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Saxo aims to double GCC profit
- United Arab Emirates: Monday, May 04 - 2009 at 08:49
Danish online currency, derivative and equity trading provider Saxo Bank will inaugurate an office in the Dubai International Financial Centre this week to service Middle East clients. The group expects to double its profits from the region over the next three years. Shailendra Robin Patel, senior executive director said about 5% of the bank's 2008 profit of $83.5m came from the Gulf region, with an anticipated growth rate of to 8%-10 % in three years, Bloomberg has reported. Saxo Bank may add regional equity markets to its platform, including Nasdaq Dubai.
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StaffMonday, May 04 - 2009 at 08:49 UAE local time (GMT+4)
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