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

Q2 2022 Avanza Bank Holding AB Earnings Call Transcript

Jul 14, 2022 / 09:00AM GMT

Transcript

Operator

Welcome to the Avanza Bank Holding Interim Report January through July 2022. (Operator Instructions) Today, I am pleased to present Rikard Josefson, CEO; and Anna Casselblad, CFO. Please begin your meeting.

Rikard Josefson;publ;CEO;MD

Avanza Bank Holding AB

()-&

Okay. Well, welcome everybody who is listening in. I will start with a business update, as usual, highlighting the quarter and what's happened during the quarter. But let me start with saying that there has been a total change of scenery comparing the first half year end '22 compared to 2020 and 2021, which were years when we doubled the size of the company. It has been very challenging for our customers who have seen their assets falling down a lot in value. And of course, that also affects Avanza as a company.

But I think you have to bear in mind that we have seen the worst market since the 1930s. It was 90 years ago, a 6-month period was this bad when it comes to asset prices. In combination with inflation, that's the highest in 30 years.

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