The Danish investment brokerage companies achieved a profit after tax of DKK 1,241 million in 2024, corresponding to an increase of 16.3 percent compared with the previous year. The growth was driven by higher earnings and lower personnel and administrative expenses.
Earnings increased due to higher net fee, commission, and advisory income from equity products, while income from bond products generally declined slightly.
The gross income relative to clients’ total capital (AuM and AuA) increased from 0.49 percent in 2023 to 0.54 percent in 2024, indicating that the investment brokerage companies’ services have generally become somewhat more expensive for clients.
Earnings per unit of expense increased for the entire sector from DKK 1.75 to DKK 1.97, reflecting higher profitability.
The total capital under management and advisory services amounted to DKK 814.0 billion in 2024, only slightly higher than in 2023 (DKK 806.5 billion). The modest increase can mainly be attributed to higher assets under management in the class 3 companies.

Figure 1: Income and Expenses

Figure 2: Income by Financial Product

Figure 3: Gross Income Relative to Client Capital (AuM and AuA)

Figure 4: Earnings per Cost Krone

Figure 5: Average Capital under Management and Advisory

Table 1: Population

	Year				Change (percent)
Type of company	2021	2022	2023	2024	2021-2024	2023-2024
Class 2	15	15	18	18	20.0	0.0
Class 3	32	34	37	42	31.2	13.5
Total	47	49	55	60	27.7	9.1

Table 2: Income Statement Extract

	year				Change (percent)
Income statement items (DKK mn.)	2021	2022	2023	2024	2021-2024	2023-2024
Gross fee and commission income	4,879	4,213	3,938	4,407	-9.7	11.9
Net interest and fee income	3,922	3,334	3,170	3,419	-12.8	7.8
Market value adjustments	146	144	201	216	48.2	7.4
Other operating income	1	10	4	6	361.7	44.9
Personnel expenses	1,830	1,827	1,866	1,811	-1.0	-2.9
Depreciation and other expenses	44	46	62	41	-5.1	-33.3
Profit before tax	2,177	1,616	1,449	1,788	-17.9	23.4
Profit after tax	1,694	1,251	1,067	1,294	-23.6	21.3
Dividends paid	1,025	1,413	1,189	781	-23.8	-34.3

Table 3: Balance Sheet Extract

	year				Change (percent)
Balance items (DKK mn.)	2021	2022	2023	2024	2021-2024	2023-2024
Receivables from credit institutions	3,426	1,920	1,987	1,908	-44.3	-4.0
Bonds at fair value	482	390	481	488	1.3	1.4
Equities	233	210	227	264	13.1	16.0
Total assets	6,771	4,889	4,788	5,413	-20.1	13.1
Debt to credit institutions	206	159	227	640	210.6	181.7
Total debt	3,653	2,148	2,198	2,571	-29.6	17.0
Equity	3,107	2,739	2,589	2,842	-8.5	9.8
Total liabilities	6,771	4,889	4,788	5,413	-20.1	13.1

About the Statistics

“The Financial Sector in Figures: Investment Brokerage Companies” presents key financial statements and indicators for Danish investment brokerage firms under the supervision of the Danish Financial Supervisory Authority (FSA). The compilation is based on the firms’ regulatory reporting.

Investment brokers are financial firms offering services such as investment advice, portfolio management, and trading of securities. Together with other securities dealers and asset managers, they play an important role in capital allocation in financial markets. They are regulated both by the Danish FSA and by EU legislation.

According to the EU Investment Firm Directive (IFD), investment brokerage companies are classified into three categories: Class 1 includes investment firms of systemic importance and is subject to the same regulation as credit institutions. No Danish investment brokers have this status. Class 2 includes larger firms without systemic significance, while Class 3 covers smaller firms with limited complexity.

For further information, see IFD and IFR – EU Legal Frameworkg.