just now
May 26, 2023 - Saxo Bank has announced that it has reached a milestone of $100 billion in client assets. It took the Danish regulated bank 25 years to reach $20 billion, and less than 5 further years to increase assets 5-fold to exceed $100 billion.
In its press release, Saxo said that its “commitment to transparency and client-centricity sets it apart from its peers and as been a key driver in growing assets over the past year, as central banks have hiked interest rates across major markets. Unlike many other banks and brokers, Saxo Bank promptly passes on rate hikes to its clients, ensuring that they benefit from the increased interest rates automatically, and immediately. This proactive approach empowers clients to optimise their investment strategies while earning an attractive interest on uninvested cash, without any lock-ins or minimum holding periods. In turn, this enables Saxo Bank’s growing client base to respond to emerging opportunities in the markets with agility and confidence.”
Kim Fournais, Founder and CEO of Saxo Bank, commented on the new milestone for the business, "We are humbled and honoured by our clients' trust, which has propelled us to reach this historic milestone of surpassing USD 100 billion in client assets. This showcases our ability to support our growing number of clients and partners, navigate challenging markets, and deliver a robust investment experience and platforms tailored to our clients’ needs.
"When we look behind the trend, we can see that clients continuously trust us with a larger share of their wealth whether it’s benefiting from our attractive interest rates on deposits, asset management solutions, or leveraging our trading platforms to seize opportunities across global markets and asset classes.
"We remain fully dedicated to further investing in improving the client experience to empower our clients with the knowledge, resources, and guidance needed to thrive in today's challenging economic environment and work towards reaching their financial goals.”
Saxo Bank recently announced it had received a BBB rating with a positive outlook from S&P Global Ratings, according to the bank’s first-ever rating report.
In addition, Saxo Bank is currently in the process of being appointed a Systemically Important Financial Institution (SIFI) later this year by the Danish Financial Supervisory Authority (FSA). The SIFI designation is given to financial institutions that are considered critical to the functioning of the financial system.
