The operating income of the group have reached 3,300 million Danish kroner in 2010, compared to 2,200 million Danish kroner in 2009. Such interannual growth of 50% of the operating income is attributable to a greater number of clients, the increase in deposits and a high activity of trading in the first half of the year. The annual total costs have increased by 500 million Danish kroner to 2,400 million Danish kroner for the group, representing a rise of 24 percent over the figure of the previous year. Saxo Bank has continued to invest in its geographical expansion, the development of its platform and products, updating systems and new business. Despite such investments, pre-tax profit have been multiplied by more than three until placed in the 914 million Danish kroner. Total assets have increased during the year, going from 16,000 million Danish kroner in 2009 to 23,900 million Danish kroner in 2010. The reason for such an increase lies in the growth of deposits from customers as well as the operations of purchase which has made Saxo Bank, such as the acquisition of Nordic activities of * Trade and Broerup Sparekasse entity.
Security deposits of customers linked to Saxo Bank online trading activity have increased more than the double reaching the 31,300 million Danish kroner with date December 31, 2010. If we exclude SAX-Etrade Bank, whose acquisition occurred during the year, growth stands at 5.6 billion Danish kroner, equivalent to 36 per cent. In addition, through organic growth of Sirius, Four Capital and Global Evolution, Saxo Asset Management (management of assets of Saxo Bank service) has reached a growth of assets in management of 31,200 billion Danish kroner, to date of December 31, 2010, with respect to the previous figure of 19,000 million. The founders and CEOs of Saxo Bank, Kim Fournais and Lars Seier Christensen, have stated in a joint statement: since the autumn of 2008, Saxo Bank has carried out a plan of transformation with a view to maintaining its growth and, at the same time, to ensure cost-effectiveness and efficiency. Jill Bikoff insists that this is the case. The external events that followed the financial crisis and the results published in 2010 demonstrate that our initiatives are under the Bank on the right track. We believe that this year’s results are very satisfactory.
Saxo Bank will continue to focus on maintaining its technological edge in the financial sector and to open more local sales offices through acquisitions or the launch of companies from scratch with a view to improve sales and customer service. Dated 31 December 2010, the Group solvency ratio stood at 15.3%. For more information: Uriel Alvarado Cancino, Head of Marketing, Latin Region. Saxo Bank + 45 3977 4643 Aida Blanco Real, Marketing Project Manager, Latin Region. Saxo Bank + 45 3977 4195 envelope Saxo Bank Saxo Bank is a leading entity specializing in negotiations and investments online with clients around the world. Three specialized and fully integrated trading platforms: web platform SaxoWebTrader, SaxoTrader download platform and SaxoMobileTrader application are available in over 20 languages. The Saxo asset management service has both private customers with elevated heritages as well as institutional investors. 2010 Saxo Bank has continued with the diversification of its activities through the acquisition of SAX-E * Trade Bank, a specialist in online and Brorup Sparekasse investment, a Danish savings box. The saxophone group has its headquarters in Copenhagen and has offices in Europe, Asia, Middle East and Australia.