Saxo Bank & BinckBank Merger Confirmed: Slated to Take Effect!

Saxo Bank A/S has officially confirmed the upcoming legal merger with BinckBank N.V., slated to take effect on 1 July 2024. This merger represents the culmination of Saxo Bank’s acquisition of BinckBank, which it initially announced in August 2019. Since the acquisition, both entities have been actively integrating their operations, enhancing their technological capabilities, and expanding their product offerings.

Following the merger, Saxo Bank intends to consolidate its Dutch, Belgian, and French branches under its Danish banking license. The Dutch Central Bank approved this transition by issuing a “declaration of no objection” on 4 April 2024, facilitating the legal change of counterparty to Saxo Bank A/S.

Saxo Bank and BinckBank Merger Confirmed

Saxo Bank A/S maintains an A- investment grade rating from S&P, and the DFSA has designated it as a Systemically Important Financial Institution (SIFI). This recognition underscores Saxo Bank’s pivotal role in the financial system, subjecting it to heightened regulatory scrutiny and increased capital requirements.

BinckBank’s integration into Saxo Bank is expected to synergize its strengths, enhancing the Saxo Bank experience for clients. This strategic alignment aims to deliver seamless continuity and improved operational efficiencies to clients across their combined markets.

Since the acquisition announcement in 2019, Saxo Bank and BinckBank have worked collaboratively to leverage their strengths, ensuring a smooth integration process and laying the groundwork for future growth opportunities. With the merger scheduled to finalize on 1 July 2024, both institutions are ready to fulfill their commitment to innovation and client-centric financial solutions in the European market and beyond.

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