Slides
Page 1
För att ändra bakgrundsbild, högerklicka någonstans på bakgrunden, välj Formatera bakgrund, välj Bild eller strukturfyllning eller Hel fyllning (om du bara vill ha en färgad bakgrund) , sedan Infoga bild från fil. Investor Presentation Q3 2026
Page 2
0 10,000 20,000 30,000 0 100 200 300 Q3'16 Q3'17 Q3'18 Q3'19 Q3'20 Q3'21 Q3'22 Q3'23 Q3'24 Q3'25 Q3'26 Track Record Since IPO * Excluding items affecting comparability Q4-18 and Q1-20 2Avarda Bank AB | Investor Presentation Q3 2026 Operating Profit CAGR, % 23 2016 – LTM Q3 2026 Operating profit, SEK million Loans to the public, SEK million
Page 3
Joakim Jansson Group CEO Mikael Meomuttel Group CFO Agenda 3Avarda Bank AB | Investor Presentation Q3 2026 Highlights Business Overview Performance in the Segments Financial Overview Outlook Q&A Reasons to Invest Appendix Company Presenters
Page 4
Highlights Another Quarter Marked by Profitability and Growth “This performance reflects the strategic shift that has been transforming Avarda for several years. We continue to actively reallocate capital, technology and customer acquisition resources from Consumer Lending towards Everyday Finance. This allows us to prioritise on relationship-based digital services embedded in our customers’ everyday lives.” 4Avarda Bank AB | Investor Presentation Q3 2026
Page 5
+10bp KPIs - Drive Profitable and Scalable Growth 5 A combination of growth, effective monetisation and risk discipline underpins sustainable value creation. Revenue per customer, SEK 1,016 July – September 2026, annualised Number of customers, million 3.9 As of 30 September 2026 594 Of which are app-users 1, thousand Risk-adjusted margin, % 9.0 July – September 2026 • Ensures credit discipline • Optimises risk vs. return • Stable profitability over time • Measures reach • Drives operating leverage • Builds recurring earnings • Turns customers into income • Reflects broader use of our services • Drives margin expansion Notes: 1) The number of app-users is equated with the number of active credit cards. Avarda Bank AB | Investor Presentation Q3 2026 Highlights Quality of growth Scale and position Monetising our customer base +35%
Page 6
50 150 250 350 Q3'25 Q3'26 +29% YoY Highlights Key Takeaways • Loan portfolio +5% QoQ in local currencies • Operating profit SEK 298 million, +29% vs Q3 2025 • C/I ratio of 33% during the quarter 6Avarda Bank AB | Investor Presentation Q3 2026 Operating profit (SEK million) Return on equity, % 28.1 July – September 2026 Loan portfolio, SEK million 28,380 As of 30 September 2026 Total capital ratio, % 15.2 As of 30 September 2026 “Credit card activity continues to increase and is a key driver of our long- term growth. Every transaction deepens our understanding of our customers’ needs and behaviour, enabling more informed credit decisions and creating opportunities to increase revenue over time.” Joakim Jansson Group CEO
Page 7
7 Business Overview Progress Towards Financial Targets 24% Reported YoY Loan portfolio Q3’26 28.1% Return on equity Q3’26 15.2%Capital ratio KPI Q3’26 performance Financial targets Commentary SEK 35 bn By H2 2027 On course to meet financial target >20% Well above ≥2.5 percentage points All capital ratios to exceed the regulatory requirement by at least 12.9% Requirement (Sep-26) Return on equity maintained well above 20% Capital ratios well above regulatory requirements; total capital ratio just below target Avarda Bank AB | Investor Presentation Q3 2026
Page 8
