Swissquote reported resilient first-half 2026 results on August 13, posting record client assets of CHF 96.3 billion and adding over 64,000 accounts despite macroeconomic uncertainty and a sharp downturn in the cryptocurrency market. The Swiss fintech firm maintained profitability with a pre-tax profit of CHF 182.9 million, largely flat year-over-year, while executing strategic investments in artificial intelligence and technology infrastructure.
- Client Assets: CHF 96.3 billion (up 19.8% year-over-year)
- Net New Money: CHF 5.1 billion
- Total Accounts: 1,220,818 (up 5.5% in six months)
- Net Revenues: CHF 364.2 million (up 1.7%)
- Pre-tax Profit Margin: 50.2%
- 2026 Full-Year Guidance: CHF 365 million pre-tax profit
Revenue growth remained broadly intact across most business lines, with net fee and commission income climbing 13.0% to CHF 123.7 million, net trading income jumping 15.8%, and net interest income rising 7.2%. However, cryptocurrency assets proved the significant drag on performance, with net crypto assets income plummeting 66.2% to CHF 14.6 million, reflecting sustained risk aversion, asset price declines, and weakening client participation. The decline included a CHF 5.3 million negative mark-to-market adjustment on Swissquote‘s SQX crypto-exchange inventory.
Operating expenses increased 4.6% to CHF 181.3 million, driven primarily by higher depreciation costs and marketing investments. Depreciation surged 28.7% following the full consolidation of fintech platform Yuh and roughly CHF 50 million in acquired intangible assets. Headcount expanded 13.7% to 1,511 full-time equivalents, supporting medium-term growth initiatives in technology, data engineering, and artificial intelligence deployment. The company expects initial productivity benefits to emerge in the second half of 2026, with software development projects anticipated to drive operating leverage improvements over time.
Despite near-term macro uncertainty potentially delaying cryptocurrency market recovery, Swissquote maintained its growth trajectory through account expansion and net new money inflows. The firm narrowed its full-year 2026 guidance to CHF 365 million in pre-tax profit, factoring in prolonged crypto market weakness. With client assets approaching the CHF 100 billion milestone, Swissquote continues positioning itself as a diversified digital banking and investment platform serving international clients.
