Saxo Bank Profits Remain Flat in 2021, Client Number Jumps 19%

Saxo Bank Group has published its annual financials for 2021, reporting a marginal increase in profits to DKK 755 million, compared to the previous year’s DKK 750 million. Revenue for the period came in 4.6 percent higher at almost DKK 4.23 billion.

In addition, the EBITDA for the 12 months came in flat at DKK 1.62 billion. However, the total equity went down from DKK 7.4 billion to DKK 7.2 billion.

“The financial result for 2021 was satisfactory,” Saxo Bank’s Founder and CEO, Kim Fournais, said in a statement.

Another Rush in Retail Trading

Despite the timid financials, all of the client-centric parameters showed excellent growth last year. The Danish broker onboarded a record number of 263,000 new clients on its trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term last year, thus closing the year with 820,000 in total clients.

Moreover, the total assets held by Saxo’s growing client base on the platform jumped significantly. It was holding DKK 640 billion in total client assets at the closure of the year, compared to DKK 478 billion in the prior year.

“The year 2021 saw both growth and consolidation for the Saxo Bank Group,” Fournais added. “In Q1, we saw a record-high inflow of clients and client assets. In subsequent quarters, growth rates stayed positive, albeit at a more moderate level.”

Additionally, Saxo benefited from its acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of BinckBank in August 2019, adding more than 400,000 direct clients from the Netherlands, Belgium, France and Italy. These clients are being migrated to Saxo in a phased manner and will be completed in 2022.

“Completing the BinckBank migration will be a major milestone and will release more resources to focus on further scaling and growing our business and optimizing our processes and technology,” said the CEO.