Swiss online banking pioneer Swissquote achieved record revenue and net profit in the first half of 2025. According to FX News Group, the company reported CHF 358.2 million (US$445 million) in revenue for H1 2025, up 4 % from the second half of 2024, while net profit reached CHF 158.2 million (US$196 million), a 6 % increase. The performance marked the sixth consecutive half‑year period of record results. Trading income surged 46.4 % year‑over‑year, buoyed by higher foreign‑currency‑denominated activity and stronger crypto revenues (CHF 43.1 million, up 22.7 %). Net interest income remained stable as customer deposits grew, but eForex income declined 11.3 % due to higher margin requirements amid volatile markets. The firm continued to invest aggressively; expenses jumped 17.9 % to CHF 173.5 million as Swissquote added 50 technology staff and expanded international operations. Nevertheless, pre‑tax profit still set a record at CHF 185.2 million.
Swissquote’s growth stems in part from rapid client acquisition. By mid‑2025, the bank managed over 708,000 accounts, having added more than 58,000 new customers in six months. Client assets climbed to CHF 80.4 billion, thanks to CHF 5.2 billion in net new money. Monthly client trading volumes averaged US$105 billion, slightly below 2H‑2024 levels but still robust. Crypto volumes decreased from the previous half, though crypto trading still contributed a noteworthy 12 % of revenue. CEO Marc Bürki indicated that investments in artificial intelligence and platform scalability will support further growth.
To sustain this momentum, Swissquote has significantly increased spending on staffing and infrastructure. The H1 results show that the company’s headcount rose to 1,329 full‑time equivalents, including 60 temporary staff to handle seasonal peaks. Payroll and related expenses grew 17.1 %, while marketing costs climbed 22.1 % year-over-year. Additional operating costs and depreciation increased due to higher provision costs and ongoing capital expenditure, highlighting Swissquote’s commitment to building scalable systems. These investments come as the bank fully integrates the Yuh app: in July 2025, Swissquote acquired PostFinance’s stake in Yuh, bringing the total number of client accounts to well over one million. Management now expects net revenues of around CHF 700 million and pre‑tax profit of CHF 365 million for 2025, both surpassing initial guidance. While higher spending may compress margins in the short term, Swissquote believes that investing ahead of growth will enable it to meet rising customer demand and defend its leading position in Switzerland’s competitive digital‑banking arena.
On the executive front, Swissquote appointed Jan De Schepper, its Chief Sales and Marketing Officer, as CEO of Yuh, the bank’s consumer‑facing digital banking app. De Schepper assumed the role after previous CEO Markus Schwab left in August. He will continue to serve as Swissquote’s Chief Sales and Marketing Officer while overseeing Yuh’s product strategy. Swissquote CEO Marc Bürki said the dual role is designed to integrate Yuh more closely with Swissquote’s core trading platform, aligning product roadmaps and branding. Yuh, launched in 2021 as a joint venture with PostFinance, provides banking, investing and crypto services via a mobile app. The bank noted that the app turned profitable in 2024, with account growth of 48 % and profits of CHF 1.7 million.
Swissquote’s management is also responding to changing customer expectations. The company has emphasised expanding its technology teams, experimenting with AI‑driven tools and exploring new asset classes. At the same time, it is ramping up marketing and product integration, evidenced by the Yuh leadership shake‑up. By combining record profitability with strategic hiring and product innovation, Swissquote aims to defend its lead in Switzerland’s competitive digital banking space. The main risks revolve around maintaining momentum in volatile markets and balancing heavy investment with profitability. Still, Swissquote’s consistent earnings growth and proactive leadership changes suggest it is positioning itself to capture further market share as European retail investors increasingly migrate online.
