Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Swissquote is still pulling in clients and money.
The problem is that crypto stopped pulling its weight. Investors looked past the record assets and focused on the guidance cut. When a growth stock says "still good, just less good," the market tends to hear the second part louder.
Client assets rose to a record CHF 96.3 billion (about $118.5 billion), up nearly 20% from a year earlier and close to the CHF 100 billion mark. The online bank added 64,011 accounts in six months, taking the total to 1.22 million, while net new money reached CHF 5.1 billion, one of its best half-year inflow performances. Net revenue rose 1.7% year on year to CHF 364.2 million.
Pre-tax profit was almost flat at CHF 182.9 million, with the pre-tax profit margin holding above 50%. Net profit slipped to CHF 153.6 million from CHF 158.2 million a year earlier. Net crypto assets income dropped 66.2% to CHF 14.6 million as bitcoin and other digital assets weakened amid geopolitical tension, higher interest rates and a stronger dollar.
Crypto trading volumes also fell sharply, with FNG reporting monthly volumes down 60% from the second half of 2025. Swissquote cut its 2026 guidance. It now expects net revenue of about CHF 730 million, down from CHF 760 million, and pre-tax profit of about CHF 365 million, down from CHF 385 million.
Some reports put the market reaction at around a 10% to 13% share-price drop. Swissquote's results show the upside and downside of being a diversified trading platform with a crypto kicker. The core business looks healthy.
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