A record year in 2021 helps Swissquote attain its medium-term profit target early.
Swissquote saw operating profit reach a record high of 223.3 million Swiss francs ($244.3 million) in 2021, more than doubling from 105.6 million the previous year, the firm said in its 2021 annual report released Thursday.
Target Exceeded
With that result, the Swiss provider of online financial and trading services reached its medium-term 200 million francs profit, which it had been looking to attain in 2024, early.
Assets
Net new money also reached record levels, with the firm pulling in 9.6 million francs in 2021, nearly double the 5.3 million from the year before, an 82 percent increase.
Overall client assets rose just over 40 percent to 55.89 billion francs from 39.8 billion the year before.
Dividend Increased
The board of directors will propose a dividend of 2.20 per share at the annual general meeting, representing an increase of 46.7 percent from the 2020 payout of 1.50.
Outlook
Swissquote said the strong trends seen last year continued into 2022, with 1.4 billion francs of new client money coming in during the first two months of the year. The company expects to «replicate its very successful year» of 2021 even in the face of a difficult market environment and current geopolitical uncertainty.
