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Here is a collection of Forex News Updates, Other Forex Trading System Resources and Information.Hi everyone
Saxo Bank’s numbers for 2009 were worse than the previous year, but encouraging as 80% of the net profit was earned in the second half of the year.
Also, Saxo Bank released that the UAE-based clients constitute almost one-third for the bank, in the entire Middle


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Hi everyone

Saxo Bank’s numbers for 2009 were worse than the previous year, but encouraging as 80% of the net profit was earned in the second half of the year.

Also, Saxo Bank released that the UAE-based clients constitute almost one-third for the bank, in the entire Middle East, and the number of the bank’s clients in Dubai has jumped significantly in a year.

Francesc

Saxo Bank on track with sound results for 2009
Today, the on line trading and investment specialist announced steady results and positive emergence from the financial crisis
Business picked up during the second half of 2009 after a relatively slow beginning to the year. Operating income for the year was DKK 2,228 million compared to DKK 2,518 million in 2008. EBITDA was DKK 441 million while net profit was DKK 201 million with 80% earned in the second half of the year.
As of 31 December 2009, the solvency ratio was 19%. The Bank’s ICAAP process showed a minimum capital requirement of 8%.

30% of Saxo Bank clients in Middle East are from UAE
By Emirates Business 24/7
The net worth of wealthy customers in the UAE as well as in the Middle East, in general, is linked to oil price. And as long as oil and energy prices remain high, the assets of high net worth individuals (HNWIs) in the Middle East is expected to continue rising, a top official of Saxo Bank Dubai, the Copenhagen-based online trading and investment bank, has said.
“In the case of the UAE, a number of HNWIs have had exposure to the real estate market, which have impacted their net worth last year. However, in view of the fact that the UAE and Dubai have one of the highest concentrations of HNWIs in the world, we expect the trend to continue depending on the property market recovery and oil price going forward,” Jakob Thomsen, CEO of Saxo Bank Dubai, told Emirates Business.


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