Swissquote H1 2026 results showed client assets rose to a record CHF 96.3 billion, even as crypto income fell sharply and the bank cut its full-year outlook.
The total was 19.8% higher than a year earlier. Meanwhile, client accounts increased by 64,011 in six months to 1,220,818. That marked a 5.5% rise from the end of 2025.
Net new money reached CHF 5.1 billion. Although that was close to a company record, it was 2% lower than a year earlier. Swissquote said the asset growth came despite significant geopolitical uncertainty during the period.
Swissquote H1 2026 Revenue Mix
Net revenues for the first half came in at CHF 364.2 million, up 1.7% from a year earlier. Net fee and commission income rose 13% to CHF 123.7 million. In addition, net trading income increased 15.8%, net interest income grew 7.2%, and net eForex income climbed 9.1% on stronger volatility in precious metals and commodities.
Crypto income moved the other way. Net crypto assets income dropped 66.2% to CHF 14.6 million. Swissquote linked that fall to geopolitical tensions, higher interest rates, and a stronger US dollar that weighed on bitcoin and other digital asset prices.
The crypto figure also included a CHF 5.3 million negative mark-to-market adjustment. That adjustment related to the crypto inventory backing Swissquote’s exchange, SQX.
Guidance Cut After Crypto Weakness
Total expenses rose 4.6% to CHF 181.3 million. Higher depreciation, up 28.7%, and marketing costs, up 14.4%, drove much of the increase. Some of that came from the full consolidation of Yuh after Swissquote bought PostFinance’s remaining 50% stake in late 2025.
Pre-tax profit slipped 1.2% to CHF 182.9 million. However, the pre-tax margin stayed above 50%. Headcount also rose 13.7% to 1,511 full-time employees, which the company tied to 2025 hiring in technology and engineering for AI initiatives.
Swissquote H1 2026 also showed Yuh accounts rose 6.1% to 423,409, while client assets at the app grew 9.9% to CHF 4 billion. The unit posted a CHF 1 million pre-tax loss for the half, but the company said it remains on track to break even for the full year.
Swissquote’s capital ratio stood at 25.2% on June 30, while total balance sheet assets reached CHF 16.9 billion. Citing weaker crypto conditions, the bank cut its 2026 guidance to about CHF 730 million in net revenues from CHF 760 million, and to CHF 365 million in pre-tax profit from CHF 385 million.
You can access our other news on brokers and global market developments here.
Source: Finance Magnates
