Denmark’s financial services company and forex broker Saxo Bank bragged with reaching a “record high” client collateral deposits exceeding DKK 100 billion (nearly $15 billion). According to Saxo Bank’s data, client collateral deposits nearly doubled from 2013.
Another milestone reported by the brokerage were the record 490 000 client trades on November 9, 2016 – the day after the US presidential election.
“First and foremost we would like to thank both our direct clients and white label clients for their trust in Saxo Bank and will continue to respond to their confidence in us with service and commitment”, Claus Nielsen, head of markets at Saxo Bank, “Alongside the onboarding of new clients, the increase in collateral deposits reaffirms the strength of our multi-asset offering and represents early evidence of Saxo Bank continuing its growth trajectory in 2017.”
According to the company statement, its is strong with a Common Equity Tier 1 ratio of 14.9 per cent, a Tier 1 capital ratio of 17.1 per cent and a total capital ratio of 19.5 per cent. The Common Equity Tier 1 buffer was DKK1.0 billion, corresponding to 6.4 per cent of the risk exposure amounts.
Earlier this year Saxo Bank released its financial report for 2016, which revealed that the company has turned into a net profit of DKK 302.4 million in 2016 from a net loss of DKK 644.6 million in 2015.