Saxo Bank has reported that its 2007 profits before tax rose 78% over 2006 to €49 million ($75 million). “This year, we witnessed significant achievements in the continued effort to be a truly global bank, servicing clients and partners with a broad product offering through very volatile markets,” says Kim Fournais, Saxo’s co-founder and joint chief executive.
Lars Seier Christensen, the bank’s other CEO, adds: “In what was a very difficult year for the markets, we are delighted to see evidence that our ongoing support, technical innovation and commitment to clients has translated into increased client activity and such a significant increase in operating profits.”