Saxo Bank Revenue Decline Expected in 2025

Saxo Bank Revenue Decline Expected in 2025 as restructuring impacts markets, client offboarding, and rising operational costs. Saxo Bank expects a downturn in revenue for 2025 following its decision to revamp its distribution model and reduce its market reach, which led to the offboarding of existing clients in 2024. However, in the Outlook section of its 212-page annual report, the company emphasized that the restructuring has allowed it to become “more focused on future growth.”

Saxo Bank Revenue Decline Amid Restructuring

The online trading platform has scaled back the number of countries from which it accepts clients. Additionally, it has eliminated “certain complex products and services” to simplify its operations and enhance scalability.

“These actions are ongoing, and we aim to complete them fully during 2025,” Saxo stated.

Saxo shut down its offices in Shanghai and Hong Kong as part of its restructuring efforts in the Asia-Pacific region. The company also divested a majority stake in its Australian operations. Moreover, Saxo recorded restructuring costs of DKK 69 million, affecting staff expenses and administrative costs (DKK 75 million), along with tax expenses of DKK 6 million.

The online trading platform underscored that it anticipates higher operational costs and additional marketing investments to drive client growth. The Danish firm now projects its net profit for 2025 to be between DKK 950 million and DKK 1,100 million.

Saxo Bank Record Profits

The outlook follows a record-breaking 2024, in which Saxo’s net profit surged by 287 percent to €135 million, up from €35 million the previous year. The company’s adjusted net profit climbed to €144 million, making it the most successful year in its history.

This strong performance was driven by Saxo Bank’s introduction of a global pricing strategy in early 2024, which provided clients with more competitive rates. The move appears to have delivered significant results.

Additionally, Saxo’s client base expanded to nearly 1.3 million by the end of 2024, up from 1.16 million a year earlier. Client assets under management also reached a record €114 billion, marking a 14 percent increase from €100 billion the previous year.

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