Saxo Bank Records Net Profit of DKK 711M in 2022

Saxo Bank Group, the online trading and investment specialist, has released its financial results for the full year 2022, reporting an overall drop on a yearly basis across all metrics.

The total income for the Group amounted to DKK 4,455 million in 2022, a slight decrease of 1.6% compared to DKK 4,527 million in 2021. Net profit came in at DKK 711 million, dropping 5.8% comparing to DKK 755 million in the prior year.

Total clients at 31 December 2022 were 876,000 with DKK 584,266 million in client assets, comparing to 820,000 clients with 640,426 million in the end of 2021. The intake of new trading clients decreased to 157,000 compared to 263,000 in 2021. Number of trades for the year reached 64 million, increasing 4.9% from 61 million in 2021.

"Having migrated more than 400,000 clients from BinckBank to Saxo in three years is a true success. We are now seeing increased client satisfaction in the Netherlands, Belgium and France as they get to know our platforms, products, services and prices better. That is win-win," said Kim Fournais, CEO and Founder of Saxo Bank.