January 14, 2021 - For the second year running Swissquote (SWX:SQN) , the Swiss online bank and broker, has beaten its previously upwardly revised forecast results. Swissquote announced today that it has exceeded the upwardly revised forecast that it provided at the time of reporting its first half results in 2020. Swissquote expected to generate a pre-tax profit of CHF 100 million on revenues amounting to CHF 300 million.
Today the company reported total net revenues surging to at least CHF 315 million and a pre-tax profit above CHF 105 million, far exceeding the revised forecast figures provided at H1 2020. Strong client growth and organic net new money inflow of CHF 5.3 billion resulted in client assets rising to an all-time high of CHF 39.8 billion.
Swissquote is reporting the best result in its history and states that it aims to continue growing its revenues and profit in 2021.
The full report for the 2020 financial year will be published on 18 March 2021.
In January 2020, Swissquote also reported record results, beating its previously upwardly revised forecast. The initial pre-tax profit forecast for 2019 of CHF 44 million was revised to CHF 48 million in July 2019. The forecast was achieved with total net revenues in the order of CHF 230 million and exceeded with a pre-tax profit of CHF 50 million. For 2019, Swissquote reported record client assets of CHF 32.3 billion, and net new money inflows of CHF 4.6 billion
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