Saxo Bank’s Clients Hit a New Record of 874,000 in H1 2022

The Saxo Bank Group reported a net profit of DKK 302 million for the first six months of 2022, compared to DKK 512 million for the same period last year. Total income for the Saxo Bank Group amounted to DKK 2,145 million for the first six months of 2022 compared to DKK 2,435 million for the same period last year.

Despite a decrease in trading and market activity, the net inflow of new clients continued in the first half of the year, which brought the total number of clients to 874,000 as of 30 June 2022, which is up from 790,000 at the same point last year. The total client assets still decreased to DKK 591 billion compared to DKK 595 billion last year, mainly driven by the decline in the equity market but partly offset by positive net funding from clients.

H1 2022 key financial figures at a glance (H1 2021)

• ​Total income: DKK 2,145 million (DKK 2,435 million H1 2021)

• Net profit: DKK 302 million (DKK 512 million H1 2021)

• Total client assets: DKK 591 billion (DKK 595 billion as of 30 June 2021)

• ​Total equity: DKK 7,021 million (DKK 7,156 million as of 30 June 2021)

Commenting on the results, Kim Fournais, CEO and Founder of Saxo Bank, said:"The results are not satisfactory and affected by difficult market conditions during the first half of 2022. Despite volatility in financial markets, trading activity was lower than the same period last year. That said, we see it as a testament to the strength of our platforms that we have continued the growth in number of new trading clients, where we have reached a fresh record of 874.000 clients as of 30 June."