Strong financial result for Nordnet in the third quarter - Nordnet Bank AB

Strong financial result for Nordnet in the third quarter

Lars Ake Norling 980x653

Today Nordnet publishes its interim report for the period January-September 2020. Increased income and stable cost level give an operating profit of SEK 337 million, an increase of 265 percent, compared with the third quarter 2019.

Nordnet’s business developed well in the third quarter. We are seeing continued strong interest in savings and investments, and a high level of activity in the market. In the third quarter, we welcomed more than 50,000 new savers to our platform, and we now have more than 1.1 million customers in total. Our customers’ savings capital amounts to a record SEK 478 billion. Combined, the high levels of activity and growth gave a strong financial result for the third quarter, says Lars-Åke Norling, CEO of Nordnet.

Highlights during the quarter
• Strong growth in the business with savings capital and lending reaching new top levels, continued major inflow of new customers and high levels of trading activity
• Continued improvements of the platform – new function for monthly savings, launch of proprietary index funds, integration of the Nordnet blog on the customer site, and additional inspiring functions in the app
• Strong financial results – increased income and stable cost level give an operating profit of SEK 337 million

Read more in the press release here.