“Football stands for passionate competition, the pursuit of triumph, and the spirit of enthusiasm shared by all. These are values that align perfectly with our company and our partnership with customers.”
Swissquote has announced the renewal of its sports sponsorship with the UEFA Europa League and UEFA Europa Conference League for another three seasons.
The online bank first entered an exclusive partnership with the UEFA in 2021, initially also for three years. The company has since further grown dynamically both in Switzerland and Europe.
Three more years
The massive media coverage of the two leagues across Europe supported Swissquote’s international expansion, according to the Swiss bank which decided to renew the sponsorship for another three years. Swissquote said it is looking forward to sharing in the excitement of the additional match days introduced by the new competition format.
Swissquote expects to leverage the partnership with UEFA to further grow its brand awareness across Europe and deepen its connection with its customers. The sponsorship agreement spans perimeter advertising and hospitality at all 342 games per season, along with close collaboration in social media and online marketing.
Marc Bürki, Chief Executive Officer of Swissquote, said: “Our partnership with UEFA has already significantly enhanced Swissquote’s brand awareness throughout Europe, transforming fans into loyal customers. Extending this agreement ensures the continuation of our success. Football stands for passionate competition, the pursuit of triumph, and the spirit of enthusiasm shared by all. These are values that align perfectly with our company and our partnership with customers. We are thrilled to renew our support for their favourite teams and meet them at the stadium.”
Guy-Laurent Epstein, UEFA marketing director, added: “We are excited to continue having Swissquote as a sponsor of the UEFA Europa League and UEFA Conference League for the new competition cycle, which will feature the new league phase format. Our partnership has proven successful for all sides, so we are very pleased to continue working together as we embark on the next phase of our journey.”
Swissquote operating revenue up by 28% in 2023
Earlier this year, Swissquote reported its operating revenue for the 12-month period ending December 31, 2023 at CHF 530 million (roughly $623 million). This figure is higher by 28 percent when weighed against the CHF 415 million it booked in 2022. The bank, based in Gland, western Switzerland, said its pre-tax profit for the year came at CHF 255 million ($300 million), up 36 percent from CHF 186.4 million ($201 million) the previous year.
As of 31 December 2022, client assets reached CHF 55.2 billion, out of which CHF 5 billion in new money it attracted in 2023. With a capital ratio of 25.7 percent, Swissquote says it is well positioned to benefit from higher market interest rates.
This solid performance was primarily attributed to non-transaction-based revenues, such as net interest income and custody fees. Interestingly, this segment outpaced transaction-based revenues for the first time, the company noted.
The first half of 2023 saw the net interest income escalate by an impressive 587.6% to CHF 102.7 million. In contrast, trading activity remained subdued, with the number of transactions decreasing by 26.7%. Nevertheless, there was a slight improvement compared to the second half of 2022.
Swissquote blamed clients’ cautious trading even in higher-risk asset classes such as crypto assets. Compared with the prior-year period, net crypto-assets income dipped by 62 percent in the last semester to CHF 7.5 million from CHF 19.5 million a year ago and CHF 63.2 million in 2021.
Other business highlights show that net trading income also dropped by 11 percent to CHF 26.7 million from CHF 30.7 million in H1 2022. Contrasting this decline, the net eForex income saw a modest increase by 1.1 percent to CHF 55 million from CHF 54.3 million a year ago.
As of 30 June 2023, the company’s client base expanded by 6.4% over the past year, with average assets per customer exceeding CHF 100,000. As a result, Swissquote’s balance sheet remained solid and liquid, with cash and balances held with central banks accounting for over 40% of total assets.
