Saxo bank released its interim results this week. The bank may have had a troubling six months in its relationship with the Danish FSA (FX comment: Was regulator pressured to act on Saxo by press reports?) but the business itself is booming.
Pre-tax profit was reported at DKK727 million ($126 million) for the half year and, according to the report, exceeded all previous full-year results in Saxo’s history. Operating income more than doubled to almost DKK2 billion ($344 million) and the increase was reportedly “mainly organic and driven by…business initiatives.
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