Nordnet Denmark Reports Record Results for Second Quarter
Nordnet's Danish division achieved record financial results in the second quarter of 2020. Revenue surged by 140% to SEK 144 million, with profit before tax reaching SEK 95 million.
Nordnet Denmark reported significant growth in the second quarter of 2020, with revenues climbing to SEK 144 million, a 140% increase year-over-year. The company's profit before tax for the Danish operations reached SEK 95 million.
According to Anne Buchardt, Country Manager for Nordnet Denmark, the record results were driven by a surge in trading activity, customer acquisition, and increased savings. The number of customers grew by 46% to 158,600, and total savings managed by Nordnet Denmark reached SEK 91.5 billion.
During the quarter, Nordnet launched four new international index funds in collaboration with J.P. Morgan, offering investors access to well-known indices with competitive costs. This initiative aims to further expand Nordnet's product offerings in Denmark.
Nordnet Group as a whole also posted its strongest-ever second quarter, with group revenues rising to SEK 650 million and profit before tax hitting SEK 369 million. The digital bank operates across the Nordic region, providing savings and investment services.