Avanza Bank reported a 7% rise in fourth-quarter operating income to SEK 1.14 billion, but net profit remained flat at SEK 626 million. The Swedish brokerage's gains from higher net brokerage income and currency-related revenue were entirely offset by a 20% surge in operating expenses, which reached SEK 402 million.

For the full year, the picture was stronger, with operating income up 15% to SEK 4.50 billion and profit climbing 17%. However, quarterly pressures were evident, as the operating margin contracted to 64% from 69% a year earlier. Management pointed to elevated personnel, marketing, and cloud migration costs as key drivers.

The board raised its proposed dividend to SEK 12.75 per share, signaling confidence despite quarterly headwinds. Looking ahead, Avanza expects cost growth to moderate to 9% in 2026, focusing on investments in private banking and occupational pensions. The company also reported a slowdown in net inflows, down 74% for the quarter.