saxo-bank-annual-report-2015

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NOTES – SAXO BANK A/S Note (DKK 1,000) 2015 2014 2013 2012 2011 27 Key figures and ratios Key figures Net interest, fees and commissions 235,459 115,772 (93,018) (35,145) (10,195) Price and exchange rate adjustments 1,029,692 1,752,589 1,887,130 2,052,912 2,684,750 Staff costs and administrative expenses (1,527,141) (1,323,609) (1,392,763) (1,707,836) (1,768,858) Impairment charges for receivables, loans, advances etc. (828) 13,347 (1,572) (14,670) (31,041) Income from associates, subsidiaries and joint ventures (46,820) 246,580 239,350 45,239 43,670 Net profit (623,264) 399,722 151,902 67,573 618,548 Loans and advances at amortised cost 38,565 75,484 351,926 489,623 404,004 Subordinated debt 674,070 335,133 410,300 410,314 408,933 Total equity 3,896,429 4,198,863 3,458,012 3,334,287 3,222,835 Total assets 27,965,236 30,200,852 22,004,376 20,115,794 20,594,106 Average number of employees 647 687 660 793 732 Ratios Total capital ratio 26.7 % 22.1 % 18.0 % 13.7 % 13.9 % Tier 1 capital ratio 22.4 % 20.5 % 15.1 % 10.5 % 10.7 % Return on equity before tax (19.1)% 13.0 % 5.7 % 3.1 % 27.8 % Return on equity after tax (15.4)% 10.4 % 4.5 % 2.1 % 20.3 % Income proportional to cost 0.62 1.29 1.10 1.05 1.43 Interest rate risk 3.0 % 2.9 % 2.0 % 1.3 % 1.6 % Foreign exchange rate risk/Tier 1 capital 9.6 % 37.0 % 38.2 % 115.6 % 219.2 % Value at risk of foreign exchange rate risk/Tier 1 capital 0.2 % 0.2 % 0.2 % 2.5 % 6.4 % Loans and advances plus impairment allowance/Deposits 0.3 % 0.5 % 3.4 % 5.4 % 5.1 % Loans and advances proportional to total equity 0.01 0.02 0.10 0.15 0.13 Growth in loans and advances (48.9)% (78.6)% (28.1)% 21.2 % 61.7 % Additional liquidity/liquidity requirement 354.3 % 345.1 % 255.8 % 330.6 % 310.4 % Sum of large exposures/Total Capital - - - - 77.4 % Loss and provisions ratio (loans and advances) 0.3 % (17.2)% 0.3 % 2.4 % 8.4 % Return on assets (2.2)% 1.3 % 0.7 % 0.3 % 3.0 % See page 109 for definitions. 132 · SAXO BANK · ANNUAL REPORT 2015
STATEMENT BY THE MANAGEMENT The Board of Directors and Board of Management have considered and approved the annual report for the financial year 2015 for Saxo Bank A/S. The consolidated financial statements have been prepared in accordance with the International Financial Reporting Standards as adopted by the EU, and the parent company’s financial statements have been prepared in accordance with the Danish Financial Business Act. In our opinion, the consolidated financial statements and the Parent Company’s financial statements give a true and fair view of the Group’s and the Parent Company’s assets, liabilities, shareholders’ equity and financial position at 31 December 2015 and of the results of the Group’s and the Parent Company’s operations and the Group’s cash flows for the financial year 1 January – 31 December 2015. Moreover, in our opinion, the Review of 2015 and The Business of Saxo Bank include a fair review of developments in the Group’s and the Parent Company’s operations and financial position (page 5-37) and describe the significant risks and uncertainty factors that may affect the Group and the Parent Company. The 2015 annual report is submitted for the approval of the annual general meeting. Copenhagen, 18 April 2016 BOARD OF MANAGEMENT Kim Fournais CEO and Co-founder Søren Kyhl Group Chief Operating Officer Steen Blaafalk Group Chief Financial and Risk Officer BOARD OF DIRECTORS Lone Fønns Schrøder Chairman of the Board Henrik Normann Vice Chairman of the Board Asiff S Hirji Wikawi Oei Jacob Polny Thomas Plenborg SAXO BANK · ANNUAL REPORT 2015 · 133
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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 84 and 85: 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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