Saxo Bank posts record financial results
Saxo Bank posted a record EUR 135M net profit
Saxo Bank Group, a global leader in online trading and investment solutions, has announced its best financial performance in history.
The bank reported a net profit of EUR 135 million for 2024, marking a 287% increase from EUR 35 million in 2023. The adjusted net profit reached EUR 144 million, further highlighting the company's strong financial position, according to the Saxo Bank website.
Strategic pricing and client growth
In early 2024, Saxo Bank introduced a new global pricing strategy, lowering fees for clients. This initiative aimed to enhance customer value and reinforce the bank's reputation as a provider of affordable and efficient solutions through its award-winning platforms.
The strategy proved successful, leading to record-breaking client growth, with the number of clients reaching 1.3 million, and total client assets growing to EUR 114 billion, demonstrating increasing trust in Saxo Bank’s services.
Key Financial Figures for 2024:
- Total revenue: EUR 626 million (compared to EUR 601 million in 2023)
- Net profit: EUR 135 million (compared to EUR 35 million in 2023)
- Adjusted net profit: EUR 144 million (compared to EUR 88 million in 2023)
- Total equity: EUR 839 million (compared to EUR 854 million in 2023)
- Total client assets: EUR 114 billion (compared to EUR 100 billion in 2023)
- Number of clients: 1,286,000 (compared to 1,159,000 in 2023)
- Capital adequacy ratio: 29% (compared to 32% in 2023)
CEO’s statement on growth and future strategy
Kim Fournais, CEO and Founder of Saxo Bank, commented on the results:
"I am very proud to report that 2024 was the best financial year in Saxo Bank’s history. This is clearly a very satisfactory result for us. The progress underscores our steadfast commitment to creating value for all our stakeholders and strengthening our foundation for sustainable growth. 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. Our comprehensive trading and investment platforms have provided robust tools and resources, enabling our clients and partners to navigate the markets efficiently and build more resilient, diversified portfolios."
Fournais also emphasized that these achievements were made possible through the dedication and hard work of Saxo Bank employees, who played a key role in the company’s growth.
Innovation and expansion in 2024
Throughout 2024, Saxo Bank introduced several new initiatives, including:
- Lower trading fees across multiple asset classes to attract new investors.
- The launch of AutoInvest, an automated monthly investment account to simplify investing.
- Expansion of investor platforms to new markets, making investing more accessible to a wider audience.
Commitment to security and compliance
Saxo Bank remains committed to cybersecurity, risk management, and anti-money laundering measures, ensuring a secure and compliant trading environment. These initiatives are key to the bank's long-term strategy.
Looking ahead, Saxo Bank plans to increase its client base, expand client assets, and continue enhancing its platforms and services to maintain its leading position in global trading and investments.
