January 18, 2018 / 7:27 AM / 3 months ago

BRIEF-Avanza Bank Prelim. Q4 Operating Profit Above Expectations At SEK 114 Mln

Jan 18 (Reuters) - AVANZA BANK:

* PRELIMINARY FINANCIAL STATEMENT 2017

* Q4 ‍CUSTOMER GROWTH WAS 42,500 (29,300), A NEW QUARTERLY RECORD​

* Q4 OPERATING INCOME SEK ‍274​ MILLION (REUTERS POLL SEK 253 MILLION)

* Q4 OPERATING PROFIT SEK ‍114​ MILLION (REUTERS POLL SEK 95.7 MILLION)

* NET INFLOW IN Q4 WAS SEK 3,550 MILLION

* Q4 NET PROFIT OF SEK 98 MILLION, A DECREASE OF 3 PER CENT

* FROM 2018, EXPENSES ARE EXPECTED TO RISE AT A YEARLY RATE OF 8–10 PER CENT

* ESTIMATES THE COST TO SAVINGS CAPITAL RATIO TO FALL BELOW 20 BASIS POINTS SOON

* ‍PROPOSES A DIVIDEND OF SEK 10.50 (10.50) PER SHARE​

* SAYS ‍BOARD OF DIRECTORS PROPOSES A DIVIDEND OF SEK 10.50 (10.50) PER SHARE​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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