Swissquote Files Its Full Accounts Made Up to December 2020
The UK Companies House has notified that Swissquote, a Switzerland-based online trading platform, filed the full accounts of its annual report for the year ended on December 31, 2020.
According to the Companies House website, the document is in the processing stage and will be available in ten days. As Finance Magnates reported in March, the company had a significant jump in net revenues and net profit and exceptional growth in the number of active clients in 2020.
Swissquote also highlighted that its net revenues were CHF 317.3 million in 2020, a 37.6% jump compared to 2019. Net profit exceeded the expectations and reached CHF 91 million, up more than 100% compared to 2019.
“2020 was an exceptional year in a large number of respects. Swissquote achieved strong and fundamental growth and can for the first time report over 400,000 client accounts. Client assets rose to a record CHF 39.8 billion on the back of an organic net new money inflow of CHF 5.3 billion. Net revenues rose by 37.6 percent compared with the previous year to CHF 317.3 million, while pre-tax profits more than doubled year-on-year to CHF 105.6 million,” the trading platform commented at that time.
Swissquote Recent Partnerships
Last month, Swissquote announced launching a collaborative digital banking app named “Yuh,” jointly with PostFinance, the financial services unit of Swiss Post. Due to the Coronavirus restrictions, both companies launched the app at a digital event on May 11, 2021. Furthermore, at the end of last year, the trading platform teamed up with the American electric car maker, Tesla, led by Elon Musk.
Swissquoted aimed to help Swiss clients take advantage of digital leasing offerings for those interested in purchasing new cars as part of their expansion into the automotive industry and the credit sector.
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