Saxo Bank’s Strong 2024 Performance Breaks Records

Saxo Bank’s strong 2024 performance concluded the year on a high note, demonstrating steady financial growth in the latter half despite earlier challenges. The company reported a slight 1% increase in total income, reaching DKK 2,352 million (USD 336 million) in the second half of the year. 

This performance reflects a turnaround from the first half of 2024 when both revenue and profits had initially declined. Saxo Bank recorded a net profit of DKK 541 million (USD 77 million) during the second half of the year, marking its most profitable six-month period in over a decade. Unlike many of its competitors in the CFD brokerage sector, Saxo Bank has maintained relatively stable financial results over the past four years, avoiding the sharp fluctuations that often accompany market volatility. 

For the full year, Saxo Bank posted record figures, with total income reaching DKK 4,670 million (USD 667 million) and net profit hitting DKK 1,005 million (USD 144 million). The bank’s financial performance coincided with significant corporate restructuring, including a strategic review led by Goldman Sachs on behalf of major stakeholders, China’s Geely Group, and Finland’s Mandatum. While the process remains ongoing, Saxo Bank has already sold its Australian operations and shut down its Hong Kong office in late 2024.

Commenting on the results, CEO and founder Kim Fournais stated, “I am very proud to report that 2024 was the best financial year in Saxo Bank’s history. This is a very satisfactory result for us. The progress underscores our steadfast commitment to creating value for all our stakeholders and strengthening our foundation for sustainable growth.”

Saxo Bank’s Strong 2024 Performance Breaks Records

He further emphasized the company’s client growth and market reach, noting, “With almost 1.3 million clients and client assets reaching an impressive USD 118 billion, these milestones showcase the trust and confidence placed in Saxo Bank. Our comprehensive trading and investment platforms have provided robust tools and resources, enabling our clients and partners to navigate the markets efficiently and build more resilient, diversified portfolios.”

Fournais highlighted the company’s new initiatives, stating, “In 2024, we welcomed several new initiatives to make Saxo Bank attractive for even more people. A few highlights are the introduction of more competitive prices across products and the launch of our automated monthly investing account known as AutoInvest. We also introduced our Investor platforms to more markets, enabling more curious people to get invested in the world.” Looking ahead, Saxo Bank aims to expand its client base, enhance its product and platform offerings, and reinforce its presence in core markets.

Fournais reiterated, “Moving forward, our strategic focus remains unchanged. We continue to focus on growing our number of clients and client assets, and on enhancing the product and platform offerings to the benefit of our clients while focusing on our core markets.”

He also stressed the company’s commitment to security and compliance, stating, “In our commitment to protecting our clients and upholding the integrity of our business, Saxo Bank has continued to make significant investments and improvements in compliance, anti-money laundering, cybersecurity, and risk management. This will remain a core priority as well.”

Getting to Know the Stock Broker 

• Saxo Bank provides a premier multi-asset trading platform. 
• The platform offers over 70,000 tradable instruments, including forex, stocks, and bonds, and features exceptional research capabilities. 
• Also, traders benefit from an extensive toolkit and premium features. 
• Saxo Bank delivers a comprehensive and immersive trading experience. 

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