PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Saxo Bank Announces Half Year Results

Saxo Bank has announced its half year results, reporting an increase of DKK 551 million to its net profit.

2010-08-20
LONDON, ENGLAND, August 20, 2010 (Press-News.org) Saxo Bank has announced its half year results, with the trading specialist reporting pre-tax profits of DKK 729 million and a net profit of DKK 551 million. The results for the first half of 2010 also revealed the company's operating income reached DKK 1,992 million and an EBITDA of DKK 881 million. The solvency ratio for Saxo Bank Group was 19.2% (18.9%).

The results achieved in the first six months of 2010 are rooted in increased market activity as well as decisions and actions taken since shortly before the onset of the financial crisis in the autumn of 2008. Since then The Bank has:
- increased efficiency through IT investments, work process rationalisation, outsourcing and business focus;
- reduced its headcount by approximately 40% from the peak level in September 2008
- completed 10 acquisitions, all of which have lived up to expectations
- launched significant new products within FX, Equities and Commodities
- expanded the business to include asset management
- increased its geographical footprint with new offices in nine countries
- increased its deposits and funds under management significantly
- established IT development centres in India and Ukraine in addition to its Danish IT centre.

During the first six months of 2010, Saxo Bank saw positive developments in key drivers such as the number of clients, number of trades and trading volumes.

The Bank's clients' collateral deposits increased by approximately DKK 11 billion to DKK 26.6 billion including clients' collateral deposits from the Nordic activities of E*Trade, which Saxo Bank acquired in April 2010. Saxo Asset Management, Saxo Bank's legally segregated asset management division increased its assets under management from DKK 21 billion to 28.8 billion including DKK 4.2 billion from Saxo Bank A/S during the first six months of 2010.

After inclusion of the profit related to the first six months of 2010, the solvency ratio of the Saxo Bank Group was 19.2%. Saxo Bank has assessed that the internal capital requirement of the Group is 8% of risk weighted items. The capital base buffer as of 30 June 2010 was more than DKK 1.1 billion.

About Saxo Bank
Saxo Bank is an online trading and investment specialist. The Bank enables clients to trade Forex, CFDs, Stocks, Equities, Futures, Options and other derivatives via three specialised and integrated trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoMobileTrader, a mobile phone trading platform. The platforms are available in over 20 languages and available directly through Saxo Bank or through one of the Bank's institutional clients. White label is a significant business area for Saxo Bank, and involves customising and branding of the Bank's online trading platform for other financial institutions and brokers. Saxo Bank has more than 120 white label clients and boasts thousands of retail clients in over 160 countries. Saxo Bank is headquartered in Copenhagen with offices in Australia, the Czech Republic, France, Greece, Italy, Japan, the Netherlands, Singapore, Spain, Switzerland, UK, and the United Arab Emirates.

Website: http://www.saxobank.com/


ELSE PRESS RELEASES FROM THIS DATE:

Displaysense Survey Reveals Weird and Wonderful Usage for Retail Displays

2010-08-20
Displaysense has revealed the results of a new survey that shows many of the unique ways customers utilise the company's products. Displaysense's recent survey was originally intended to be a standard survey to gauge the spread of their customers across the UK but it quickly became apparent that an entirely unexpected insight into their customers was to be gained. Coat hangers being used to create cheap digital aerials and divining rods, mannequins used as paintball targets, wire chrome shelving units as rabbit runs and clothes pegs altered to make extravagant bottle ...

Redspottedhanky Encourages Travellers to Hop on Trains for Advice

Redspottedhanky Encourages Travellers to Hop on Trains for Advice
2010-08-20
To mark the launch of redspottedhanky - a new online train ticket retailer that offers loyalty points on every rail journey - the company has released new research that reveals one in four train travellers has received rewarding advice from fellow train passengers on issues ranging from jobs to romance. One in five said that they had shunned traditional British reserve to offer advice to another passenger. Of those who had received rewarding advice, the top topics were holidays, relationships, tips on food and drink, money and jobs. The research shows strong generational ...

Thistle Glasgow Appoints Billy Campbell as Executive Chef

2010-08-20
Thistle Hotels has announced the appointment of Billy Campbell as Executive Chef for its centrally-located Glasgow property that has only recently benefited from a GBP1.2million refurbishment including the restoration of its striking Grand Ballroom; Scotland's largest. In this position, Campbell is responsible for leading the talented team to produce a standout, bespoke menu choice, as well as working closely with suppliers to ensure Thistle guests and delegates enjoy the highest quality produce available. His appointment is effective immediately. A charming Scot ...

Saxo Bank Joins SunGard as Co-Title Sponsor in 2011

2010-08-20
It has been announced that Saxobank, the trading and investment specialist, is to become a co-title sponsor with SunGard, one of the world's leading software and technology services companies. Following the announcement during the Tour de France that SunGard had agreed to become co-title sponsor for the next two years, Bjarne Riis, owner and manager of Riis Cycling A/S, revealed at a press conference in Copenhagen that Saxo Bank will be the other co-title sponsor in 2011. The Team will be called "Saxo Bank-SunGard Professional Cycling Team". Bjarne Riis said: "I am ...

Barclaycard Spending Index Shows July Year-on-Year Growth Up 9.9%

2010-08-20
Consumer spending on cards saw a near double digit increase in July compared to the same month last year, challenging concerns that consumer confidence has dipped.  According to the latest figures released by Barclaycard, traditional summer discounting by retailers appears to have enticed consumers back to the high street, with the amount spent on debit and credit card purchases, in-store and online, increasing by 9.9% in July compared to the same month last year.  Year-on-year figures have steadily increased since the start of 2010, with July representing the third ...