0 10,000 20,000 30,000 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Avarda Group Everyday Finance Consumer Lending Well-Positioned for Scalable Growth 8Avarda Bank AB | Investor Presentation Q3 2026 Loan portfolio per segment (SEK million) Year-on-Year 20% Growth in local currencies 5% Quarter-on-Quarter Avarda Group Year-on-Year 34% Growth in local currencies 7% Everyday Finance Year-on-Year -1% Growth in local currencies 2%Consumer Lending Quarter-on-Quarter Quarter-on-Quarter Business Overview
Page 9
1% 2% 4% 4% 4% 4% 5% 9% 18% 49% 0% 10% 20% 30% 40% 50% 60% Other Denmark Austria Estonia Lithuania Latvia Sweden Finland Norway Germany Business Overview Market Takeaways Loan portfolio by market 1 Notes: 1) As of Q3 2026, 2) Italy, Spain and Poland Avarda Bank AB | Investor Presentation Q3 2026 9 2 Germany Core market; strong momentum in new card issuances, scaling up Consumer Lending operations Norway Strong growth in cards and e-commerce partnerships Austria Strong credit card performance in all aspects
Page 10
Performance in the Segments Everyday Finance Highlights • The loan portfolio closing in on SEK 19 bn – German and Austrian markets are main drivers • Growing customer base – 491k app-users in Germany, +30% YoY • Continued scalability in our business model 10Avarda Bank AB | Investor Presentation Q3 2026 Segment description Everyday Finance is a segment where we build long-term and continuous relationships linked to the customer’s daily finances with a customer promise to be available whenever customers need us. The app is the hub of the customer relationship, and each new service integrated into the app strengthens the relationship while increasing customer value over time. The segment includes credit cards and digital payment solutions, offered through a modern user interface with a high degree of flexibility. The offering is built on Avarda’s proprietary platform, where integrated customer journeys and data-driven decision-making enable rapid development and efficient achievement of economies of scale across multiple markets. Share of loan portfolio Share of operating income Transaction volume 1, SEK billion 13.7 July – September 2026 Loan portfolio, SEK billion 18.7 As of 30 September 2026 Newly issued credit cards 73.800 July – September 2026 77% 66% Everyday Finance Notes: 1) The sum of all purchases that go through Avarda Group’s platform, 2) Year-on-year in local currencies, 3) Year-on-year +30% +34% 2 +29% 3
Page 11
Highlights • Credit offering in Germany moving into its next phase, following a scale-up of sales from early summer • Mature segment with a stable profit contribution • Strategic decision to limit growth initiatives and reallocate resources from the Nordic markets Share of loan portfolio Share of operating income Consumer Lending 11Avarda Bank AB | Investor Presentation Q3 2026 Segment description Consumer Lending addresses the customer’s credit needs at a specific point in time. The segment mainly consists of the Bank’s offering of unsecured consumer loans to creditworthy retail customers. The offering is adapted to local market conditions, where the product range varies between markets. New lending, SEK billion 1.5 July – September 2026 Loan portfolio, SEK billion 9.7 As of 30 September 2026 23% 34% Consumer Lending Notes: 1) Year-on-year, 2) Year-on-year in local currencies Average loan per customer 80.200 As of 30 September 2026 Performance in the Segments +4% 1 -1% 2
Page 12
12 8.9 9.0 8.9 8.9 9.0 -500 -200 100 400 700 1,000 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Operating income Net loan losses Risk-adjusted margin Financial Overview • Risk-adjusted income 1 – Stable risk-adjusted margin 2 • Operating income – Credit cards in Germany are the main driver • Net loan losses – Elevated upfront IFRS 9 provisions Stable Risk-Adjusted Margin Notes: 1) Operating income minus net loan losses, 2) Ratio based on current quarter, annualised Risk-adjusted margin (%) Avarda Bank AB | Investor Presentation Q3 2026 +10bp YoY
