Saxo Bank’s Operating Income Reaches DKK 2.4 Billion in H1 2021

Saxo Bank Group, one of the leading providers of Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term services, released its financial results for the first six months of 2021 today. Saxo Bank’s operating income reached DKK 2.4 billion in H1 of 2021, compared to DKK 2.3 billion during the same period in 2020.

According to the results, the financial services provider reported a net profit of DKK 512 million in the first half of 2021, compared to DKK 529 million in H1 of 2020. In the first six months of 2021, Saxo Bank saw record growth in the number of clients as 159,000 new trading clients joined the company.

According to Saxo Bank, the company now has more than 790,000 clients. The total client’s assets reached DKK 595 billion as of 30 June 2021. EBITDA for the first half of 2021 reached DKK 963 million, compared to DKK 967 million in H1 of 2020.

Commenting on the latest financial results, Kim Fournais, CEO and founder of Saxo Bank, said: “During the first six months of the year, more than 159,000 new active clients opened an account with Saxo Bank - we are both proud and humbled that an increasing number of people continue to put their trust in us. As of June 30th, we service more than 790,000 clients and hold DKK 595 billion in clients’ assets, which is another record-breaking milestone in Saxo Bank’s 29-year history. It took 25 years to reach the DKK 100 billion milestone and then only 4 years to add an additional DKK 500 billion in clients’ assets."

Outlook

In addition to the H1 of 2021 results, Saxo Bank provided the outlook for the second half of 2021. “The Saxo Bank Group now expects to end 2021 with a positive net profit in the range of DKK 650 - 800 million. The Group previously expected a net profit for the full year in the range of DKK 500 - 800 million as stated in the Annual Report 2020,” the company highlighted.

Earlier this week, Saxo Bank selected Camilla Dahl Hansen as Chief Saxo Experience Officer.