Its 2023 annual report was only expected in March, but the Swiss online bank instead decided to push out its record performance early.
Swissquote had a good – very good year – in 2023. In an ad hoc announcement released Thursday (Swiss time), the Gland, Vaud-based online bank, the country's largest, confirmed a record set of numbers. Pre-tax profit is expected to be at least 255 million francs (roughly $300 million at current exchange rates), based on net revenues that are seen at 530 million francs. This performance was «better than anticipated» and achieved in «challenging» market conditions, the announcement said.
Swissquote also stated that the level of client assets reached 58 billion francs on 31 December 2023, with net new money inflows totaling 5 billion francs last year.
Surpassing a Record 2022
In March, bank management was already confident that 2023 would prove to be a record year. At the time, it was in the process of disclosing a pre-tax profit of 186.4 million francs on revenues of 408 million francs, the best performance in its history. At least until now.
The company will release its full 2023 report on 14 March 2024.
