Saxo client numbers rise 19% in 2021, profits increase less than 1%

Saxo Bank Group has released its annual financial records for 2021. The online trading and investment specialist registered a small increase in profits to DKK 755 million, compared to the previous year when it recorded DKK 750 million.

The total revenue for the last twelve months stood at DKK 4.53 billion, 4.7% up from 2020.

EBITDA for the year was DKK 1.62 billion, with almost no change. The total equity came in at DKK 7.2 billion, falling from DKK 7.4 billion.


The numbers of clients, however, reached a record high of 820,000, jumping 18.8% compared to last year’s 690,000.

Kim Fournais, CEO and founder of Saxo Bank, commented:

The financial result for 2021 was satisfactory as we earned DKK 755 million in net profit from a revenue of DKK 4.5 billion.  We welcomed a record high number of 263,000 new clients, which brings the total to 820,000 clients who have entrusted us with DKK 640 billion of their assets.

Saxo Bank

In 2021, total client assets came in at DKK 640 billion from DKK 478 billion recorded the previous year.

Fournais continued:

The year 2021 saw both growth and consolidation for the Saxo Bank Group. In Q1, we saw a record-high inflow of clients and client assets. In subsequent quarters, growth rates stayed positive, albeit at a more moderate level.

Additionally, Saxo completed the acquisition of BinckBank, adding 400,000 direct clients from Mid-Europe and expanding the company’s footprint in the region.

Saxo CEO added:

Completing the BinckBank migration will be a major milestone and will release more resources to focus on further scaling and growing our business and optimising our processes and technology.

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