Saxo Bank Revenues Spike Higher as Company Returns to Profit in 2016

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 provider, Saxo Bank has reported its full year 2016 results across its entire business segment and operations – the figures show a strong performance across the board as the group saw several key metrics rebound sharply from the previous year, per a company filing.

2016 shaped up to be an upbeat year for Saxo Bank – the group saw its financials also improve on a year-over-year basis, having been devoid of any major market calamity such as the Swiss National Banking (SNB) crisis in 2015. Looking at its full year results, Saxo’s operating income climbed to $420.0 million (DKK 2.9 billion) in 2016, up from just $300.0 million (DKK 2.1 billion) in 2015, or higher by 31.1 percent year-over-year.

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Profits Rebound Sharply

The group’s EBITDA profit also soared to $122.5 million (DKK 845 million) in 2016, which compared to a loss of -$15.9 million (DKK 109.4 million) in 2015. On an adjusted basis, Saxo Bank’s EBITDA yielded a figure of $138.3 million (DKK 954.5 million) in 2016, besting a previous reading of $125.3 million (DKK 864.7 million) in 2015 or 10.4 percent higher year-over-year.

In terms of its net profit, Saxo Bank disclosed a reading of $43.8 million (DKK 302.4 million) in 2016, which completely pared a loss of $93.5 million (DKK 645 million) in 2015.

Saxo’s clients' collateral deposits also secured its strongest figure yet, climbing to $13.4 billion (DKK 92.3 billion) in 2016, compared to just $11.2 billion (DKK 77.6 billion) in 2015, up 18.9 percent year-over-year. Total equity also justified a growth of 7.7 percent year-over-year to $608.4 billion (DKK 4.2 billion), relative to just $564.9 billion (DKK 3.9 billion) in 2015.

According to Kim Fournais, CEO and co-founder of Saxo Bank, in a statement on the year-end financials: “We are satisfied with the result for 2016 which reflects our commitment to democratize trading and investment to enable our clients to take part in global capital markets. We expect to grow the business further in 2017.”

“Our investments in technology and products in 2016 complement our existing strong offering and allow us to cater to new client 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.”