Saxo Bank SNB Net Loss $108 mln, 2015 Operating Costs Rise 14%

[kreslik.news]

Saxo Bank Group has reported a net loss of $98 million (DKK 645 million) for 2015, compared to a net profit of $58 million (DKK 381 million) for 2014. The company’s net loss from the Swiss franc event totaled $108 million (DKK 700 million).

Excluding the impact from the Swiss franc black swan, Saxo Bank made about $10 million in 2015. The figure is more than five times lower than in 2014. Total assets of the company decreased by 7 per cent when compared to the previous year, amounting to $5.45 billion (DKK 36 billion). The annual report of the company ... (read more)