Saxo Bank Profits and Revenues Move Higher in First Half of 2016
- Saxo Bank managed to see a strong performance in every key figure in H1 2016, reflected by stronger profits YoY.
Danish Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term broker Saxo Bank has reported its statistics and financial figures for the period ending June 30, 2016 (H1 2016), which were highlighted by a strong growth across the board relative to the year prior. It is worth noting that the company's results in the first half of 2015 have been substantially affected by the SNB crisis, when the company lost close to $100 million.
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The group’s net profit rose to ($23.7 million) DKK 158.2 million during H1 2016, rebounding sharply from -$72.7 million (DKK -484.6 million) in H1 2015. The primary culprit for the rise has been the absence of any SNB-caliber event, which really weighed down the broker’s profits last year.
In addition, Saxo Bank’s client collateral deposits climbed to a record of $12.3 billion (DKK 82.0 billion) in H1 2016, up 7.9% YoY from $11.4 billion (DKK 76.0 billion) in H1 2015. The group’s operating income also registered a staunch ascension, jumping to $225.1 million (DKK 1.5 billion) in H1 2016, vs. just $112.8 million (DKK 751.5) million in H1 2015, or 99.6% YoY.
Another area that Saxo Bank saw a strong performance was across its EBITDA – during H1 2016, the group yielded an EBITDA of $64.4 million (DKK 429.1 million), relative to $44.6 million (DKK -297.0 million) in H1 2015.
Echoing the group’s strength was its capital base for the period in H1 2016, yielding figures for common Equity Tier 1 ratio of 16.0% (14.8% from December 2015), Tier 1 capital ratio of 18.5% (17.4% from December 2015), and Total capital ratio at 21.5% (20.7% from December 2015).
Kim Fournais
According to Kim Fournais, Chief Executive Officer (CEO) and co-founder of Saxo Bank, in a recent statement on the figures: “The positive result for first half of the year is testament to our unwavering commitment to innovation and technology to enable our clients to meet their investment and trading needs.”
“I strongly believe that we have the foundation for even stronger growth going forward, as recent product launches complement our existing strong offering and allow us to cater to new clients segments, such as the launch of the market’s first fully digital bond trading solution and SaxoSelect, our digital and automated investment service, aimed at clients looking for a discretionary way of participating in global financial markets,” he added.
Danish Multi-Asset Multi-Asset Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Composed of varying asset classes, multi-asset is a blanket designation combining different classes such bonds, equities, cash equivalents, fixed income, and alternative investments.When compared to traditional balanced funds, multi-asset solutions differ because they target specific investment outcomes. This includes outcomes such as return above inflation as opposed to gauging performance against standardized benchmarks.Given the composition of multi-asset classes, they need to be dynamically Read this Term broker Saxo Bank has reported its statistics and financial figures for the period ending June 30, 2016 (H1 2016), which were highlighted by a strong growth across the board relative to the year prior. It is worth noting that the company's results in the first half of 2015 have been substantially affected by the SNB crisis, when the company lost close to $100 million.
Take the lead from today’s leaders. FM London Summit, 14-15 November, 2016. Register here!
The group’s net profit rose to ($23.7 million) DKK 158.2 million during H1 2016, rebounding sharply from -$72.7 million (DKK -484.6 million) in H1 2015. The primary culprit for the rise has been the absence of any SNB-caliber event, which really weighed down the broker’s profits last year.
In addition, Saxo Bank’s client collateral deposits climbed to a record of $12.3 billion (DKK 82.0 billion) in H1 2016, up 7.9% YoY from $11.4 billion (DKK 76.0 billion) in H1 2015. The group’s operating income also registered a staunch ascension, jumping to $225.1 million (DKK 1.5 billion) in H1 2016, vs. just $112.8 million (DKK 751.5) million in H1 2015, or 99.6% YoY.
Another area that Saxo Bank saw a strong performance was across its EBITDA – during H1 2016, the group yielded an EBITDA of $64.4 million (DKK 429.1 million), relative to $44.6 million (DKK -297.0 million) in H1 2015.
Echoing the group’s strength was its capital base for the period in H1 2016, yielding figures for common Equity Tier 1 ratio of 16.0% (14.8% from December 2015), Tier 1 capital ratio of 18.5% (17.4% from December 2015), and Total capital ratio at 21.5% (20.7% from December 2015).
Kim Fournais
According to Kim Fournais, Chief Executive Officer (CEO) and co-founder of Saxo Bank, in a recent statement on the figures: “The positive result for first half of the year is testament to our unwavering commitment to innovation and technology to enable our clients to meet their investment and trading needs.”
“I strongly believe that we have the foundation for even stronger growth going forward, as recent product launches complement our existing strong offering and allow us to cater to new clients segments, such as the launch of the market’s first fully digital bond trading solution and SaxoSelect, our digital and automated investment service, aimed at clients looking for a discretionary way of participating in global financial markets,” he added.