Swissquote Reports Revenue Growth in H1, but Drop in Profits Due to MIG M&A
- The costs of acquisition and integration of MIG Bank led to an 18% decline in net profit for the Swissquote group despite an increase in net revenues of 16.8% Year-on-Year to CHF 70.3 million in H1 2014.
Swiss FX broker and online bank, Swissquote, has announced mixed results for the first half of 2014. The Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term and integration of MIG Bank is behind schedule and is the main reason given by the group for both the growth in revenues and expenses.
Swissquote failed to reach its goal of $500 billion trading volume in H1 (it was actually 12.5% below), which it blamed on low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and moved the volume goal to H2 2014.
Key Metrics in H1 2014:
- Total net revenue up by 16.8%
- Net profit down by 18%
- New accounts up by 7%
- eForex volume reached $437.7 billion
- Net eForex income grew by 84.7%
- Assets under custody increased by 16.9%
The integration of MIG Bank which was acquired at the end of September 2013 is behind the schedule the group set, but Swissquote now states the integration will be completed by the end of the third quarter of 2014.
Swissquote Results H1 2014:
Swiss FX broker and online bank, Swissquote, has announced mixed results for the first half of 2014. The Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term and integration of MIG Bank is behind schedule and is the main reason given by the group for both the growth in revenues and expenses.
Swissquote failed to reach its goal of $500 billion trading volume in H1 (it was actually 12.5% below), which it blamed on low Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term and moved the volume goal to H2 2014.
Key Metrics in H1 2014:
- Total net revenue up by 16.8%
- Net profit down by 18%
- New accounts up by 7%
- eForex volume reached $437.7 billion
- Net eForex income grew by 84.7%
- Assets under custody increased by 16.9%
The integration of MIG Bank which was acquired at the end of September 2013 is behind the schedule the group set, but Swissquote now states the integration will be completed by the end of the third quarter of 2014.
Swissquote Results H1 2014: