Swissquote Confirms Record Results for 1H-2021

Swissquote, a Switzerland-based online trading platform, released the results for the first half of 2021. The company confirms record results in the official release and expects pre-tax profit to double in 2021.

Following the trend of the year 2020, Swissquote surpassed its initial forecasts in the first half of 2021. Overall, Swissquote recorded operating revenues of CHF 266.4 million, an increase of 63.7 percent compared to the previous year. Net revenues reached a total of CHF 264.4 million, registering an increase of 64.5 percent with a pre-tax profit of CHF 134.6 million compared to the prior-year period.

The company also witnesses new record high level of client assets. In the six month period, 49,552 new client accounts were opened and net new money inflow hit a new record and came in at CHF 4.9 billion. More than 40 percent of this purely organic growth was achieved with international customers. With the combination of positive markets, client assets grew by 50 percent to CHF 50.2 billion.

In the field of crypto-assets, Swissquote continued to enlarge its offering for retail and institutional customers. With more than 20 cryptocurrencies and CHF 1.9 billion in crypto-assets under custody, Swissquote is the bank with the most comprehensive offering in Switzerland and in Europe.

Swissquote also mentioned in the official release that as of 1 January 2022, Luzerner Kantonalbank (LUKB), the dominant retail banking group, will be Swissquote's exclusive distribution partner for mortgages. The two banks have already been in a partnership since May 2021 for the distribution of actively managed certificates. In the medium term, both partners aim to seek further opportunities for strategic cooperations.

Fazzaco reported that Swissquote has developed a new "Investment Inspiration" widget​ which is now available on Swissquote's eTrading platform. Based on investors' trading histories, the solution can recommend investors a daily and personalized selection of stocks.