Saxo Bank’s operating income increased 6% in 2011 to reach DKK 3.53 billion, compared to DKK 3.34 billion in 2010. The Bank continued to invest in developing the business which meant that staff costs and administrative expenses increased 12%. Thus, net profit was DKK 618 million, down 4% from the previous record year. EBITDA of DKK 1.16 billion increased 4% compared to 2010.
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/prne/saxobank/53784
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To view Multimedia News Release, go to http://www.multivu.com/players/English/55912-mediavantage
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Robert Lempka, previously CEO of ABN AMRO’s ‘marketindex’ and now Executive Chairman of new financial services player Gekko Global Markets has slammed the financial services industry saying “It has been clear for some time that many banks and other financial institutions have done little but think of themselves, they have lost touch with their customers and they are no longer trusted. At the same time the drive toward ever more stringent regulation will achieve little but drive more and more customers to finding self-directed means of investment”.
To view Multimedia News Release, go to http://www.multivu.com/mnr/56584-gekko-global-markets-financial-institutions
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