swissquote benefits from shifted crypto view. online bank swissquote, which maintains a strong presence in singapore, expanded its business across nearly all segments in 2024 and set new strategic goals. a shifting perception of the cryptocurrency market contributed to a record-breaking year. the former ceo of postfinance is also set to join swissquote’s board of directors. as announced in january, swissquote has had an outstanding year. last week the online bank published its 2024 annual report with detailed figures. net revenue amounted to 661 million francs (+24,4 percent), pre-tax profit to 345,6 million francs (+35,3 percent), and net profit to 294,2 million francs (+35,2 percent). customer assets grew by 31,5 percent to 76,3 billion francs, including 8,3 billion francs in new money. the number of customer accounts increased by 75'000 to a total of 650'000. interest income also increased. unlike other banks, swissquote was able to increase its interest income despite an unfavorable environment, rising by 5,2 percent to 224,2 million swiss francs. according to swissquote, this was due to an increase in customer cash deposits and a favorable currency mix. net commission income also rose by 24,7 percent to 178,2 million francs. trading income saw an even stronger increase of 41,3 percent, reaching 78,3 million francs. however, the undisputed star segment of 2024 was the cryptocurrency business. this sector experienced an impressive growth rate of 353,2 percent, contributing a substantial 85,5 million francs to total net revenue. swissquote attributes this to the «global shift in perception» of the cryptocurrency market and the doubling of market capitalization. more spending on staff and marketing. the only setback occurred in foreign exchange trading (e-forex), where low market volatility led to a 6,4 percent decline in revenue, down to 94,7 million francs. however, expenses also increased significantly. personnel expenses climbed by 15,6 percent to 158 million francs. this was attributed to an increase in headcount (+7,4 percent to 1'176 full-time positions) and higher variable compensation. separately disclosed marketing expenses were raised by 18,2 percent to 34,7 million francs to capitalize on the momentum. balance sheet growth was also significant, increasing by 33,4 percent to 13,3 billion francs. the currency mix has changed as well: «due to increased activities in foreign securities and crypto assets,» the weight of the franc has decreased. new board member. designated board director at swissquote. (image: provided). the general meeting on may 8 will propose a dividend of six francs per share (swissquote shares are traded on the six swiss exchange, fitting for an online broker). additionally, hans-rudolf köng has been nominated for election to the board of directors. he will replace beat oberlin, who is not standing for re-election. köng was the long-time ceo of postfinance and currently holds several board positions, including serving as chairman of the board at neue bank in liechtenstein. more ambitious goals for 205. for 2025, swissquote aims to achieve net revenue of 675 million francs and a pre-tax profit of 355 million francs. the company’s goals are even more ambitious for 2028, with a new medium-term target of 500 million francs in pre-tax profit. by then, swissquote plans to further improve diversification and the composition of net revenue.
Online bank Swissquote, which maintains a strong presence in Singapore, expanded its business across nearly all segments in 2024 and set new strategic goals. A shifting perception of the cryptocurrency market contributed to a record-breaking year. The former CEO of PostFinance is also set to join Swissquote’s board of directors.
As announced in January, Swissquote has had an outstanding year. Last week the online bank published its 2024 annual report with detailed figures. Net revenue amounted to 661 million francs (+24,4 percent), pre-tax profit to 345,6 million francs (+35,3 percent), and net profit to 294,2 million francs (+35,2 percent).
Customer assets grew by 31,5 percent to 76,3 billion francs, including 8,3 billion francs in new money. The number of customer accounts increased by 75'000 to a total of 650'000.
Interest Income Also Increased
Unlike other banks, Swissquote was able to increase its interest income despite an unfavorable environment, rising by 5,2 percent to 224,2 million Swiss francs.
According to Swissquote, this was due to an increase in customer cash deposits and a favorable currency mix. Net commission income also rose by 24,7 percent to 178,2 million francs. Trading income saw an even stronger increase of 41,3 percent, reaching 78,3 million francs.
However, the undisputed star segment of 2024 was the cryptocurrency business. This sector experienced an impressive growth rate of 353,2 percent, contributing a substantial 85,5 million francs to total net revenue. Swissquote attributes this to the «global shift in perception» of the cryptocurrency market and the doubling of market capitalization.
