Saxo reports record 2010 with strong FX volumes

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Saxo Bank has reported a reversal of fortunes in 2010 as its operating income reached Dkr3.3 billion ($600 million), up from Dkr2.2billion in 2009. Announcing its full-year results on March 3, the Danish bank reported a net profit of Dkr644 million for the year, with 70% of its income coming from foreign exchange.

"Since 2008 we have been transforming the bank into a different animal, involving massive investment in technology, new products and new offices – essentially trying to be more lean

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