Avanza tops STOXX on strong momentum in customer acquisition

Avanza Bank Holding AB

04/04/2024 08:59

** Shares in Sweden's Avanza  AVANZ.ST  rise around 5% to
nearly 1-year high after the financial services provider posted
its March figures
    ** It reported 16,900 net new customers in March, resulting
in 1,950,800 customers at the end of the month
    ** J.P.Morgan analyst Enrico Bolzoni notes "strong" momentum
in customer acquisition, higher deposits and brokerage activity
rising 7% month-on-month
    ** Bolzoni notes that March is a seasonally strong month for
customer acquisition
    ** Avanza reported a net inflow of SEK 7,700 million
($725.46 million) for March, compared to SEK 6,210 million in
the previous month
    ** The stock tops the pan-European STOXX index  .STOXX 
while peer Nordnet  SAVE.ST  shares are flat


($1 = 10.6139 Swedish crowns)

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))