Switzerland-based online financial services provider Swissquote today confirmed its record growth registered in 2021. The company saw a substantial jump in operating revenues on yearly basis.
In the latest report, Swissquote reported operating revenues of CHF 479.6 million, which represents a 49% jump compared to the previous year.
Net revenues for the year were up by 48.9% to CHF 472.5 million. Pre-tax profit also saw a sharp rise to CHF 223.3 million, increasing 111.4% compared to 2020.
Swissquote stated:
Profitability, with a pre-tax profit margin of 47.3%, increased strongly thanks to higher trading volumes and more customer accounts (+77,599). With organic net new money inflow hitting a record high of CHF 9.6 billion, client assets grew to CHF 55.9 billion. The Board of Directors will propose to the Annual General Meeting that the dividend be increased by 46.7% from CHF 1.50 to CHF 2.20 per share.
Swissquote also published its guidance for 2022 and medium-term for 2025. The company noted that during the two first months of 2022, it experienced strong customer growth. It’s expectation for net revenues in 200 is to reach CHF 475 million.
The company also expects net revenues and pre-tax profit to be CHF 750 million and CHF 350 million, respectively in 2025.
Changes to the Board of Directors
The Swiss financial services provider also announced some changes to its organization. Paolo Buzzi will be suggested as a new member the Board of Directors at the next Annual Meeting. Demetra Kalogerou, former Executive Chairwoman of the Cyprus Securities and Exchange Commission (CySEC), will be proposed as an additional member to the Board of Directors.
Markus Dennler, Chairman of the Board of Directors, commented.
Markus Dennler
With the proposed candidates, we are significantly strengthening our Board of Directors and are pursuing Swissquote’s growth story. In addition to this, we warmly thank Martin Naville for his significant contribution to the company over the last 15 years.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
