Avanza Bank Holding AB
Avanza
TypePublic
Nasdaq Stockholm: AZA
ISINSE0012454072
IndustryFinancial services
Founded1999 (1999)
FounderSven Hagströmer
Headquarters
Stockholm
,
Sweden
Area served
Sweden
Key people
ProductsSavings accounts, mortgage loans, insurance, pensions
ServicesStockbroker, corporate finance
Owner
Number of employees
635 (2022)
SubsidiariesAvanza Fonder
Avanza Pension
Placera Media
Websiteavanza.se

Avanza Bank Holding AB is a Swedish online bank based in Stockholm, specializing in savings, investments and pensions. Avanza currently serves as the largest stockbroker in Sweden and on the Stockholm Stock Exchange, with 1 863 100 customers and a 6,6% share of the Swedish savings market as of August 2023.[1]

History

Avanza was founded in 1999 as HQ.se.

In 2001, HQ.se acquired Avanza changed its name to Avanza, which became the largest stockbroker in Sweden, with 80,000 active customers.[2]

In 2006, Avanza acquired stock magazine Börsveckan and launched Placera, a free online newspaper. Placera is focused on equities, funds and savings. The two are editorially independent and are grouped under Placera Media, a wholly-owned subsidiary of Avanza.[3]

During the same year, another wholly-owned subsidiary, fund manager Avanza Fonder, was launched, along with their first product Avanza Zero, a completely free-of-charge index fund tracking the OMX Stockholm 30 index.

In 2018, Avanza Fonder launched the cheapest global fund in the world, Avanza Global, with an annual management fee of 0.05%.[4]

In 2019, Avanza won the Swedish Quality Index’s award for the most satisfied savings customers in Sweden for the tenth consecutive year.[5]

References

  1. ↑ "August: Monthly statistics". Avanza Bank. 2023-09-05. Retrieved 2023-09-12.
  2. ↑ "Avanza and HQ.SE Aktiespar form the largest Internet broker" (Press release). Cision. June 8, 2001.
  3. ↑ "Welcome to Placera". Avanza (in Swedish). Retrieved 2023-09-12.
  4. ↑ "Avanza launches the world's cheapest global fund" (Press release). Cision. August 24, 2018.
  5. ↑ "Avanza Bank Wins Banking Technology Award for Best Use of IT". GlobalFinTechSeries. 2019-12-19. Retrieved 2020-06-29.
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