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Press Release

Saxo Bank announces 2019 results

  • Lower profit due to continued lower activity and higher investments
  • Record number of new clients and client assets
  • Strong capital position

Saxo Bank Group (“The Group”)  reported a net profit of DKK 40 million for 2019 compared to DKK 963 million for 2018 incl. extraordinary items. Operating income for the Group amounted to DKK 2,611 million in 2019 compared to DKK 2,786 million in 2018, corresponding to a decrease of 6%. BinckBank N.V. is included in the reporting from 1 August 2019.

Saxo Bank Group continued to have a strong capital position with the total capital ratio for the Group reaching 32.9 per cent as of the end of 2019

2019 key figures at a glance (2018)

  • Operating income: DKK 2,611 million (DKK 2,786 million)
  • EBITDA (operating profit): DKK 882 million (DKK 1,408 million) 
  • Net profit: DKK 40 million (DKK 963 million)
  • Total equity: DKK 7.1 billion (DKK 5.6 billion)
  • Total clients’ assets: DKK 375.5 billion (DKK 112.6 billion)
  • Total number of clients: 525,000 (178,439)
Commenting on the results, Kim Fournais, CEO and Founder, Saxo Bank, said:
  • The result for 2019 is affected by difficult market conditions during the year, with all-time low volatility across most financial markets and continued negative interest rates in many markets.  At the same time, the result is negatively impacted by significant price reductions across asset classes as well as continued record-high level of investments in better platforms, products and digital services for clients and partners.
  • While the result is not satisfactory, it is worth noting that we have welcomed a record number of new clients in 2019 and have a significant increase in client assets to more than DKK 375 billion.
  • 2019 was a significant year in Saxo Bank’s history as we welcomed BinckBank to the Group adding both many skilled and dedicated employees and a substantial number of clients and clients’ assets to the Group. Further, we have set up a joint venture with our shareholder Geely, to provide technology solutions to financial institutions such as banks and fintechs in the mainland Chinese market. We therefore have a very strong and unique position to continue to grow in our key markets and providing a world-class Saxo Experience to both new and existing clients.
  • We remain committed to our strategy and continue our investments in technology and digitalisation, while at the same time pursuing strong cost discipline.
  • In the beginning of 2020, volatility in financial markets has increased leading to higher activity among our clients and partners.
  • We present our annual result for 2019 at a difficult time for the global community and the global economy. The Corona virus continues to spread, significantly impacting the societies Saxo Bank is a part of. We naturally remain fully operational and we are taking every step necessary to continue to serve our clients and keep our employees healthy and safe.
  • Furthermore, we have decided to move forward payment to our vendors to help and support with liquidity in this difficult situation. Saxo Bank has a healthy capital and liquidity position, giving us the flexibility to support the societies we are a part of. We all depend on each other and we need to come together to do everything in our power to ensure we get through this defining moment in our shared history.

In August 2019, Saxo Bank completed the acquisition of BinckBank. The process of integrating BinckBank into the Saxo Group and technology infrastructure is underway with the aim of offering clients a better experience with better platforms, a multi-asset product set and additional services.

In December 2019, Saxo Bank and Geely Sweden Holdings AB, a subsidiary of Zhejiang Geely Holding Group Co. Ltd, announced an agreement to establish a technological joint venture to provide financial and regulatory technology solutions to financial institutions such as banks and fintechs in China.

The full report is available here:

Please reach out to

Saxo Bank is a leading Fintech specialist and global multi-asset facilitator of capital markets products and services. Saxo enables private clients to trade more than 35,000 instruments from one single margin account.

Additionally, Saxo provides institutional clients such as banks and fintechs with Open Banking solutions from multi-asset execution, prime brokerage services to trading technology. Founded in 1992, Saxo Bank has embraced Open Banking from the beginning and is focused on helping clients and partners through win-win partnerships and product innovation.

Since launching its first online trading platform in 1998, Saxo Bank works to empower everyone to navigate their financial future by opening up access to trading and investment. The Saxo Group’s client assets total more than 45 billion euros, and the Group employs more than 2100 people in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.

For more information, please visit

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15

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