Saxo Bank announces 2017 results

Saxo Bank announces 2017 results
23.02.2018 09:15 am

Saxo Bank announces 2017 results

Trading Systems

Saxo Bank Group (“The Group”) reported a positive net profit of DKK 401 million for 2017, an increase of 33 per cent compared to 2016. Client collateral deposits continued to rise to DKK 103.6 billion while the operating income for the group was DKK 3.0 billion, a three per cent increase compared to 2016.

Saxo Bank Group continued to strengthen its capital position with the total capital ratio for the Group reaching 22.7 per cent as of the end of 2017 compared to 19.5 per cent at the end of 2016, thus retaining a comfortable buffer.

2017 Key figures at a glance (2016)

·         Operating income: DKK 3.0 billion (DKK 2.9 billion)

·         EBITDA: (profit): DKK  931.6 million (DKK 845 million)

·         Adjusted EBITDA*: DKK 1.0 billion (DKK 954.5 million)

·         Net profit: DKK 401.1 million (DKK 302.4 million)

·         Client collateral deposits: DKK 103.6 billion (DKK 92.3 billion)

·         Total equity: DKK 4.6 billion (DKK 4.2 billion)

*EBITDA adjusted for income and expenses that are not considered to be recurring and have significant impact on the Group’s net profit.

Commenting on the results, Kim Fournais, CEO and co-founder of Saxo Bank, said:

  • The 2017 results are further evidence of the strength of Saxo Bank’s scalable business model as a fintech and regtech specialist focused on multi-asset trading and investment for direct clients as well as delivering ‘Banking-as-a-Service’ to wholesale clients. Despite low market volatility, Saxo has attracted record numbers of new direct and wholesale clients. A new high in client collateral deposits is a further testament to Saxo Bank’s multi asset offering which enables clients to trade in all market cycles.
  • With a strong capital base we will continue to invest in and improve our client experience and technology to enable us stay at the forefront of client focused digitisation.

The results confirm that Saxo Bank is on the right path and we will continue to prioritise the ongoing development of best in class technology to ensure our clients and partners benefit from the best trading experience with regards to product, platform, price and service.

In February 2018 Saxo Bank announced the sale of its subsidiary Saxo Privatbank, a fully licensed retail bank with branches across Denmark to Alm. Brand, a Danish financial services group operating within non-life insurance, banking and life and pension insurance. Simultaneously Saxo will enter into a white label partnership with Alm. Brand Bank enabling clients to trade and invest in stocks, bonds, ETFs and mutual funds through Saxo’s award winning platform SaxoTraderGO.

In October 2017 it was announced that Geely Financials Denmark A/S, a subsidiary of Zhejiang Geely Holding Group Co., Ltd (“Geely Group”) offered to buy 51.5 per cent of the shares in Saxo Bank, with Sampo Group, a leading Nordic financial services group, taking a 19.9 percent in the bank. The transactions are pending regulatory approvals in their respective markets and are expected to be finalised in H1 2018.


The full report is available here: https://www.home.saxo/about-us/investor-relations

Related News

Arkéa Investment Services selects NeoXam for portfolio management

Arkéa Investment Services (Arkéa IS), the asset management... Read more »

ARQA Technologies expands its OMS solutions into European markets

ARQA Technologies, one of the major players in technologies for financial markets, continues developing solutions for the... Read more »

Saxo Bank and Nasdaq join forces to offer portfolio of growth stocks to SaxoSelect clients

Saxo Bank, the leading Fintech specialist focused on multi-asset trading and investment, and Nasdaq, the leading global provider of trading, clearing, exchange technology,... Read more »

Large-in-Scale, dark volumes increase as buy-side firms focus on delivering best execution post-MiFID II.

Liquidnet report reveals how MiFID II has impacted trading behavior in Europe to date and reviews the potential for further change given the rise in periodic auctions and... Read more »

Arro Money launches multi-platform account for sole traders

Arro Money – a product of Marq Millions – has widened its account offering with a business solution created specifically for sole traders. 

The fast-growing provider of... Read more »

ARQA Technologies advances its OMS solutions into European markets through QuantHouse data and hosting services support

 ARQA Technologies, one of the major players in technologies for financial markets, continues developing... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App