Swissquote Posts 24.4% YoY Decrease in Net Revenues During H1 2022

Swissquote, a leading Switzerland-based online trading platform, has published its financial results for the first half of 2022, showcasing a 24.4 percent year-on-year drop in net revenue with a total of CHF 200.0 million, from CHF 264.4 million in the prior year.

The total half-yearly operating revenue reached CHF 204.8 million, a decrease of 23.1 percent compared with the previous year's CHF 266.4 million. The pre-tax profit of the online trading giant decreased by 32.7 percent to CHF 90.7 million. The figure was CHF 134.6 million in the previous year.

During the six months, Swissquote's Net trading income dropped by 28.0 percent to CHF 30.7 million and net eForex income declined by 13.7 percent to CHF 54.3 million.

Compared with the prior-year period, net fee and commission income declined by 6.7 percent to CHF 81.3 million. While moving from a rally in the first half of 2021 to a sharp slump in the first half of 2022, net crypto-assets income dipped by 69.2 percent to CHF 19.5 million.

According to the broker, by the end of September 2022, it will roll out its own crypto exchange. This week, Swissquote announced that it will launch its own TWINT app as a payment solution for its clients. This new feature marks one step further towards being a universal bank for private clients and will be available for all eTrading-account holders free of charge.