The Saxo Bank Group announced today its financial results for 2024, achieving the best results in the group’s history. The group reported a net profit of $146 million for 2024, compared to a net profit of $38 million for 2023, corresponding to an increase of 287 percent. The adjusted net profit for 2024 ended at $156 million.
“The progress underscores our steadfast commitment to creating value for all our stakeholders and strengthening our foundation for sustainable growth. With almost 1.3 million clients and client assets reaching an impressive $118 billion, these milestones showcase the trust and confidence placed in Saxo Bank,” stated Kim Fournais, CEO and Founder of Saxo Bank.
Saxo Bank hits all-time high client assets at $118 billion
In early 2024, Saxo Bank implemented favorable reduced pricing for clients as part of its new global pricing strategy. This reduction is part of the ongoing commitment to improving the value offered to clients and is closely linked to the ability to provide cost-effective solutions alongside the bank’s award-winning platforms, products and services.
By meeting client needs and becoming a price leader across many markets, Saxo Bank experienced sustained growth and reached a record of almost 1.3 million clients by the end of 2024, with all-time high client assets of $118 billion.
The bank also reported an increase in total income to $677 million in 2024, up from $650 million in 2023. Saxo Bank also revealed that its total equity hit $868 million.
“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,” added Fournais.
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Key initiatives driving growth
In 2024, Saxo Bank welcomed several new initiatives to make it attractive to even more people. A few highlights were the introduction of more competitive prices across products and the launch of the automated monthly investing account known as AutoInvest. Saxo Bank also introduced the Investor platforms to more markets, enabling more curious people to get invested in the world.
“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. 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, cyber security and risk management. This will remain a core priority as well,” added Fournais.
