The Net Profit of Swissquote Has More Than Doubled

Aug 13, 2021

The Net Profit of Swissquote Has More Than Doubled

Swissquote, an online bank, said in a results statement on Friday that its net profit more than doubled to 134.6 million Swiss francs ($144.0 million) in January-June from 50.4 million francs a year earlier.

The bank, located in Gland, western Switzerland, said the results exceeded its expectations.

In the first half of 2021, 49,552 new client accounts were established, with a net fresh money inflow of 4.9 billion Swiss francs, bringing total client assets to a new high of 50.2 billion Swiss francs as of June 30.

As a result, Swissquote increased its net sales forecast for 2021 from 365 million to 465 million francs, and its pre-tax profit objective from 130 million to 210 million francs.

Two-thirds Revenue Increase

Operating revenues increased 63.7 percent year on year to 266.4 million francs in the first half, resulting in net revenues of 264.4 million francs after negative interest rate and fair value adjustments, up 64.5 percent year on year.

High Volumes of Trading

Trading was robust in all business sectors and asset classes in the first half, the bank said, thanks to solid customer and asset growth as well as a positive market environment. To 87.1 million francs, net fee and commission revenue increased by 10.9 percent year on year.

Increase in Cryptocurrency Income

From 4.8 million francs a year ago, net crypto-assets income soared to 63.2 million francs. Institutional investors accepted crypto-assets and bitcoin at record high levels in the first half, according to Swissquote.

Strong trading activity across all asset classes raised net trading revenue to 42.6 million francs, virtually a sixteenfold increase.

However, the interest sector, which saw net revenues fall 36.9% to 10.5 million francs, remained characterized by low interest rates, since the leasing industry was not projected to reach critical scale until next year, according to the bank.

Costs are increasing

Operating expenditures in the first half were 129.3 million francs, up 26.9% over the previous year. Swissquote ascribed the increase to a 20.2-million-franc increase in human expenditures due to accruals for variable pay and the hiring of more than 50 temporary workers to handle the high volume of client inquiries.

Subscribe Our Newsletter

Alibaba Stock Split Boosts Optimism Amid China's Economic Recovery

Tamta

Alibaba Stock Split Boosts Optimism Amid China’s Economic Recovery

Alibaba's stock split and China's economic recovery fuel optimism for the tech giant's future growth prospects.

Stocks
B2Broker Announces PBS as a New Fintech Player at the Stock Market
B2Broker Announces PBS As Latest Fintech Player To Enter Russian Stock Market

PBS, a member firm of the B2Broker group, has secured a license from the Bank of Russia, according to B2Broker. The license, which allows PBS to undertake brokerage and dealer activities, was awarded in October 2021 after the business applied for one earlier this year with the Russian government.

Stocks
B2BROKER Liquidity B2BROKER Liquidity
Sponsored
Tamta

Crypto Trading For Beginners
Since Bitcoin's debut in early 2009, the popularity of cryptocurrencies has skyrocketed significantly. Although Cryptocurrencies' primary goal was to serve as a fast and decentralized payment alternative, they soon gained recognition as an option to generate a passive income.

discover
From Gold to Index Funds and Crypto: Where to Invest in 2023

Alexander

From Gold to Index Funds and Crypto: Where to Invest in 2023 for Long Term?

We are all familiar with the phrase "time is money", but usually without realising how true it really is. This has been proven repeatedly for those who have invested wisely in the past three decades.

Investing
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Сonstantine

    OTC Trading Strategies and Technologies to Succeed in Over-the-Counter Markets

    OTC Trading Strategies

    Alexander

    What is OTC Trading? A Complete Guide for 2025

    what is OTC

    Alexander

    Synthetic Futures: A Trader’s Guide to Replicating Positions with Options

    How to Trade Synthetic Futures

    Сonstantine

    Order Book Depth: What It Is And Why It Matters?

    Order Book Depth What It is And Why It Matters

    Alexander

    Spot vs Perpetual Futures: Which Is Right for You?

    Spot vs Perpetual Futures explained

    Hazem

    5 Reasons Traders Are Switching to Perpetual Futures

    5 Reasons to Switch to Perpetual Futures

    Constantine

    Top 3 Liquidity Challenges Facing New Exchanges and How to Solve Them

    Top 3 Liquidity Challenges Facing New Exchanges Today

    Constantine

    Financial Planning in the Cryptocurrency Era — Master Crypto and Digital Asset Strategies

    Financial Planning in the Cryptocurrency Era

    Hazem

    Best Platforms to Trade Perpetual Futures in 2025

    Best platforms to trade perpetual futures in 2025

    Alex

    Top 10 Fintech Website Development Agencies for 2025

    Best Fintech Website Development Agencies for 2025

    Сonstantine

    Internal vs External Range Liquidity In ICT Trading Explained

    Internal vs External Range Liquidity In ICT Trading

    Constantine

    Portfolio Backtesting — Tools, Metrics, and Methods Explained

    Portfolio Backtesting

    Сonstantine

    ICT Trading Explained: Smart Money Concepts, Tools and Setups

    ICT Trading Explained

    Сonstantine

    CFD Trading Strategies: A Practical Guide to Risk and Execution

    CFD Trading Strategies

    Alexander

    What is a Fair Value Gap? A Guide to Trading Market Imbalances

    What is Fair Value Gap

    Vitaliy

    Triangle Patterns in Trading: Mastering Ascending, Descending & Symmetrical Strategies for Maximum Profit

    Triangle Patterns in Trading: Ascending, Descending & Symmetrical Guide

    Alexander

    What Is COTI? Payments, Token & Price Prediction

    What is a COTI coin

    Constantine

    Best Copy Trading Software in 2025

    Best Copy Trading Software in 2025

    Alex

    What Is an AI Agent? The Future of Finance Explained

    AI Agent Explained

    Constantine

    How to Start a Liquidity Provider Business?

    How to Start a Liquidity Provider Business

    Constantine

    How to Start a White Label Brokerage?

    How to start a white label brokerage

    Constantine

    How to Start a Multi-Asset Brokerage?

    How to Start a Multi-Asset Brokerage

    Hazem

    Crypto Ransomware – How They Happen and How to Avoid Them

    Crypto ransomware explained

    Constantine

    Best Web3 Browsers in 2025

    Best Web3 Browsers
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.