The Danish
online trading and investment company Saxo Bank Group has announced record-breaking
2024 numbers, with net profit soaring 287% to €135 million from €35 million in
the previous year. The company’s adjusted net profit reached €144 million,
marking the most successful year in its history.
Saxo Bank Profit Rises
287% as Client Base Nears 1.3 Million
The performance
comes on the heels of Saxo Bank’s implementation of a new global pricing
strategy early in 2024, which saw the introduction of more competitive rates
for clients. This move appears to have paid off handsomely.
By the end
of 2024, Saxo Bank’s client base had grown to almost 1.3 million, up from 1.16
million at the end of 2023. Total client assets under management also hit an
all-time high of €114 billion, representing a 14% increase from the previous
year’s €100 billion.
“The
progress underscores our steadfast commitment to creating value for all our
stakeholders and strengthening our foundation for sustainable growth,” Kim
Fournais, the CEO and Founder of Saxo Bank, said. “With almost 1.3 million
clients and client assets reaching an impressive EUR 114 billion, these
milestones showcase the trust and confidence placed in Saxo Bank.”
New Initiatives
Despite the
impressive growth in profitability, total income saw a more modest increase,
rising to €626 million from €601 million in 2023. The company maintained a
strong capital ratio of 29%, though this was slightly down from 32% in the
previous year.
Saxo Bank’s
focus remains centered on expanding its client base and assets under
management, while also enhancing its product and platform offerings.
The company
introduced several new initiatives in 2024, including the launch of an
automated monthly investing account called AutoInvest and the expansion of its
Investor platforms to additional markets.
“A few
highlights are the introduction of more competitive prices across products and
the launch of our automated monthly investing account known as AutoInvest. We
also introduced our Investor platforms to more markets, enabling more curious
people to get invested in the world,” the CEO commented.
Fournais
emphasized the company’s ongoing commitment to compliance, anti-money
laundering measures, cybersecurity, and risk management, stating these areas
will “remain a core priority” for Saxo Bank moving forward.
The Danish
online trading and investment company Saxo Bank Group has announced record-breaking
2024 numbers, with net profit soaring 287% to €135 million from €35 million in
the previous year. The company’s adjusted net profit reached €144 million,
marking the most successful year in its history.
Saxo Bank Profit Rises
287% as Client Base Nears 1.3 Million
The performance
comes on the heels of Saxo Bank’s implementation of a new global pricing
strategy early in 2024, which saw the introduction of more competitive rates
for clients. This move appears to have paid off handsomely.
By the end
of 2024, Saxo Bank’s client base had grown to almost 1.3 million, up from 1.16
million at the end of 2023. Total client assets under management also hit an
all-time high of €114 billion, representing a 14% increase from the previous
year’s €100 billion.
“The
progress underscores our steadfast commitment to creating value for all our
stakeholders and strengthening our foundation for sustainable growth,” Kim
Fournais, the CEO and Founder of Saxo Bank, said. “With almost 1.3 million
clients and client assets reaching an impressive EUR 114 billion, these
milestones showcase the trust and confidence placed in Saxo Bank.”
New Initiatives
Despite the
impressive growth in profitability, total income saw a more modest increase,
rising to €626 million from €601 million in 2023. The company maintained a
strong capital ratio of 29%, though this was slightly down from 32% in the
previous year.
Saxo Bank’s
focus remains centered on expanding its client base and assets under
management, while also enhancing its product and platform offerings.
The company
introduced several new initiatives in 2024, including the launch of an
automated monthly investing account called AutoInvest and the expansion of its
Investor platforms to additional markets.
“A few
highlights are the introduction of more competitive prices across products and
the launch of our automated monthly investing account known as AutoInvest. We
also introduced our Investor platforms to more markets, enabling more curious
people to get invested in the world,” the CEO commented.
Fournais
emphasized the company’s ongoing commitment to compliance, anti-money
laundering measures, cybersecurity, and risk management, stating these areas
will “remain a core priority” for Saxo Bank moving forward.
This post is originally published on FINANCEMAGNATES.
