Interim Report January-March 2015 Net inflow totalled

· Net inflow totalled SEK 10,000 million (SEK 5,520 m), corresponding to 7 (5 %) per cent of the total savings capital at the beginning of the year · The number of customers increased by 9 (5 %) per cent to 403,000 (371,200 as of 31 December 2014) · The total savings capital increased by 19 (8 %) per cent to SEK 168,200 million (SEK 141,900 m as of 31 December 2014) · Operating income increased by 30 (15 %) per cent to SEK 225 million (SEK 173 m) · Operating margin was 51 (44 %) per cent · The profit after tax increased by 52 (44 %) per cent to SEK 99 million (SEK 65 m) · Earnings per share increased by 52 (46 %) per cent to SEK 3.43 (SEK 2.26) · No significant events have occurred after the end of the reporting period Quarterly highlights · Avanza opened a new sales office for occupational pensions and Private Banking in Malmö · Avanza Forum was held at the Globe arena in Stockholm with over 6,000 visitors (+20 per cent) and a further 50,000 viewers of the web broadcast (+67 per cent) · Avanza Zero was named "The Readers' Favourite 2014" in a competition on privataaffarer.se · Avanza was voted "The People's Favourite 2014" at Bankbetyg.se · Avanza surpassed 400,000 active customers · Placera.se hit a record in number of visitors · Avanza's Fund-in-Funds surpassed SEK 1 billion in managed capital Comments from the CEO The negative interest rate creates greenhouse effect Many people review their savings before the start of a new year, which leads to increased customer growth and activity during the first months of the year. This year was no exception. At the same time we have worked hard to strengthen our services in the recent year, including a new share trading price plan, mortgage loans for Private Banking customers, doubling our sales strength within occupational pensions and hundreds of new, on-line functions. The purpose of this work is to increase our competitiveness and capacity to grow more rapidly than in the past. Low market rates have historically been a good climate for growth for Avanza, as the importance of fees becomes more apparent while interest in the stock exchange and more active investments increases. Many people are reviewing their savings due to today's historic negative interest rates, and this is to the benefit of a company like Avanza, which offers the market's widest choice within low cost savings and investments. Against a background of increased marketing efforts over the quarter and the Swedish central bank's continued reductions in the repo rate, we have achieved our strongest growth in any individual quarter, with a net inflow of 10 billion (+81 per cent) and 31,800 new active customers (+119 per cent). This means that we have already surpassed our long-term goal of 30,000-40,000 new customers per year. Given the good results we have had in customer acquisition with increased marketing activities during the beginning of the year, we intend to continue the efforts in 2015. We therefore expect a cost increase rate of 8-10 per cent for the full year, compared with the previously announced 6-8 per cent. Trading activity also significantly increased among our customers during the first quarter and the number of transactions per customer and per month was 46 per cent higher than in the equivalent period for the previous year. The operating profit increased by 51 per cent, despite pressure from interest rates The increased interest in the stock exchange is clearly visible in the trading statistics and in an increasing net brokerage commission income. At the same time, our trading volumes increased more rapidly than the market, which can be seen from our market share of trading measured in the number of transactions on the Stockholm stock exchange, which increased from 7.5 per cent to 9.5 per cent since the first quarter of 2014. Our new price plan for share trading with a minimum 1 krona brokerage fee has extended share trading to a new customer segment, which now has the potential to trade even minor shareholdings without the brokerage eating into the capital. The combination of a steadily increasing customer base and high trading activity increased the operating profit during the quarter to SEK 115 million, which is 51 per cent higher compared with the same quarter in the previous year. The falling market rates are simultaneously creating pressure on our interest incomes, even though the increased borrowing and lending significantly compensate for reducing interest margins.  At today's volumes, a one per cent change in the repo rate is equivalent to an effect of approximately SEK 100-120 million on interest incomes annually. Despite the interest rate situation, the deposit volume grew by 16 per cent during the quarter and, if the trend continues, the far larger volumes will create good leverage on our interest income when market rates rise again. We are continuing to expand within occupational pensions During January we opened our new sales office for occupational pensions and Private Banking in the Malmö stock exchange building. Together with our Gothenburg office, which was established last year, the new Malmö office is an important keystone in our aim to ensure a strong, consistent growth in occupational pension trading. After the first quarter, total growth in the net inflow for the occupational pension products amounted to 34 per cent compared with the same period in the previous year; we hope to be able to increase this growth further once the new office has got up to speed. A new mobile presence and a focus on simplicity There is a clear trend for far more customers wanting to manage their savings during the holiday period, and we will, as previously advertised, release a new mobile presence during the second quarter. We are also focusing on the need to make it even simpler for our customers to handle their savings and to find good investment options, regardless of the market conditions. For example, almost one in every six kronor in savings remains uninvested at today's interest rates environment, which is a sign that many customers need better tools and support when making investment decisions. Stockholm, 20 April 2015 Martin Tivéus, CEO Avanza For further information please contact: Martin Tivéus, CEO +46 (0)70-­861 80 04 martin.tiveus@avanza.se Birgitta Hagenfeldt, CFO +46 (0)73-­661 80 04 birgitta.hagenfeldt@avanza.se Avanza is an Internet bank founded in 1999. The Parent Company, Avanza Bank Holding AB (publ), is listed on the Stockholm Stock Exchange. Avanza’s mission is that as a customer you will have more money in your pocket than if you banked with other banks or institutions. The services include, amongst other things, saving in shares, funds, savings accounts and a strong pension offering. Avanza has more than 400,000 customers and more than SEK 160 billion in savings capital. This is equivalent to just over 2 percent of the Swedish savings market. Avanza is the largest in terms of the number of transactions of Swedish banks on the Stockholm Stock Exchange. During the last five years Avanza has won SKI’s (Swedish Quality Index) award, “Year’s Most Satisfied Savings Customers”. For more information visit: www.avanza.se