Saxo Privatbank Opens First Branch for Retail Market

HELLERUP, Denmark, May 9, 2011 /PRNewswire/ -- Saxo Bank, the online trading and investment specialist, has launched its physical presence with Saxo Privatbank, providing banking services and advice to retail clients.

Today, Saxo Privatbank has opened its first branch in Tuborg Havn in Hellerup, Copenhagen, Denmark. Saxo Privatbank will in due time be represented in a string of the bigger Danish cities.

"Saxo Privatbank offers flexibility and freedom to its clients, and at the same time we are able to provide well-known banking products like net banking and credit cards," says Christian Kofoed Jakobsen, Head of Banking at Saxo Bank. "We have seen an increased demand among our clients for traditional banking products, like net banking and credit cards, while at the same time clients want highly qualified advice and access to professional investment products. We have combined the fact that we are the biggest investment bank in Denmark with offering more traditional banking products for retail clients, including advice for retirement planning."

Saxo Privatbank will align its efforts with the specific wishes and needs of the clients thereby keeping prices and fees to a minimum.

"We have made our price concept simple and transparent. Clients pay a fixed price for the service that fits them the best. The need determines what particular banking product the client is going to get," says Christian Kofoed Jakobsen.

Saxo Privatbank is directing its offering towards clients who have their finances under control, however, the bank is targeting a broad range of clients.

"One of our strengths is that if a retail banking client needs special attention, we can give them access to expert advice from our advisors who assist senior clients. Our banking products are shaped and targeted in a way that will offer clients most value," says Christian Kofoed Jakobsen.

Saxo Privatbank is established as a part of Broerup Sparekasse, a Danish savings bank where Saxo Bank is a major shareholder, the activities of which will continue in Jutland under its present name. Allan Kandrup will become head of the Saxo Privatbank branch in Tuborg Havn, Hellerup.