Saxo Bank's Total Client Assets Exceeds DKK 700Bn for H1 2023

Saxo Bank, the Copenhagen-based online trading and investment specialist, has published its financial results for the first six months of 2023 (H1 2023), recording the total income of DKK 2,242 million, 4.5% higher than DKK 2,145 million in H1 2022.

More specifically, operating income reached DKK 520 million, an increase of 34.0% compared to DKK 388 million in the same period of last year.

Net profit in H1 2023 was DKK 282 million, decreasing 6.6% compared to DKK 302 million in H1 2022. While the adjusted net profit came in at DKK 376 million, increasing by 24.5% compared to DKK 302 million in H1 2022.

Total client assets rose by 22.0% from DKK 591 billion in H1 2022 to DKK 721 billion.

Total capital ratio was 31.9 %, while the metric in last H1 was 28.1%.

The Bank reached a historic milestone of 1 million end clients and DKK 721 billion in client assets, positively impacted by net funding of cash and securities of DKK 79 billion in the first half of 2023.

Kim Fournais, CEO and Founder of Saxo Bank, commented: "While this year was marked by challenging market conditions and continued geopolitical tensions, our half-year results demonstrated resilience and adaptability in the face of changing market dynamics. One constant, however, has been Saxo Bank's unwavering commitment to support our clients and to continuously improving our products, platforms, and services. We are proud to announce the significant milestone of 1 million end clients that now trust us with more than DKK 700 billion in client assets."

"Of particular significance is Saxo Bank's recent SIFI (Systemically Important Financial Institution) designation​. We were pleased to receive a BBB rating with a positive outlook from S&P Global Ratings, which highlights our strong capital position and business model, cautious approach to risk management, and ambitious growth strategy. It's a reaffirmation that an increasing number of clients and partners trust us with their assets and savings – and we will continue to do our very best to honour that trust," Fournais added.