Saxo Bank today (3 March) posted record 2024 results of more than DKK 1bn in net profit "achieving the best results in the company's history".

The group reported a net profit of DKK 1,005m for 2024, compared to a net profit of DKK 260 million for 2023, corresponding to an increase of 287%. The adjusted net profit for 2024 ended at DKK 1,074m.

Saxo Bank cited that in early 2024 it implemented favourable reduced pricing for clients as part of its new global pricing strategy.

This reduction was part of the ongoing commitment to improve 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, it said.

By meeting the clients’ 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 DKK 853bn .

2024 key figures at a glance (2023) were as follows:

• Total income: DKK 4,670m (DKK 4,481m)
• Net profit: DKK 1,005m (DKK 260m)
• Adjusted net profit: DKK 1,074m (DKK 653m)
• Total equity: DKK 6,254m  (DKK 6,366m)
• Total client assets: DKK 853bn (DKK 745bn)
• Total number of clients: 1,286,000 (1,159,000)
• Capital ratio: 29% (32%)

Kim Fournais, CEO and founder of Saxo Bank, said: “I am very proud to report that 2024 was the best financial year in Saxo Bank’s history. This is clearly 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.

"With almost 1.3 million clients and client assets reaching an impressive DKK 853 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."

She continued: "The result is naturally also a large testament to the collective efforts of our employees who have driven Saxo Bank's performance and achievements this year.

"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.

"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.”