One of the biggest companies in the online trading industry in Europe, Danish multi-asset brokerage Saxo Bank, has just reported on the outcome of calendar year 2017. The firm has posted an increase in operating income to about €402 million, a figure which is only marginally higher than a year ago.
Looking at net profits, however, the company is posting a material increase of about 33 percent to €53.9 million. The company has managed to increase its margins amid increasing client numbers in both its retail and institutional segments.
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Commenting on the news, the founder and CEO of Saxo Bank, Kim Fournais, said: “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.”
“The results confirm that Saxo Bank is on the right path and we will continue to prioritize 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,” Mr. Fournais added.
Client collateral deposits at Saxo Bank continued to rise, reaching €13.9 billion as of the end of last year. The capital position of the group strengthened, reaching 22.7 percent as of the end of 2017 compared to 19.5 percent at the end of 2016.
Saxo Bank’s EBITDA totaled €125 million, up from €113.5 million in 2016. The broker’s total equity was €627 million throughout 2017.