April web-activity insights
Web-activity data so far in April points to trading activity being down 6–10% MOM for Avanza and Nordnet. This slightly soft start to Q2 and fewer trading days suggest Avanza’s brokerage income could drop more than consensus of -10% QOQ in Q2. However, we expect Avanza’s net interest income (NII) growth to accelerate significantly in Q2, after falling slightly QOQ in Q1, helping to buoy earnings growth in 2023e. The platforms are due to release their April statistics on 4 May.Avanza Bank Holding is the holding company of the Avanza Bank Group. Co.'s offerings comprise of: brokerage services, which enable investments in Swedish and foreign equities, bonds, funds, derivative financial instruments including futures, warrants and options, investment advisory services, pension products, pension insurance, as well as capital insurance services. Co. targets private individuals, high net-worth customers, corporate customers, day traders, fund managers and institutions.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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