark, is down around 2.4%

     ** Compared to Nordnet's initial guidance on its four year expansion into Germany, Avanza's guidance has higher run rate costs and longer break-even time, SB1 Markets analyst Phillip Moe Mølmen says

** J.P. Morgan expected an initial negative share price reaction also because of Q1 results that were broadly in line with consensus and the strong share price YTD

** Avanza is on track for its worst day since February 11 if the losses hold through the day

(Reporting by Alexander Klyve Gudbrandsen)

((alexanderklyve.gudbrandsen@thomsonreuters.com))