New Head Lice Treatment Will "Blow" Lice Away - Facility Introduced in Georgia By Headhunters Lice Removal Service!

New Head Lice Treatment Will Blow Lice Away - Facility Introduced in Georgia By Headhunters Lice Removal Service!
2010-08-20
A new weapon is available to demolish those resistant head lice that pass from child to child each year. The LouseBuster device is a revolutionary new way to kill head lice and their eggs without using pesticides or other chemicals. Clinical studies have shown that the LouseBuster device that uses only controlled heated air delivered by certified operators. Is a very safe, fast, and highly effective way to kill all stages of head lice - including lice eggs (nits). Headhunters L.R.S. is the first to introduce the Lousebuster device in Georgia that has been cleared by ...

Law Exe, LLC Adds Office Space in Miami to Support Solo Attorneys

2010-08-19
Law Exe, LLC will add additional office space on September 1, 2010 to offer unique new services to solo attorneys of furnished shared office space, mailbox rentals, shared receptionists and admin support. Law Exe is located in the heart of downtown Miami, on Flagler Street, walking distance from all the Courthouses and the Metro Mover. A prestigious address for solo attorneys to use as their own on their business cards that is not a P.O. Box number to add credibility to their business. Pleasant trained receptionists on site will answer their calls in their company name ...

Law Offices of Oksana Van Rooy has moved to a new Newport Beach location and expanded services to include immigration law.

2010-08-19
Law Offices of Oksana Van Rooy has opened a new office located at 5000 Birch St., Suite 3000, Newport Beach, CA 92660. The main phone number is 818-744-4955 and fax is 949-326-0075. The firm also operates a satellite office in Brentwood at 11601 Wilshire Blvd., Suite 500, Los Angeles, CA 90025. Law Offices of Oksana Van Rooy has been serving clients throughout Southern California since 2007. The attorney's practice focuses on family law, estate planning, corporate and business law, probate and immigration. Clients include many privately owned companies, corporate executives, ...

Simulation Software Specialist Lanner Group Announces Pan-American Expansion Plan: Appointment set to grow corporate and brand awareness across North and South America

2010-08-19
Lanner Group, the award winning simulation modeling and business process management software company continues to expand its footprint across the US by recently appointing a PR representative to its US division. British parent Lanner Group Ltd has hired California-based Alexandra Brooks & associates pr to coordinate public relations activities for the company's subsidiary located in Houston, Texas. Commenting on the appointment to promote the already exceptional reputation of Lanner Group and its leading brand WITNESS to American markets, Mandy Tague, Lanner Group's ...

Michael A. Horn MD Chicago: The Basics on Laser Hair Removal Featuring Michael A. Horn MD Chicago

2010-08-19
Michael A. Horn MD Chicago: The Basics on Laser Hair Removal Featuring Michael A. Horn MD Chicago Michael A. Horn MD Chicago has noticed that in the last decade or so laser hair removal has become one of the most popular methods of reducing unwanted body hair, with many men and women alike choosing laser procedures over waxing and other hair removal methods. Michael A. Horn MD Chicago points out that the first step in the process is to get a free consultation at Michael Horn Center for Cosmetic Surgery to identify which skin type you have and find out whether laser hair ...

LAST 30 PRESS RELEASES:

Scientists unlock secrets behind flowering of the king of fruits

Texas A&M researchers illuminate the mysteries of icy ocean worlds

Prosthetic material could help reduce infections from intravenous catheters

Can the heart heal itself? New study says it can

Microscopic discovery in cancer cells could have a big impact

Rice researchers take ‘significant leap forward’ with quantum simulation of molecular electron transfer

Breakthrough new material brings affordable, sustainable future within grasp

How everyday activities inside your home can generate energy

Inequality weakens local governance and public satisfaction, study finds

Uncovering key molecular factors behind malaria’s deadliest strain

UC Davis researchers help decode the cause of aggressive breast cancer in women of color

Researchers discovered replication hubs for human norovirus

SNU researchers develop the world’s most sensitive flexible strain sensor

Tiny, wireless antennas use light to monitor cellular communication

Neutrality has played a pivotal, but under-examined, role in international relations, new research shows

Study reveals right whales live 130 years — or more

Researchers reveal how human eyelashes promote water drainage

Pollinators most vulnerable to rising global temperatures are flies, study shows

DFG to fund eight new research units

Modern AI systems have achieved Turing's vision, but not exactly how he hoped

Quantum walk computing unlocks new potential in quantum science and technology

Construction materials and household items are a part of a long-term carbon sink called the “technosphere”

First demonstration of quantum teleportation over busy Internet cables

Disparities and gaps in breast cancer screening for women ages 40 to 49

US tobacco 21 policies and potential mortality reductions by state

AI-driven approach reveals hidden hazards of chemical mixtures in rivers

Older age linked to increased complications after breast reconstruction

ESA and NASA satellites deliver first joint picture of Greenland Ice Sheet melting

Early detection model for pancreatic necrosis improves patient outcomes

Poor vascular health accelerates brain ageing

[Press-News.org] Saxo Bank Announces Half Year Results
Saxo Bank has announced its half year results, reporting an increase of DKK 551 million to its net profit.