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Saxo Bank remains well capitalized despite losses

Listed on GEM

In accordance with the terms and conditions of the Notes clause 16, the Issuer hereby submits the following notification to the Holders of the Notes.

Further information on impact of the Swiss Franc move on 15 January, 2015.

As previously notified on 19 January, 2015, a number of Saxo Bank’s customers ended up with insufficient margin collateral to cover their losses on positions in the Swiss Franc. Saxo Bank is liaising with these clients to settle such unsecured amounts. Some customers will not be able to the settle the balance in full and the bank will incur losses in this respect.

Taking the estimated maximum loss into account the Total Capital of Saxo Bank A/S and Saxo Bank Group would be DKK 1.97 billion and DKK 2.15 billion respectively. The total Capital Requirement are DKK 1.46 billion and DKK 1.71 billion respectively and the CET 1 Capital Buffer would be DKK 0.41 billion and DKK 0.42 billion respectively. In comparison, the CET Capital Buffer was DKK 0.48 billion and DKK 0.44 Billion as of 30 June, 2014.

The CET1 Ratios are 11.9% and 10.7% for Saxo Bank A/S and Saxo Bank Group respectively and the Total Capital Ratios are 16.2% and 14.3%.

Saxo Bank Group estimates the maximum loss that the Bank can incur in relation to the sudden material increase in the price of Swiss Franc on 15 January, 2015, to be DKK 0.7 billion equal to USD 107m on a net basis.

As stated above, even in the unlikely event of suffering the maximum estimated loss then Saxo Bank would still more than fulfil its regulatory capital requirements.

Please see the official ISE statement:

ISE Statement of January 23, 2015: http://www.ise.ie/app/announcementDetails.aspx?ID=12225941

Media enquiries

Steffen Wegner Mortensen

+45 3977 6343 
press@saxobank.com

About Saxo Bank

Saxo Bank Group (Saxo) is a leading multi-asset trading and investment specialist, offering a complete set of trading and investment technologies, tools and strategies.

For almost 25 years, Saxo’s mission has been to enable individuals and institutions by facilitating their access to professional trading and investing through technology and expertise.

As a fully licensed and regulated bank, Saxo enables its private clients to trade multiple asset classes across global financial markets from one single margin account and across multiple devices. Additionally, Saxo provides institutional clients such as banks and brokers with multi-asset execution, prime brokerage services and trading technology.

Saxo’s award winning trading platforms are available in more than 20 languages and form the technology backbone of more than 100 financial institutions worldwide.

Founded in 1992 and headquartered in Copenhagen, Saxo employs more than 1500 people in financial centres around the world including London, Singapore, Paris, Zurich, Dubai and Tokyo.

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