saxo-bank-annual-report-2015

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NOTES – SAXO BANK A/S Note (DKK 1,000) 2015 2014 10 Receivables from credit institutions and central banks Demand deposits 612,230 1,265,653 Total receivables from credit institutions and central banks 612,230 1,265,653 All receivables are Receivables from credit institutions in 2015 and 2014. 11 Loans and advances at amortised cost Demand deposits: Trading clients 12,782 42,007 Lending clients 140 - Subsidiaries 25,643 33,477 Total loans and advances at amortised cost 38,565 75,484 Loans, advances and guarantees by sector and industry Finance and insurance 69 % 30 % Other business 16 % 43 % Total corporate sector 85 % 73 % Private clients 15 % 27 % Total loans and advances at amortised cost 100 % 100 % 12 Impairment allowance for loans, advances and guarantees Individual impairment allowance for loans, advances and guarantees Impairment allowance at 1 January 2,432 43,127 Impairment for the year 828 12,014 Reversals of impairment from previous years - (25,390) Amounts written off - (27,319) Individual impairment allowance for loans, advances and guarantees, end of period 3,260 2,432 13 Bonds at fair value Quoted on NASDAQ OMX Nordic 4,099,206 1,084,510 Quoted on other stock exchanges 12,707,560 14,027,257 Total bonds at fair value 16,806,766 15,111,767 124 · SAXO BANK · ANNUAL REPORT 2015
NOTES – SAXO BANK A/S Note (DKK 1,000) 14 Intangible assets 2015 Goodwill Software under development Software developed Software purchased Other Total Cost at 1 January 962,077 34,650 2,064,459 95,712 4,347 3,161,245 Additions - 229,023 - 5,622 - 234,646 Additions from internal development - (201,960) 201,960 - - - Disposals - - (49) (42) - (91) Exchange rate adjustments 59,295 - - (13) - 59,282 Cost at 31 December 1,021,372 61,714 2,266,370 101,279 4,347 3,455,082 Amortisation and impairment at 1 January (25,000) - (1,164,021) (72,111) (4,347) (1,265,479) Amortisation - - (335,434) (11,711) - (347,145) Impairment losses 1) (54,849) - (84,342) (149) - (139,340) Disposals - - 49 43 - 92 Exchange rate adjustments - - - 14 - 14 Amortisation and impairment at 31 December (79,849) - (1,583,748) (83,914) (4,347) (1,751,857) Carrying amount at 31 December 941,523 61,714 682,622 17,365 - 1,703,224 2014 Goodwill Software under development Software developed Software purchased Other Total Cost at 1 January 947,317 139,865 1,683,168 80,215 4,348 2,854,913 Additions 567 277,237 - 15,458 - 293,262 Additions from internal development - (382,451) 382,451 - - - Disposals - - (1,160) (63) - (1,223) Exchange rate adjustments 14,193 - - 102 - 14,295 Cost at 31 December 962,077 34,651 2,064,459 95,712 4,348 3,161,247 Amortisation and impairment at 1 January - - (856,206) (63,244) (4,348) (923,798) Amortisation - - (308,975) (8,817) - (317,792) Impairment losses 1) (25,000) - - - - (25,000) Disposals - - 1,160 63 - 1,223 Exchange rate adjustments - - - (113) - (113) Amortisation and impairment at 31 December (25,000) - (1,164,021) (72,111) (4,348) (1,265,480) Carrying amount at 31 December 937,077 34,651 900,438 23,601 - 1,895,767 1) For details of impairment losses, see note 19 Impairment test in the consolidated financial statements. SAXO BANK · ANNUAL REPORT 2015 · 125
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2015
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TRADING OPPORTUNITIES. ANYTIME, ANY
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4 · SAXO BANK · ANNUAL REPORT 201
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The continued rise in client’s co
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TAILORED PRICING - ONE SIZE DOES NO
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As of 31 December 2015, Saxo Bank e
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CRD IV and CRR is a single set of p
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#SAXOSTRATS - YOUR NEXT TRADE In 20
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FINANCIAL REVIEW Saxo Bank Group re
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of 2014 the corresponding ratios we
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OPERATIONAL REVIEW PRODUCT DEVELOPM
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Through its multi-asset offering, S
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SAXOTRADERGO - THE NEXT GENERATION
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THE BUSINESS OF SAXO BANK 26 · SAX
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WE PROVIDE LIQUIDITY VIA ... • 15
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ured as the expected one day loss f
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RISK FACTORS Saxo Bank Group is exp
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function is to optimise the trading
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HIGHLIGHTS 2015 JANUARY Saxo Bank r
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FINANCIAL STATEMENTS 38 · SAXO BAN
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INCOME STATEMENT - SAXO BANK GROUP
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STATEMENT OF FINANCIAL POSITION - S
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STATEMENT OF CHANGES IN EQUITY - SA
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STATEMENT OF TOTAL CAPITAL (OWN FUN
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NOTES - SAXO BANK GROUP Note 1 Acco
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NOTES - SAXO BANK GROUP Note 2 Crit
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NOTES - SAXO BANK GROUP Note (DKK 1
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Page 76 and 77: NOTES - SAXO BANK GROUP Note (DKK 1
Page 90 and 91: NOTES - RISK MANAGEMENT - SAXO BANK
Page 110 and 111: NOTES - KEY FIGURES AND RATIOS - SA
Page 112 and 113: 110 · SAXO BANK · ANNUAL REPORT 2
Page 114 and 115: INCOME STATEMENT - SAXO BANK A/S 1
Page 116 and 117: STATEMENT OF FINANCIAL POSITION - S
Page 118 and 119: STATEMENT OF CHANGES IN EQUITY - SA
Page 120 and 121: STATEMENT OF TOTAL CAPITAL (OWN FUN
Page 122 and 123: NOTES - SAXO BANK A/S Note (DKK 1,0
Page 132 and 133: NOTES - SAXO BANK A/S 23 Branches a
Page 136 and 137: STATEMENTS BY THE INDEPENDENT AUDIT
Page 138 and 139: COMPANY INFORMATION
Page 140 and 141: ADDRESSES DENMARK ADDRESSES EUROPE
Page 142: ADDRESSES WORLD AUSTRALIA Saxo Capi
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