Nordnet Interim Report January-September 2018 - Nordnet Bank AB
2018-10-25

Nordnet Interim Report January-September 2018

Today Nordnet publishes its interim report for January-September 2018. The full report is available at nordnetab.com.

–   Our operations are growing at a good pace, and both the quarter and 2018 to date have been strong periods in terms of income. For the period July-September, our income amounted to SEK 305 million, slightly more than 5 percent higher than in the third quarter of 2017. We have welcomed 24,000 new Nordic savers to our platform during the quarter and our customers’ total savings capital amounts to SEK 324 billion, an increase of slightly more than 20 percent in the past year, says Anders Danielsson, acting CEO of Nordnet. 

–   In August, we introduced a new app for iPhone, which has been much appreciated by the users. Nordnet’s success is not based on a secret algorithm or an exclusive patent. Our value lies in being able to translate the commitment and competence of our 500 employees into a user experience that our clients perceive as world-class, enabling them to realize their aspirations as savers, says Anders Danielsson.

Highlights during the quarter 

  •  New mobile app for iPhone introduced – triples app store rating
  •  Customer base grows by 16 percent on an annual basis, savings capital increases by 21 percent
  •  The social investment network Shareville reaches 200,000 members
  •  Anders Danielsson acting CEO from October

Financial results in brief, July-September 2018 

  • Operating income increased by 5 percent, amounting to SEK 305.4 million (290.3)
  • Operating profit decreased by 40 percent to SEK 30.5 million (50.6)
  • Profit after tax for the period decreased by 38 percent to SEK 26.7 million (43.4)
  • The number of new customers increased by 23,800 during the quarter
  • Net savings amounted to SEK 4.9 billion (4.1)

Financial results in brief, January-September 2018 

  • Operating income increased by 6 percent, amounting to SEK 962.9 million (911.0)
  • Operating profit decreased by 45 percent to SEK 105.4 million (193.3)
  • Profit after tax for the period decreased by 46 percent to SEK 87.6 million (161.7)
  • The number of new customers increased by 16 percent to 741,800 (640,200)
  • Net savings amounted to SEK 22.1 billion (13.3)

For more information, please contact:
Johan Tidestad, Head of Communications
+46 708 875 775, johan.tidestad@nordnet.se

Nordnet is a digital bank for savings and investments and we operate in Sweden, Norway, Denmark and Finland. With user-friendliness, availability, a broad offering and low prices, we give our customers the opportunity to achieve their savings ambitions. Visit us at www.nordnetab.comwww.nordnet.sewww.nordnet.nowww.nordnet.dk or www.nordnet.fi.