Avanza reports profit boost in
Photo: Henrik Montgomery/TT

Avanza reports profit boost in another record quarter

Online broker Avanza reports an operating profit of SEK 929 million for the second quarter of the year. This compares with a profit of SEK 709 million in the corresponding quarter last year.

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Revenue rose to SEK 1.3 billion, from SEK 1.0 billion.

Another record quarter, says Avanza's CEO Gustaf Unger in a comment.

"Despite continued significant geopolitical concerns, risk appetite has strengthened significantly, and we have finally received indications that the Swedish economy is picking up. We have seen a sharp increase in inflows to the fund market in Sweden and among our customers the highest net purchases of funds ever in a single quarter," he writes.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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