Dukascopy Bank posts net profit of CHF 3.4M in FY 2015, monthly volumes climb

The management of Dukascopy Bank SA, a Swiss bank and a securities dealer, reiterated its commitment to expanding the business via the addition of new licensed brokerage companies.

Veronika and Andrey Duka, co-Chief Executive Officers of Dukascopy, voiced this commitment in Dukascopy’s annual financial report for 2015. This is in line with previous comments made by the company, when it published its financial report for the first half of 2015. It said back then it was planning to expand its presence in Australia, South Korea, South Africa and Canada via the full or partial acquisitions of Forex brokers.

The acquisition drive was successful last year with the deal for Alpari Japan, which eventually became Dukascopy Japan. Dukascopy Japan joined Dukascopy Group in August 2015 while its commercial activities were stopped, meaning it had operating expenses but no income. The consolidated net profit 2015 of the Group is CHF 0.6 million below Dukascopy Bank’s net profit due to the initial losses of Dukascopy Japan. Dukascopy Japan recommenced operations in October 2015 and is expected to break even by 2017.


  • Dukascopy Bank results

Thanks to high market volatility, trading volume at Dukascopy Bank has reached records in 2015 with a monthly average of CHF 55 billion.

Conditions were also favourable to operating income, which hit CHF 35 million, up 29% from the result of CHF 27.1 million registered a year earlier.

Total operating expenses were virtually unchanged from 2014 levels at CHF 25.6 million.

The net profit reached CHF 3.4 million in 2015, marking more than a threefold rise from the reading of CHF 1 million reported in 2014. Dukascopy notes that CHF 2.8 million have been put aside as “Reserves for general banking risks”. Without this extraordinary item, the net profit 2015 would have reached about CHF 5.5 million.

In 2015, the net inflow of margin deposits was very strong. However, this left the total of margin deposits almost unchanged (+1% compared to 2014) due to the drop of the EUR/CHF rate (-10% over 2015 which concerns 31% of clients deposits) and to client trading losses.

You can view the full 2015 report from Dukascopy by clicking here.

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