Copenhagen-headquartered Saxo Bank has just announced its financial results for 2024, achieving the best results in the company's history.

Saxo Bank reported a net profit this week of DKK1,005 million ($141 million) for 2024, up from DKK260 million in 2023, resulting in an increase of 287 per cent. The adjusted net profit for 2024 ended at DKK1,074 million, the firm said in a statement.

In early 2024, Saxo Bank said it implemented favourable reduced pricing for clients as part of its new global pricing strategy. This reduction, which is part of the ongoing commitment to improve the value offered to clients, is linked to its ability to provide cost-effective solutions alongside the bank's award-winning platforms, products, and services. 

By meeting clients’ needs and becoming a price-leader across many markets, Saxo Bank said it experienced sustained growth and reached a record of almost 1.3 million clients by the end of 2024, with client assets of DKK853 billion, compared with DKK745 billion the previous year.

“I am very proud to report that 2024 was the best financial year in Saxo Bank’s history,” Kim Fournais, CEO and founder of Saxo Bank, said. “This is clearly a very satisfactory result for us. The progress underscores our steadfast commitment to creating value for all our stakeholders and strengthening our foundation for sustainable growth.” 

“In 2024, we welcomed several new initiatives to make Saxo Bank attractive for even more people. A few highlights are the introduction of more competitive prices across products and the launch of our automated monthly investing account known as AutoInvest,” she continued. “We also introduced our investor platforms to more markets, enabling more curious people to get invested in the world.”