Swissquote reports record revenue and profit growth in 2024
Swissquote eyes CHF 500M profit by 2028
Swissquote, the Swiss-based online banking and trading group, has delivered its strongest financial performance to date, closing 2024 with record-high figures in revenue, profit, and client asset growth.
The results outlined in the annual report not only highlight a successful fiscal year but also lay the foundation for ambitious plans for further business expansion.
For the full year 2024, Swissquote reported revenue of CHF 661 million, marking a 24.4% increase compared to the previous year. Net profit reached an all-time high of CHF 294 million, driven by a diversified income structure and robust client activity. Pre-tax profit amounted to CHF 345.6 million, exceeding most analyst forecasts and nearly reaching the company’s 2025 target of CHF 350 million.
Client base and asset growth
A key growth driver was the sharp increase in client assets, which rose by 31.5% year over year to CHF 76.3 billion. This was largely fueled by CHF 8.3 billion in net new money inflows. In addition, over 75,000 new accounts were opened, bringing the total number of accounts to 650,089—underscoring Swissquote’s expanding market share and growing investor trust.
Revenue breakdown: crypto, fees, interest, and Yuh
Crypto trading showed exceptional momentum, with income from digital asset operations surging by 353.2% to CHF 85.5 million—representing 13% of total revenue. Average monthly crypto volumes rose from CHF 1.01 billion in H1 to CHF 1.53 billion in H2.
Fee and commission income totaled CHF 178.2 million (+24.7%), while net interest income increased by 5.2%, despite declining interest rates—supported by higher client deposit volumes and a favorable currency mix.
Swissquote’s mobile finance app Yuh also exceeded expectations by reaching profitability ahead of schedule. Client assets doubled to CHF 2.8 billion (+101.6%), and user numbers climbed to 285,000 (+48%).
Outlook, dividends, and board changes
For 2025, Swissquote forecasts revenue of CHF 675 million and pre-tax profit of CHF 355 million. By 2028, the company aims to achieve CHF 500 million in pre-tax profit. The Board of Directors has proposed a dividend of CHF 6.00 per share, equivalent to 30% of net profit.
Board changes are also anticipated, with Hans-Rudolf Kéng nominated to replace Beat Oberlin, strengthening strategic leadership as Swissquote moves toward its new growth objectives.
Swissquote’s financial success underscores its position as a leading global player in digital banking.
