Nordnet reports customer growth and increased trading activity in May
Nordnet's customer base grew to 1.96 million by the end of May. Net savings reached SEK 8 billion, with customers executing over 4.3 million trades during the month.
Nordic digital savings and investment platform Nordnet has reported a notable increase in its customer base for May. By the end of the month, the total number of customers stood at 1,959,300, marking a 1.1% rise compared to April and a 10.5% increase year-on-year. The platform has added 96,400 new customers in 2024 alone.
In May, Nordnet's customers conducted a total of 4.37 million trades in listed financial instruments, averaging 216,900 trades per day. While the total number of trades saw a 5.4% decrease from the previous month, it was 12.7% higher than in May 2023. Trade volume growth compared to the previous year was particularly strong in Denmark and Norway.
Net savings amounted to SEK 8 billion in May, a 37.9% increase from April and a substantial 471.4% surge compared to May of the previous year. Year-to-date, net savings have reached SEK 32.3 billion. Savings capital stood at SEK 953 billion at the close of May, up 3.1% month-on-month.
The total lending volume was SEK 30.7 billion, a slight decrease from the prior month. Mortgage lending remained stable, while margin lending saw a small decline. Personal loans also experienced a marginal decrease, potentially reflecting a more cautious approach to borrowing among customers during May.