Welcome!

News Feed Item

Saxo Bank's Profits Grow as Clients' Collateral Deposits Reach All-time High

HELLERUP, Denmark, March 28, 2014 /PRNewswire/ --



 

Saxo Bank, the online trading and investment specialist, saw clients' collateral deposits increase by 26% to DKK 50.6 billion by the end of the year, which is a new all-time high. This is a very positive development as clients' funds held as collateral are the basis for future trading and investment by clients on the Bank's platform and also serve as a very clear indication of the customer appeal of Saxo Bank's global, multi-asset strategy.

To view the Multimedia News Release, please click:

http://www.multivu.com/mnr/71400511-saxo-bank-profits-grow 

Despite the ongoing challenging market conditions in trading, non-recurring items, divestments and write downs on non-core activities, Saxo Bank Group doubled its net profit from DKK 81 million for 2012 to DKK 162 million for 2013 and EBITDA increased by 48%:

  • Operating income: DKK 2,861 million (DKK 2,966 million in 2012)
  • EBITDA: DKK 898 million (DKK 606 million)
  • Profit before tax: DKK 247 million (DKK 152 million)
  • Net profit: DKK 162 million (DKK 81 million)
  • Clients' collateral deposits: DKK 50.6 billion (DKK 40.2 billion)

Saxo Bank's results are directly linked to clients' trading activity. Saxo Bank sees clear indications that the quality of the multi-asset offering has a positive impact on client activity levels and retention rates. This is illustrated by the fact that more of Saxo Bank's direct private clients who were trading FX, stocks, CFDs and futures in 2012 remained active traders in 2013. However, low market volatility and low interest rate levels continue to dampen the effect of these positive trends.

Saxo Bank Group's total capital ratio, solvency ratio, increased from 13.5% to 16.2%.

The founders and CEOs of Saxo Bank, Kim Fournais and Lars Seier Christensen, said in a joint statement:

"We note with pleasure the significant increase in EBITDA which shows that Saxo Bank is on a solid path, focusing on the core business. At the same time, clients' collateral deposits reached an all-time high, reaffirming the strength of our global, multi-asset offering. We will continue to focus on clients and the value chain, developing our products and platforms, not least our multi-asset social trading platform, TradingFloor.com, which enters into a new phase of its development".

"Overall, the market situation is uncertain but Saxo Bank has a solid foundation for its operations in 2014. Our focus remains on growth, clients, efficiency, profitability and optimisation of the entire value chain. Cost control, capital and liquidity management are, as ever, ongoing themes for Saxo Bank in 2014. With a close eye on overall cost development, we will continue to invest in products and platforms. Finally, system enhancements and knowledge upgrades are a part of the Bank's core projects."

About Saxo Bank  

Saxo Bank is a leading online trading and investment specialist, offering private investors and institutional clients a complete set of tools for their trading and investment strategies. Its financial community portal, TradingFloor.com, is the first multi-asset social trading platform. A fully licensed and regulated European bank, Saxo Bank enables clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives on our award-winning SaxoTrader platform, accessible on PCs, tablets or smartphones through a single account and available in more than 20 languages. The platform is white-labelled by more than 100 major financial institutions worldwide. Saxo Bank also offers professional portfolio and fund management as well as traditional banking services through Saxo Privatbank. Founded in 1992, Saxo Bank is headquartered in Copenhagen and has offices in 25 countries throughout Europe, Asia, the Middle East, Latin America, Africa and Australia.



Video: 
     http://www.multivu.com/mnr/71400511-saxo-bank-profits-grow

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Kubernetes is an open source system for automating deployment, scaling, and management of containerized applications. Kubernetes was originally built by Google, leveraging years of experience with managing container workloads, and is now a Cloud Native Compute Foundation (CNCF) project. Kubernetes has been widely adopted by the community, supported on all major public and private cloud providers, and is gaining rapid adoption in enterprises. However, Kubernetes may seem intimidating and complex ...
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - we've lost control, we've given up cost to a certain extent, and then security, flexibility," explained Steve Conner, VP of Sales at Cloudistics,in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DX encompasses the continuing technology revolution, and is addressing society's most important issues throughout the entire $78 trillion 21st-century global economy," said Roger Strukhoff, Conference Chair. "DX World Expo has organized these issues along 10 tracks with more than 150 of the world's top speakers coming to Istanbul to help change the world."
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained , Chief Technology Officer at Peak 10, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.