Swissquote Expects a Jump in Profits in H1 2021

Swiss leading online trading platform 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.

“The strong organic growth that has been ongoing for months continues at Swissquote. Since the beginning of the year, Swissquote has been registering a massive inflow of new clients and new assets. The first months of 2021 have seen strong trading activities in Swissquote’s main revenue segments (fee and commission, eForex, and cryptocurrencies). As a result, Swissquote expects to achieve record half-year results,” the company stated.

Shortly before, the financial service provider has announced the expansion in crypto offering with Dogecion. Additionally earlier in May, it has launched a digital banking app Yuh.