Today, Saxo Bank, the online trading and investment specialist, announced the launch of Saxo Banque France. This announcement comes following the Danish Bank's acquisition of its French partner, online brokerage Cambiste, in May 2008.

With approval from the Banque de France to become a fully licensed French bank, Cambiste has been rebranded as Saxo Banque France. The development comes as Saxo reinforces its activities in France, consolidating its presence in the French market at a time when volumes and revenues at Cambiste continue to grow at an impressive rate. Pierre-Antoine Dusoulier, founder and CEO of Cambiste, will continue in his present capacity and will help to further develop Saxo Bank 's business in France.

“We are delighted that our partnership with Saxo Bank has reached this stage”, Pierre-Antoine Dusoulier, founder and CEO of Cambiste, said. “France offers a multitude of opportunities in online trading as the appetite among sophisticated French online investors for Forex and Contracts for Differences (CFDs) continues to grow. Saxo Banque France will be at the heart of this market with our two new platforms, SaxoWebTrader and SaxoMobileTrader”.

Dusoulier also said that Saxo Banque France will focus on developing the French CFD market and extending the bank's White Label Partners hip franchise. “A partnership offers the capabilities of Saxo Bank's trading platform branded under your own company's image. Cambiste has been using Saxo Bank 's award-winning online platform, SaxoTrader, since April 2006. I know that this business model works”, Dusoulier said.

Saxo Bank's founders and co-CEOs, Kim Fournais and Lars Seier Christensen, confirmed in a statement that the integration of Cambiste into Saxo Bank has been swift and smooth.

“Cambiste is a prime example of how successful a partnership can be when driven by dedication from both parties. The launch of Saxo Banque France will enable us to build on our success in the French market through the first-class local knowledge at Cambiste with Saxo Bank 's expertise, strength and recognition”, the two CEOs said in a joint statement.

Saxo Banque France launched its new website today with more information about its offerings: http://www.saxobanque.fr/

Saxo Bank's operating profits before tax for the first six months of 2008 increased to EUR 21.7 million, with market fluctuations in August and September positively affecting the bank's earnings. Year-to-date operating profits before tax amount to approximately EUR 41.6 million, a significant improvement on the same period last year. Saxo Bank's profile in France was strengthened this year following the Bank's sponsorship of Team CSC Saxo Bank, the winning team in this year's Tour de France.