Saxo Bank Surpasses DKK 800 Billion in Client Assets

Saxo Bank surpasses DKK 800 billion in client assets, reflecting strong client trust and diversified investment offerings.

Key Points

• Saxo Bank has surpassed DKK 800 billion (USD 116.1 billion) in client assets, signifying a significant milestone in the bank’s growth trajectory.
• CEO Kim Fournais attributes the achievement to client trust, highlighting the effectiveness of the bank’s strategy of lowering prices and offering a diverse range of investment products.
• S&P Global Ratings upgraded Saxo Bank’s long-term credit rating to ‘A—,’ indicating a strengthened financial profile and alignment with SIFI requirements.

Multi-asset investment specialist Saxo Bank has achieved a significant milestone, reporting client assets exceeding DKK 800 billion (USD 116.1 billion). This landmark accomplishment underscores the bank’s growing influence and client trust in its financial services.

Kim Fournais, founder and CEO of Saxo Bank, expressed his gratitude to the clients, emphasizing that their trust has been pivotal in reaching this milestone. “Lowering our prices at the start of the year attracted, and keeps attracting, many new clients and assets. Additionally, our broad product range and offerings allow clients to diversify their portfolios, mitigating risks associated with market volatility, which is a key theme for our growing client base,” Fournais stated.

Saxo Bank‘s strategy of reducing prices has proven effective, drawing in a more extensive client base and substantial new assets. The bank’s vast array of investment products further enhances its appeal, enabling clients to spread their investments and better manage market risks.

Saxo Bank Surpasses DKK 800 Billion in Client Assets

Last year, S&P Global Ratings upgraded Saxo Bank’s long-term credit rating to ‘A—.’ This upgrade is a testament to the bank’s strengthened financial profile and improved capital buffers, which align with the requirements for systemically important financial institutions (SIFIs).

Financially, Saxo Bank reported revenues of DKK 2.239 billion (USD 320 million) for the second half of 2023, mirroring the first half’s revenue of DKK 2.242 billion. Despite consistent revenue, the bank faced a net loss of DKK 22 million (USD 3 million) in the latter half of the year, compared to a profit of DKK 282 million in the first half. This loss was primarily due to a write-down of software and a negative impact of DKK 94 million from the divestment of the Saxo Geely Tech Holding joint venture.

The bank’s financial performance highlights its growth potential and challenges in managing and optimizing its diverse portfolio of assets and ventures. However, the overall increase in client assets and the credit rating upgrade reflect a robust underlying strength and confidence in Saxo Bank’s long-term strategy and stability.

As Saxo Bank continues to expand its client base and enhance its product offerings, it remains committed to providing high-quality investment solutions and maintaining its clients’ trust. Exceeding DKK 800 billion in client assets marks a significant step in the bank’s journey towards sustained growth and excellence in the financial sector.

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