Saxo Bank sees positive H1 2018 results 16 August 2018Copenhagen Reporter: Maddie Saghir
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Saxo Bank Group reported a positive net profit of DKK (Danish krone) 150 million for H1 2018.
Some of the results from the report found that operating income for the Group reached DKK 1.5 billion, which highlighted a decrease of 0.3 percent compared to H1 2017.
Meanwhile, client collateral deposits continued to rise to DKK 110.4 billion, which represented an increase of 7 percent compared to the same period last year.
Saxo Bank Group continued to strengthen its capital position with the total capital ratio for the Group reaching 27.6 percent as of 30 June this year, which compared to 22.7 percent at the end of last year.
According to Saxo Bank, operating income reached DKK 1,506.4 million compared to DKK 1,557.6 million for H1 last year.
Additionally, profit before tax reached DKK 209.4 million for H1 last year compared to 312.2 million for the same period last year.
Saxo Bank Group also reported that clients’ collateral deposits reached DKK 110.4 billion this year, which highlighted an increase as last year the Group saw DKK 103.6 billion for H1.
Commenting on the results, Kim Fournais, CEO and co-founder of Saxo Bank, said: “The results reflect the low levels of volatility across financial markets that have marked the first half of the year.”
“Another contributing factor is the introduction of a new and more transparent pricing structure that lowers prices significantly across asset classes in several key markets.”
“Despite an immediate impact on income, it has resulted in an increase in new trading clients and reaffirms our long-term growth strategy of competing on product, platform, price and service.”
Fournais continued: “We continue to develop and invest in our product offering and technology to improve the Saxo experience for traders, investors, and partners.”
“The launch of SaxoTraderPRO brings a variety of customisable trading tools to active traders and institutional clients. Catering to the investor segment, we have added mutual funds as a new asset class on our platform which now facilitates access to more than 35,000 tradable instruments.”
Fournais concluded: “For the rest of the year, we remain dedicated to continuously improving our products, platforms and service and helping clients and partners succeed.“
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