ICAAP and Risk reports

Saxo Bank issues regular ICAAP and Risk reports in compliance with Danish financial regulations.​

ICAAP reports

The purpose of an Internal Capital Adequacy Assessment Process (ICAAP) is to determine the adequate capitalisation of the Bank, given the risks endured as well as future risks arising from growth, new markets and expansion of the product portfolio.

A full ICAAP is performed as often as required, but at least once a year. Capital adequacy levels adjusted to the ongoing limit utilisation are reported to the Danish Financial Supervisory Authority (FSA) on a quarterly basis.


ICAAP reports 2016
ICAAP Q1 2016 Download in PDF format

ICAAP reports 2015
ICAAP Q4 2015 Download in PDF format
ICAAP Q3 2015 Download in PDF format
ICAAP Q2 2015 Download in PDF format
ICAAP Q1 2015 Download in PDF format

ICAAP reports 2014
ICAAP Q4 2014 Download in PDF format
ICAAP Q3 2014 Download in PDF format
ICAAP Q2 2014 Download in PDF format
ICAAP Q1 2014 Download in PDF format

ICAAP reports 2013
ICAAP Q4 2013 Download in PDF format
ICAAP Q3 2013 Download in PDF format
ICAAP Q2 2013 Download in PDF format
ICAAP Q1 2013 Download in PDF format

ICAAP reports 2012
ICAAP Q4 2012 Download in PDF format
ICAAP Q3 2012 Download in PDF format
ICAAP Q2 2012 Download in PDF format
ICAAP Q1 2012 Download in PDF format
ICAAP reports 2011
ICAAP Q4 2011 Download in PDF format
ICAAP Q3 2011 Download in PDF format
ICAAP Q2 2011 Download in PDF format
ICAAP Q1 2011 Download in PDF format

ICAAP reports 2010
ICAAP Q4 2010 Download in PDF format
ICAAP Q3 2010 Download in PDF format
ICAAP Q2 2010 Download in PDF format
ICAAP Q1 2010 Download in PDF format

ICAAP reports 2009
ICAAP Q4 2009 Download in PDF format

​Risk Reports

According to the Capital Requirements Regulation (CRR), Saxo Bank A/S is required to disclose information on the Bank's risks and policies relating to risk management, the calculation of capital requirements, Own Funds, Leverage, Liquidity and Asset Encumbrance.

Saxo Bank invites you to read the following Risk Reports.


Risk Report 2015
Risk Report 2015 Saxo Bank A/S
and Saxo Bank Group
Download in PDF format
Risk report 2014
Risk Report 2014 Saxo Bank A/S
and Saxo Bank Group
Download in PDF format
Risk report 2013
Risk Report 2013 Saxo Bank A/S
and Saxo Bank Group
Download in PDF format
Risk report 2012
Risk Report 2012 Saxo Bank A/S
and Saxo Bank Group
Download in PDF format
Risk report 2011
Risk Report 2011 Saxo Bank A/S
and Saxo Bank Group
Download in PDF format
Risk report 2010
Risk Report 2010 Saxo Bank A/S
Risk Report 2010 Saxo Bank Group
Download in PDF format
Download in PDF format