Breaking: Saxo Bank Sells Retail Bank Unit for $60 Million

[kreslik.news]

Danish multi-asset brokerage Saxo Bank has parted ways with its retail banking unit operating in Denmark. The company announced this morning that it has sold its Saxo Privatbank subsidiary to Alm. Brand. The sale represents a full commitment of the company to the brokerage industry at a time when key regulatory changes in Europe are incoming.


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The deal is worth $60 million (DKK360 million), which Alm. Brand financed with equity. Saxo Privatbank has over 17,500 customers, consisting of about 15,000 private and about 2,500 ... (read more)