Saxo Bank has released its Annual Report 2024, which indicates record profit and accelerating client growth driven by its new global pricing strategy, which saw the trading services provider reducing its prices for clients as part of its commitment to improve the value offered to clients.
The trading firm experienced sustained growth and reached a record of almost 1.3 million clients by the end of 2024, with all-time high client assets of DKK 853 billion. 2024 key figures at a glance (2023):
- Total income: DKK 4,670 million (DKK 4,481 million)
- Net profit: DKK 1,005 million (DKK 260 million)
- Adjusted net profit: DKK 1,074 million (DKK 653 million)
- Total equity: DKK 6,254 million (DKK 6,366 million)
- Total client assets: DKK 853 billion (DKK 745 billion)
- Total number of clients: 1,286,000 (1,159,000)
- Capital ratio: 29% (32%)
Compliance, AML, Cyber Security, Risk Management Are Core Priority
Kim Fournais, CEO and Founder of Saxo Bank, said: “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 DKK 853 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.
“The result is naturally also a large testament to the collective efforts of our employees who have driven Saxo Bank’s performance and achievements this year.
“In 2024, we welcomed several new initiatives to make Saxo Bank attractive for even more people. 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.
“Moving forward, our strategic focus remains unchanged. We continue to focus on growing our number of clients and client assets, and on enhancing the product and platform offerings to the benefit of our clients while focusing on our core markets.
“In our commitment to protecting our clients and upholding the integrity of our business, Saxo Bank has continued to make significant investments and improvements in compliance, anti-money laundering, cyber security, and risk management. This will remain a core priority as well.”
Saxo UK saw 132% growth in new trading clients
Last week, Saxo reported a substantial increase in client numbers in the UK following the introduction of its revised pricing model. The total number of new trading clients across all markets has risen 132% in 2024 compared to 2023, with notable demographic shifts in the UK.
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