More Spending on Staff and Marketing
The only setback occurred in foreign exchange trading (e-Forex), where low market volatility led to a 6,4 percent decline in revenue, down to 94,7 million francs.
However, expenses also increased significantly. Personnel expenses climbed by 15,6 percent to 158 million francs. This was attributed to an increase in headcount (+7,4 percent to 1'176 full-time positions) and higher variable compensation. Separately disclosed marketing expenses were raised by 18,2 percent to 34,7 million francs to capitalize on the momentum.
Balance sheet growth was also significant, increasing by 33,4 percent to 13,3 billion francs. The currency mix has changed as well: «Due to increased activities in foreign securities and crypto assets,» the weight of the franc has decreased.
New Board Member
Designated Board Director at Swissquote. (Image: provided)
The general meeting on May 8 will propose a dividend of six francs per share (Swissquote shares are traded on the SIX Swiss Exchange, fitting for an online broker). Additionally, Hans-Rudolf Köng has been nominated for election to the board of directors.
He will replace Beat Oberlin, who is not standing for re-election. Köng was the long-time CEO of Postfinance and currently holds several board positions, including serving as Chairman of the Board at Neue Bank in Liechtenstein.
More Ambitious Goals for 205
For 2025, Swissquote aims to achieve net revenue of 675 million francs and a pre-tax profit of 355 million francs. The company’s goals are even more ambitious for 2028, with a new medium-term target of 500 million francs in pre-tax profit.
By then, Swissquote plans to further improve diversification and the composition of net revenue.
swissquote benefits from shifted crypto view. online bank swissquote, which maintains a strong presence in singapore, expanded its business across nearly all segments in 2024 and set new strategic goals. a shifting perception of the cryptocurrency market contributed to a record-breaking year. the former ceo of postfinance is also set to join swissquote’s board of directors. as announced in january, swissquote has had an outstanding year. last week the online bank published its 2024 annual report with detailed figures. net revenue amounted to 661 million francs (+24,4 percent), pre-tax profit to 345,6 million francs (+35,3 percent), and net profit to 294,2 million francs (+35,2 percent). customer assets grew by 31,5 percent to 76,3 billion francs, including 8,3 billion francs in new money. the number of customer accounts increased by 75'000 to a total of 650'000. interest income also increased. unlike other banks, swissquote was able to increase its interest income despite an unfavorable environment, rising by 5,2 percent to 224,2 million swiss francs. according to swissquote, this was due to an increase in customer cash deposits and a favorable currency mix. net commission income also rose by 24,7 percent to 178,2 million francs. trading income saw an even stronger increase of 41,3 percent, reaching 78,3 million francs. however, the undisputed star segment of 2024 was the cryptocurrency business. this sector experienced an impressive growth rate of 353,2 percent, contributing a substantial 85,5 million francs to total net revenue. swissquote attributes this to the «global shift in perception» of the cryptocurrency market and the doubling of market capitalization. more spending on staff and marketing. the only setback occurred in foreign exchange trading (e-forex), where low market volatility led to a 6,4 percent decline in revenue, down to 94,7 million francs. however, expenses also increased significantly. personnel expenses climbed by 15,6 percent to 158 million francs. this was attributed to an increase in headcount (+7,4 percent to 1'176 full-time positions) and higher variable compensation. separately disclosed marketing expenses were raised by 18,2 percent to 34,7 million francs to capitalize on the momentum. balance sheet growth was also significant, increasing by 33,4 percent to 13,3 billion francs. the currency mix has changed as well: «due to increased activities in foreign securities and crypto assets,» the weight of the franc has decreased. new board member. designated board director at swissquote. (image: provided). the general meeting on may 8 will propose a dividend of six francs per share (swissquote shares are traded on the six swiss exchange, fitting for an online broker). additionally, hans-rudolf köng has been nominated for election to the board of directors. he will replace beat oberlin, who is not standing for re-election. köng was the long-time ceo of postfinance and currently holds several board positions, including serving as chairman of the board at neue bank in liechtenstein. more ambitious goals for 205. for 2025, swissquote aims to achieve net revenue of 675 million francs and a pre-tax profit of 355 million francs. the company’s goals are even more ambitious for 2028, with a new medium-term target of 500 million francs in pre-tax profit. by then, swissquote plans to further improve diversification and the composition of net revenue.
