26 February 2018
Monthly Notification , Saxo Bank
We reported a positive net profit of DKK 401 million for 2017, an increase of 33% compared to 2016. Client collateral deposits continued to rise to DKK ...
We reported a positive net profit of DKK 401 million for 2017, an increase of 33% compared to 2016. Client collateral deposits continued to rise to DKK 103.6 billion while the operating income for Saxo Bank Group was DKK 3.0 billion, a 3% increase compared to 2016.
We continued to strengthen our capital position with the total capital ratio for the Group reaching 22.7% as of the end of 2017 compared to 19.5% 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.
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