Switzerland’s leading bank in online trading services Swissquote (SWX:SQN) has marked a milestone, as its market capitalisation has reached CHF 2 billion.

The company has confirmed the achievement on social media:

“Swissquote’s market capitalisation has just reached CHF 2 billion! Who would have thought that we would arrive at this milestone when we entered the market in 1996. This would not have been possible without you. Let’s continue to challenge the code to build the bank of tomorrow”.

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 percent 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 per- cent 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.

For 2021, Swissquote is expecting to record about 15% growth in revenues and 23% growth in pre-tax profit thanks to high net new money inflow and positive trading activity since the beginning of the year. Net revenues and pre-tax profit are predicted to come in at CHF 365 milllion and CHF 130 million respectively.

Swissquote aims to post further growth records: for 2024 it is targeting revenues of CHF 500 million and pre-tax profit of CHF 200 million.