After Swissquote posted solid record in 2021, the company also proposed additional board members, including Demetra Kalogerou and Paolo Buzzi.
Swiss-based online broker Swissquote reported record growth in 2021 with a substantial YoY increase in operating income. Based on the latest annual results, the company posted an operating income of CHF 479.6 million, or 49% higher than in 2020. The increase also occurred in the net income sector, in which profit before tax experienced a sharp spike during this period. After experiencing solid customer growth during the first two months of 2022, Swissquote expects net revenue of CHF475 million in 2022.
Profit margin before tax increased by 47.3% thanks to higher trading volume and the addition of 77,599 live accounts. The Board of Directors will propose at the Annual General Meeting that the dividend will be increased by 46.7% from CHF1.50 to CHF2.20 per share.
Swissquote New Board Members
In addition to solid financial results, Swissquote also announced several organizational changes. The financial services provider has appointed Demetra Kalogerou, former Executive Chairwoman of the Cyprus Securities and Exchange Commission (CySEC), to become an additional member of the Board of Directors. Paolo Buzzi will also be proposed as a new member of the Board of Directors at the next Annual General Meeting.
Markus Dennler, Chairman of Swissquote's Board of Directors said that the proposed candidates will significantly strengthen the Board of Directors to pursue Swissquote's growth. In addition, the broker also does not forget to thank Martin Naville for his significant contribution to the company over the last 15 years.