Swissquote Expands Partnership with Luzerner Kantonalbank

Fazzaco learned that Swissquote, Switzerland's leading bank in online trading services, is expanding its partnership with Luzerner Kantonalbank AG (LUKB), which will become the former's exclusive partner for mortgages from January 1, 2022.

This partnership will provide Swissquote's clients with attractive terms for online mortgages for home financing and mortgage redemption. The two banks are expecting to offer the binding financing offers within 24 hours. 

Swissquote's CEO Mark Burki said: "We are delighted to have found, in Luzerner Kantonalbank, a partner with a proven track record in the mortgage business. We are confident that LUKB will prove to be a solid and agile partner that will enable our clients to benefit from nationwide reach and from an up-to-date product portfolio."

Daniel Salzmann, CEO of LUKB, added: "The distribution partnership with Swissquote, which has made a name for itself as an online bank, means we can leverage our own bank's mortgage expertise, both digitally and by extending its catchment area. In doing so, we are creating the basis for continued growth and greater efficiency in one of our core fields."

Fazzaco recently reported that Swissquote is expecting a surge in net revenues and pre-tax profit​ for the first half of 2021. Reportedly the bank is anticipating net revenues of CHF 260 million for H1 of 2021, compared to that of CHF 160.7 million in the H1 of 2020. In terms of pre-tax profit, it is expecting over CHF 130 million. And its total pre-tax profit in H1 2020 was CHF 58.4 million.