Swissquote Yuh assets showed a wide gap at the end of June, with the mobile app holding 34.7% of total accounts but only 4.2% of client assets.
Swissquote reported more than 1.2 million accounts by June 30. Within that total, Yuh had 423,409 accounts and CHF4.01 billion in client assets. By contrast, Swissquote excluding Yuh had 797,409 accounts and about CHF92.26 billion in client assets.
That means each Yuh account held about CHF9,480 on average. Meanwhile, accounts outside Yuh held about CHF115,700 each. The difference came to 12.2 times, according to the figures cited in the study.
Swissquote Yuh Assets by Account
The report said this measure reflects asset density at one point in time. However, it does not show customer conversion rates or revenue and profit per client. The study also noted that account definitions may differ between the two businesses.
Younger accounts may have had less time to build balances. Additionally, a mobile app may draw users who start with smaller sums. Swissquote does not publish the cohort data, funded-account ratio, or segment economics needed to separate those factors.
2028 Targets Put Focus on Growth Quality
The figures matter because Swissquote has set 2028 targets of CHF950 million in net revenue and CHF500 million in pre-tax profit. Meanwhile, its revised 2026 guidance stands at about CHF730 million in net revenue and CHF365 million in pre-tax profit.
The report said account growth alone is not enough. New relationships must add deposits, trading activity, custody assets, or other revenue fast enough to support those goals. Full consolidation of Yuh since July 2025 has lifted Swissquote’s reported reach, but the company has not disclosed Yuh’s standalone H1 2026 profit contribution.
The study added that comparisons across brokers can also mislead when firms use different customer and asset measures. Therefore, it said trends within the same company offer a more reliable view than direct rankings built on unlike definitions.
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Source: Finance Magnates
