Avanza Bank Holding AB (OTCPK:AVVZF)

$ 22.62 0 (0%) Market Cap: 3.46 Bil Enterprise Value: 2.65 Bil PE Ratio: 16.38 PB Ratio: 6.11 GF Score: 83/100

Q3 2020 Avanza Bank Holding AB Earnings Call Transcript

Oct 19, 2020 / 08:00AM GMT

Transcript

Operator

Hello, and welcome to the Avanza interim report for January to September 2020. (Operator Instructions)

Today, I am pleased to present Rikard Josefson, CEO; and Birgitta Hagenfeldt, CFO. Please go ahead with your meeting.

Rikard Josefson;publ;CEO

Avanza Bank Holding AB

()-

Okay. Good morning, everybody, and thank you for listening in. Before I start, I just hope you are well in this pandemic, a testing time for us and that you and your families are doing well.

So let's get into the presentation. Let's start off with the customers. Of course, the quarter was a new -- very strong quarter when it comes to new clients. We added almost 80,000 new clients in the quarter. And we have added 218,000 new clients for the full year of 2020. And that means that we now have surpassed 1.2 million clients on the platform.

But also to note is that we have a churn of 1.3%, which means that on average, our clients actually will be on the platform for 77 years, if you do the math on that. And we can also show that we have

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