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Financials

BRIEF-Avanza Bank Q1 net profit in line with forecasts

April 20 (Reuters) - Avanza Bank

* Q1 net profit of SEK 103 million

* Reuters poll: Avanza Q1 net profit was seen at SEK 102 million

* Says Q1 customer growth remained strong and number of new customers was 38,400 (26,100)

* Q1 operating income SEK 247 million

* Says we have had a record start to 2017 despite more intense competition in terms of price pressure and new challengers

* Says guidance for 2017 remains firm: expenses are expected to rise by 15-20 per cent compared to 2016

* Says brokerage income remained in line with the previous quarter. Year-on-year it was slightly lower, since last year’s trading was especially high, mainly in Fingerprint Cards Source text for Eikon: Further company coverage: (Stockholm Newsroom)

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