Swissquote, an online financial trading services provider, announced on Thursday its yearly financial results for 2021. The company reported record results for the period, beating its revenue and profit guidance.
The net revenue of the broker for the year came in at CHF 472 million, which is almost 49 percent higher than the previous year’s figure, according to the official press release shared with Finance Magnates.
The Switzerland-headquartered company generated a pre-tax profit of CHF 223 million for the year. This number came in more than 111 percent higher than CHF 105.6 million it generated in 2021, which was a record at that time.
The company highlighted that the record results for the year were driven by customer growth and organic net new money inflow of CHF 9.6 billion, which jumped from the previous year’s CHF 5.3 billion. Also, the client asset on the trading platform jumped above CHF 55 billion, compared to 2021’s CHF 39.8 billion.
Beating Guidance
The broker closed the record year after a strong half-year in the first six months of 2021. For that period, it reported CHF 260 million in net revenue and over CHF 130 million in pre-tax profits. The latest yearly numbers even exceeded the company’s own guidance released earlier in August.
Meanwhile, Swissquote is focused on its expansion and already taking steps to grow its market footprint within Europe. Earlier this month, it finalized the acquisition of Keytrade Bank Luxembourg, a company with almost EUR 1.7 billion in assets under custody.
Furthermore, it is expanding its products in both contracts for differences (CFDs) and cryptocurrency markets and is strengthening the brand with sports sponsorships.
