Saxo Bank Surpasses 1.5 Million Clients as AUM and Profitability Surge

Written by Sandra Leggero

Sandra Leggero has a background in financial markets, having spent more than 9 years in commodities trading for several European and Asian companies. She holds a degree in Economics from the University of Pavia and specializes in emerging markets.

, | Updated: December 2, 2025

Key Moments

Saxo Bank reported it now serves 1.5 million clients. This is up from more than 1.2 million last year.
Client assets reached DKK 800 billion ($116.1 billion) in May last year. The increase was supported by lower pricing, broad product choice, and diversification tools.
Net profit jumped to DKK 1,005 million in 2024 from DKK 260 million in 2023. The 287% increase was driven by more clients and higher assets under management.

Client Base Reaches New Milestone

Saxo Bank focuses on online trading, investment, and wealth management services. The bank announced that its client base has grown to 1.5 million. The latest figure underscores the continued shift toward self-directed investing, as individuals increasingly take a hands-on approach to managing their own portfolios.

The bank pointed out that this expansion builds on strong momentum from last year. In May last year, Saxo Bank reported that client assets climbed to DKK 800 billion ($116.1 billion). It was a record high for the Danish institution. At that point, the firm had more than 1.2 million clients.

Founder and CEO Kim Fournais linked the earlier rise in assets and clients to several factors, including reduced pricing, a wide selection of products, and tools that allow clients to diversify their holdings. Fournais also acknowledged the contribution of Saxo Bank’s staff and the “trust of its clients and partners”.

Focus on Technology and AI-Driven Personalization

Saxo Bank is upgrading its trading and investment platforms. The upgrades place particular emphasis on artificial intelligence. Fournais said the bank is investigating how AI can be embedded into its services to deliver a more personalized experience for users.

According to Fournais, “Our goal is to make it easier for clients to invest in multiple assets and diversify their portfolios.” The integration of AI is intended to support this objective by enhancing the way clients interact with Saxo Bank’s platforms and access its range of products.

Profit Growth Aligned With Rising AUM

The increase in clients coincides with a period of strong financial performance. In March, Saxo Bank reported a net profit of DKK 1,005 million for 2024, compared with DKK 260 million in 2023, representing an increase of 287%.

The bank attributed this growth to the expanding client base and the higher level of assets under management. Together, these trends have contributed to a more robust earnings profile.

Metric	2023	2024
Net profit (DKK million)	260	1,005
Net profit growth	287%

Professional and International Expansion in France and the UK

While its retail franchise remains central, Saxo Bank is also broadening its professional and cross-border business. In France, the firm introduced PartnerConnect, a digital wealth management platform aimed at independent asset managers and financial advisers.

PartnerConnect is designed as a single system supporting several functions, including portfolio management, digital onboarding, automated back-office processes, and client reporting. The platform also enables end-clients to complete onboarding entirely online.

Through a licensed Danish bank subsidiary that acts as broker and custodian, PartnerConnect users gain access to more than 70,000 cash and margin products.

UK Initiatives and Changing Client Demographics

In the UK market, Saxo has joined the Platforms Association, an industry body representing investment platform providers across Britain and Europe. The association was formed in September 2024 to provide a unified voice for platforms on regulatory and policy issues.

At the same time, Saxo Bank has been scaling up its UK presence as the profile of new clients evolves. Younger investors and women now make up a growing share of its new customer base. Investors under 25 account for 15% of new registrations, while the proportion of female clients has risen to 18%.

These developments fit within Saxo Bank’s broader strategy of combining technology-led solutions with targeted regional expansion, aimed at serving a more diverse and increasingly active investor community.