saxo-bank-annual-report-2015

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NOTES – SAXO BANK GROUP Note (DKK 1,000) 2015 2014 37 Associates and joint ventures Summarised financial information for material associates Banco Best S.A., Financial institution: Income 118,023 210,143 Net profit 33,809 53,193 Other comprehensive income (33) (33) Total comprehensive income 33,776 53,160 Statement of financial position Current assets - 3,064,061 Non-current assets - 45,054 Current liabilities - (2,559,373) Non-current liabilities - (18,084) Equity - 531,658 Saxo Bank Groups share of equity (0%) (2014: 25%) - 132,915 Carrying amount of investment in associates and joint ventures Carrying amount of investment in material associates - 132,915 Goodwill related to material associates 1) - 55,522 Carrying amount of investment in joint ventures, individually not material - 1,325 Total investment in associates and joint ventures - 189,762 1) For details of impairment losses, see note 19 Impairment test. In first half of 2015 an impairment loss of DKK 60 million is recognised on goodwill and customer contracts related to the investment in Banco Best S.A., see note 19 Impairment test. The investment in Banco Best S.A. (25% ownership) is in November 2015 divested resulting in a gain of DKK 22 million. The impairment loss of DKK 60 million is recognised in the income statement under Income from associates and joint ventures. The gain of DKK 22 million is recognised in the income statement under Other income. The investments in Capital Four Management Fondsmæglerselskab A/S (47% ownership) and Leverate Technological Trading Ltd. (25% ownership) were divested in 2014. The financial information disclosed for Banco Best S.A. is for the period 1 December 2014 - 30 September 2015 (2013: 1 December 2013 - 30 November 2014). 86 · SAXO BANK · ANNUAL REPORT 2015
NOTES – SAXO BANK GROUP Note (1,000) 38 Group entities Subsidiaries Currency Net profit Equity Ownership Financial institutions Saxo Bank do Brasil Escritorio, Brasil 1) BRL - - 100% Saxo Bank Dubai Ltd., Dubai USD 283 2,766 100% Saxo Bank (Panama) S.A., Panama 1) USD - - 100% Saxo Bank Securities Ltd., Japan JPY 43,039 1,059,635 100% Saxo Bank (Switzerland) AG, Switzerland CHF 16,928 73,442 100% Saxo Banque France SAS, France EUR 2,988 11,142 100% Saxo Capital Markets Agente de Valores S.A., Uruguay UYU (19,518) 21,617 100% Saxo Capital Markets BV, Netherland EUR (3) 15 100% Saxo Capital Markets CY Limited, Cyprus EUR 1,780 3,913 100% Saxo Capital Markets HK, Hong Kong HKD (1,538) 76,243 100% Saxo Capital Markets HK, Far East HKD (2,687) 3,963 100% Saxo Capital Markets Menkul Degerler Anonim Sirketi, Turkey TRY 1,388 17,483 100% Saxo Capital Markets Pty Ltd., Australia AUD 3,278 10,816 100% Saxo Capital Markets Pte. Ltd., Singapore SGD 18,008 55,379 100% Saxo Capital Markets SA Ltd., South Africa ZAR 13,807 39,792 100% Saxo Capital Markets UK Ltd., UK GBP 4,448 15,818 100% Saxo Payments A/S, Denmark DKK (27,147) 47,619 50.1% Saxo Privatbank A/S, Denmark DKK 13,098 331,201 99.6% SBSF Ltd., UK GBP 1 (65) 100% Other Ejendomsselskabet Bygning 119 A/S, Denmark DKK 4,092 159,577 100% Initto A/S, Denmark DKK 1,186 35,028 100% Saxo Jet A/S, Denmark DKK 216 (10,085) 100% Saxo Treasury A/S, Denmark DKK 3,676 413,350 100% 1) The company does not publish an annual report. The financial information disclosed is extracted from the companies’ most recent annual reports. Financial institutions supervised by national FSAs are subject to local statutory capital requirements. These requirements restrict intra-group facilities and dividend payouts. SAXO BANK · ANNUAL REPORT 2015 · 87
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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
Page 38 and 39: HIGHLIGHTS 2015 JANUARY Saxo Bank r
Page 40 and 41: FINANCIAL STATEMENTS 38 · SAXO BAN
Page 42 and 43: INCOME STATEMENT - SAXO BANK GROUP
Page 44 and 45: STATEMENT OF FINANCIAL POSITION - S
Page 46 and 47: STATEMENT OF CHANGES IN EQUITY - SA
Page 48 and 49: STATEMENT OF TOTAL CAPITAL (OWN FUN
Page 50 and 51: NOTES - SAXO BANK GROUP Note 1 Acco
Page 58 and 59: NOTES - SAXO BANK GROUP Note 2 Crit
Page 60 and 61: 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
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COMPANY INFORMATION
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ADDRESSES DENMARK ADDRESSES EUROPE
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ADDRESSES WORLD AUSTRALIA Saxo Capi
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