Switzerland-based online bank, Swissquote, today revealed its yearly financial results for 2022.
The company reported that in 2022 it managed to navigate through the difficult market and its results were in line with its expectations for the full year.
The broker reported net revenues of over CHF 400 million. The number is 15.3% lower than the previous year’s CHF 472 million.
Pre-tax profit came at CHF 185 million in 2022. This represents a 17% drop from CHF 223 million in 2021.
The company said:
The diversified sources of revenues and a higher share of non-transaction based revenues have enabled Swissquote to navigate safely in a difficult market environment.
Swissquote highlighted that some of the negative market impact was offset by net new money inflow of CHF 7.7 billion, 19.8% lower than 2021’s CHF 9.6 billion.
Client assets on the trading platform came in at CHF 52.2 billion, decreasing 5% from the prior year.
Earlier in December, Swissquote launched a new feature to upgrade ESG investing with information on stocks, including ESG impact.
