Saxo turns in 6% income growth, despite tough Q4
Saxo Bank yesterday acknowledged the challenges it has faced as a result of the eurozone crisis in recent months, but reported a 6% increase in operating income for 2011 to 3.53 billion kroner ($628 million), up from 3.34 billion kroner in 2010.
"The first three quarters of the year were extremely good for the business, while the last quarter suffered from the consequences of the European crisis, as well as flows moving from the yen and Swiss crosses to EUR/USD, where the margins are lower," Kim
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