Switzerland’s leading bank in online trading services Swissquote (SWX:SQN) today issued a rosy forecast for its financial results for the first half of 2021.

The strong organic growth that has been ongoing for months continues at Swissquote, the company says. Since the beginning of the year, Swissquote has been registering a massive inflow of new clients and new assets. The first months of 2021 have seen strong trading activities in Swissquote’s main revenue segments (fee and commission, eForex and cryptocurrencies). As a result, Swissquote expects to achieve record half-year results.

Net revenues for the first half of 2021 are estimated at around CHF 260 million (H1-2020: CHF 160.7 million) while pre-tax profit is expected to exceed CHF 130 million (H1-2020: CHF 58.4 million).

The guidance for 2021 reported on March 18, 2021 will be significantly revised upwards as part of the publication of the half-year results on August 6, 2021.

Let’s note that Swissquote posted record results for 2020.

At CHF 321.8 million (CHF 239.9 million), operating revenues were at their highest level to date, having risen by 34.2% year-on-year. Net revenues were up by 37.6% on the previous year to CHF 317.3 million (CHF 230.6 million). Net fee and commission income (excluding cryptocurrencies) rose by 68.5% to CHF 146.0 million (CHF 86,6 million) due to the strong growth in trading accounts and the increased trading activity on those accounts. The cryptocurrency business increased by 154.3% to CHF 16.0 million (CHF 6.3 million).

Net eForex income climbed by 25.5% to CHF 107.3 million (CHF 85.5 million) thanks to positive growth in eForex volumes.