Page 13
25 30 35 40 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Avarda Group Everyday Finance Consumer Lending Financial Overview Improving Cost Efficiency Supports Scaling • Operating expenses Q3 2026 vs. Q3 2025, +21% – Higher sales-related costs • Cost/income ratio per segment in Q3 2026 – Everyday Finance 34% – Consumer Lending 32% 13Avarda Bank AB | Investor Presentation Q3 2026 Cost/Income ratio (%) Growth in operating income, % 29 Q3 2026 vs Q3 2025 Growth in operating expenses, % 21 Q3 2026 vs Q3 2025
Page 14
75 150 225 300 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Financial Overview Continued Strong Profit Growth • Operating profit Q3 2026 vs. Q3 2025, +29% – Driven by Everyday Finance segment – Earnings per share, SEK 3.51, +30% • Strong profitability in Q3 2026 Operating profit (SEK million) Earnings per share, SEK 3.51 July – September 2026 (2.70) Return on loans to the public, % 3.3 July – September 2026 (3.1) Return on equity, % 28.1 July – September 2026 (25.0) 14Avarda Bank AB | Investor Presentation Q3 2026 +29% YoY
Page 15
10.4 10.3 10.5 10.1 10.4 50 100 150 200 250 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Operating profit Risk-adjusted margin Everyday Finance Driving Profitable Growth • Operating profit Q3 2026 vs. Q3 2025, +49% – Driven by growing operating income – Higher risk-adjusted margin vs. Q2 • Return on loans to the public, 3.8% (3.5) – Economies of scale, C/I ratio 33.7% (36.0) 15 Risk-adjusted margin (%) Operating profit (SEK million) Avarda Bank AB | Investor Presentation Q3 2026 Financial Overview by Segment +49% YoY
Page 16
6.8 6.9 6.3 6.8 6.4 25 50 75 100 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Operating profit Risk-adjusted margin Operating profit (SEK million) Risk-adjusted margin (%) Solid Returns in Consumer Lending • Operating profit Q3 2026 vs. Q3 2025, -5% – Decreased risk-adjusted margin • Return on loans to the public, 2.6% (2.8) – C/I ratio improved YoY to 31.6% (33.7) – Maintaining solid returns 16Avarda Bank AB | Investor Presentation Q3 2026 Financial Overview by Segment -5% YoY
Page 17
0 8,000 16,000 24,000 32,000 Liquidity reserve as of 30 September 2026 (SEK million) Deposits from the public as of 30 September 2026 (SEK million) Resilient Funding and Liquidity • Retail deposits in Europe ▪ Germany (SEK 19.4 billion) ▪ Netherlands (SEK 7.1 billion) ▪ Other 1 (SEK 4.0 billion) – Fixed-term deposits: 43% • Higher ECB rates largely passed on • Available liquidity reserve: 18% of deposits • LCR and NSFR: 195% and 119% Notes: 1) Spain, Ireland, Finland, Sweden and Norway, 2) Cash and balances with central banks and loans to credit institutions available the next day, 3) Remaining term to maturity of up to 12 months. 17 Other 2 HQLA 3 Avarda Bank AB | Investor Presentation Q3 2026 Financial Overview 18% of depositsFixed-term: 43%
Page 18
12.5% 8.8% 8.8% 8.8% 13.5% 15.2% 3.7% 10.5% 10.5% 1.3% 3.0% 12.9% 1.3% 2.3% 1.3% Capital ratios 30 September 2026 Headroom to CET1 regulatory capital requirements (including Pillar 2 and buffer requirement) Headroom to T1 regulatory capital requirements (including Pillar 2 and buffer requirement) Headroom to T1+T2 regulatory capital requirements (including Pillar 2 and buffer requirement) Comfortable Headroom to Capital Requirements • Loan portfolio growth and regulatory foreseeable dividend lower capital ratios • Comfortable headroom to regulatory requirements • Total capital ratio just below target; options to strengthen capital via the bond market under review 18 CET1 T1 T1+T2 CET1 T1 T1+T2 Headroom Headroom T1 16.5%1 14.8%1 13.8%1 Headroom CET1 CET1 Avarda Bank AB | Investor Presentation Q3 2026 Financial Overview Notes: 1) Capital situation excluding foreseeable dividend for 2026
