Switzerland-based online trading platform, Swissquote, today revealed that, due to a surge in trading activities, the company is expecting a record performance for the first half of 2021.
The official announcement reported that the company estimates that their net revenues for H1 2021 will reach CHF 260 million. The company registered CHF 160.7 million in net revenues of during the first half of 2020.
Swissquote also noted that it expects pre-tax profit to exceed CHF 130 million. In comparison, for the same period last year, the company reported CHF 58.4 million.
The announcement stated:
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.
Last year, the broker reported a significant rise in net revenues and net profit along with a substantial increase in the number of active clients. Net revenues reached CHF 317.3 million in 2020, which is 37.6% higher than the net revenues registered in 2019.
Earlier in May, Swissquote launched digital banking app Yuh in partnership with the financial services unit of Swiss Post, PostFinance.