Page 19
Driving the Next Phase of Growth • Everyday Finance remains our growth engine • Credit cards driving long-term growth • Growing app engagement and transaction volumes • Well positioned for continued profitable growth 19 Outlook Avarda Bank AB | Investor Presentation Q3 2026
Page 20
För att ändra bakgrundsbild, högerklicka någonstans på bakgrunden, välj Formatera bakgrund, välj Bild eller strukturfyllning eller Hel fyllning (om du bara vill ha en färgad bakgrund) , sedan Infoga bild från fil. Q&A Session
Page 21
Investing in Avarda Group • High-yield lending model with a focus on stable loan losses and robust risk-adjusted margins • Scalable digital platform enabling profitable growth across European markets • Strong exposure to structural growth within payments and financing • Recurring customer relationships driving lifetime value and predictable revenues • Technology-driven scalability combined with bank- grade risk management and strong capital position 21 Avarda is a digital provider of financial services to individuals in Europe. With innovation and technology at the forefront, Avarda is continuously available with customer-tailored payment, savings, and lending solutions, whenever customers need them. Through credit cards, payment solutions, and loans, Avarda serves both consumers and business partners by fostering long-term customer relationships rather than focusing on one-off transactions. The business model combines a proprietary, scalable platform with disciplined lending and bank-grade risk management, enabling profitable growth and stable risk-adjusted returns across multiple markets. Avarda Bank AB | Investor Presentation Q3 2026 Reasons to Invest
Page 22
Financial Calendar and Contact 2027 Year-end Report January – December 2026 20 January 2027 Interim Report January – March 2027 14 April Investor Relations Mikael Meomuttel ir@avarda.com group.avarda.com 22 2027 Annual Report 2026 19 March Avarda Bank AB | Investor Presentation Q3 2026
Page 23
För att ändra bakgrundsbild, högerklicka någonstans på bakgrunden, välj Formatera bakgrund, välj Bild eller strukturfyllning eller Hel fyllning (om du bara vill ha en färgad bakgrund) , sedan Infoga bild från fil. Appendix
Page 24
24 Historical Financial Performance TSEK Jul-Sep 2026 Jul-Sep 2025 YoY Jan-Sep 2026 Jan-Sep 2025 YoY Jan-Dec 2025 Income statement Operating income 963,556 747,571 29% 2,686,772 2,106,170 28% 2,904,504 Operating expenses -320,132 -264,400 21% -922,650 -773,330 19% -1,052,892 Net loan losses -345,805 -252,312 37% -965,928 -719,033 34% -995,804 Operating profit 297,619 230,859 29% 798,194 613,807 30% 855,808 Profit for the period 233,319 180,787 29% 642,366 477,599 34% 667,046 Adjusted earnings per share, SEK 3.51 2.70 30% 9.38 7.13 36% 9.95 Balance sheet Loans to the public 28,379,596 22,796,663 24% 28,379,596 22,796,663 24% 23,678,282 Deposits from the public 30,500,045 23,666,311 29% 30,500,045 23,666,311 29% 24,856,055 Transaction volume 15,161,784 11,945,259 27% 41,189,043 31,718,197 30% 45,245,845 Key figures Operating income margin, % 14.1 13.4 13.8 13.0 13.2 Net loan loss ratio, % 5.1 4.5 4.9 4.5 4.5 Risk-adjusted margin, % 9.0 8.9 8.9 8.5 8.7 Cost/income-ratio, % 33.2 35.4 34.3 36.7 36.3 Adjusted return on equity, % 28.1 25.0 25.3 22.8 23.1 Adjusted return on loans to the public, % 3.3 3.1 3.1 2.9 2.9 Appendix Avarda Bank AB | Investor Presentation Q3 2026