7/27/2019 (5)Q2 .pdf

1/27

1

Results for theResults for the

first Half of 2011first Half of 2011

2929thth July 2011July 2011

7/27/2019 (5)Q2 .pdf

2/27

Swissquote: Strategic Positioning

Growth and Key Figures for the 1st Half of 2011

Client Groups

AgendaAgenda

2

Balance Sheet

7/27/2019 (5)Q2 .pdf

3/27

Swissquote Bank is growing strategically since 11 years in two directions:

New Services

Geographical Reach

Two cooperative ventures with major potential achieved in the 2nd quarter

Online Mortgages with BLKB (Basellandschaftliche Kantonalbank)

Swissquote: Strategic PositioningSwissquote: Strategic Positioning

3

Strategic partnership with Swiss Life in the area of bank products

The integration of ACM could be completely fulfilled on the 10th of June. The

activity of ACM did strongly contribute to the results of Swissquote in the

1st half of 2011.

7/27/2019 (5)Q2 .pdf

4/27

Online Mortgages with BLKBOnline Mortgages with BLKB

Cooperative venture with one of the few triple A banks

in Europe.

The service is in its launch phase and will continuously

be developed over the next month.

Well positioned prices 10 to 15 bps below the cheapest

mortgages in Switzerland.

The mortgages are booked on the balance sheet of

4

BLKB. Swissquote is providing sales and client relationmanagement. The margins are shared at equal basis.

Since the launch (7th June) already 300 mortgage

requests received, 60 mortgage contracts proposed

and 15 contracts signed.

BLKB has taken a 5% stake in Swissquote.

7/27/2019 (5)Q2 .pdf

5/27

Strategic partnership with Swiss LifeStrategic partnership with Swiss Life

Strategic partnership with Swiss Life in the area of

bank products.

Swissquote Bank will act as custodian bank for SwissLife and will handle the settlement and management of

saving and investment products.

Approximately 20000 saving, time deposits and fund

5

transferred to Swissquote Bank as of 1st January 2012.

More products and services to be developed in the

field of assurbanking, the distribution of bank services

via the insurance channel.

7/27/2019 (5)Q2 .pdf

6/27

GeographicalGeographical

ReachReach

EUEU

LicenceLicence

WhiteWhite

LabelsLabels

Swissquote: Strategic PositioningSwissquote: Strategic Positioning

6

ServiceService

LevelLevel

SIXSIXFundFund

ShopShop

MoreMore

MarketsMarkets

AMAM

ToolTool

TOFFTOFFSavingSaving

eForexeForex

(ACM)(ACM)

DubaiDubai

(Cat 4)(Cat 4)

ePrivate.ePrivate.BankingBanking

eMorteMort--

gagegage

CHCH

PrivatePrivate

BankBankSLSL

PartnerPartner--

shipship

7/27/2019 (5)Q2 .pdf

7/27

Growth and Key Figures for the 1Growth and Key Figures for the 1stst Half of 2011Half of 2011

7

7/27/2019 (5)Q2 .pdf

8/27

Revenues grew year-on-year by 36.1% to

CHF 67.5 m

Different levels of growth in the three

revenue segments:

Net fee and commission income: +2.3%

Interest income: +46.6%

Revenues & ProfitabilityRevenues & Profitability

0.0

10'000.0

20'000.0

30'000.0

40'000.0

50'000.0

60'000.0

70'000.0

80'000.0

H1 -2 00 7 H1 -2 008 H1 -2 00 9 H1 -2 01 0 H1 -2 01 1

Fee & Commission Interest TradingCHF '000

0.0

10'000.0

20'000.0

30'000.0

40'000.0

50'000.0

60'000.0

70'000.0

80'000.0

H1 -2 00 7 H1 -2 008 H1 -2 00 9 H1 -2 01 0 H1 -2 01 1

Fee & Commission Interest TradingCHF '000

8

Forex: +125.6%

Operating expenses increased due to

higher personnel expenses

(ACM takeover)

Total expenses: CHF 44.3 m slightly

lower than 1st quarter 2011

-50'000.0

-45'000.0

-40'000.0

-35'000.0

-30'000.0

-25'000.0

-20'000.0-15'000.0

-10'000.0

-5'000.0

0.0

H1 -2 00 7 H1 -2 00 8 H1 -2 00 9 H1 -2 01 0 H1-2 01 1

Marketing Other Operating Expenses PayrollCHF '000

-50'000.0

-45'000.0

-40'000.0

-35'000.0

-30'000.0

-25'000.0

-20'000.0-15'000.0

-10'000.0

-5'000.0

0.0

H1 -2 00 7 H1 -2 00 8 H1 -2 00 9 H1 -2 01 0 H1-2 01 1

Marketing Other Operating Expenses PayrollCHF '000

7/27/2019 (5)Q2 .pdf

9/27

Cost/Income Ratio stable at ~66%

Operating profit at CHF 23.1 m

(+ 32.1%)

Revenues & ProfitabilityRevenues & Profitability

0.0

5'000.0

10'000.0

15'000.0

20'000.0

25'000.0

30'000.0

35'000.0

H1-2 007 H1 -2 008 H1 -2 00 9 H1 -2 01 0 H1 -20 11

Operating Profit Net ProfitCHF '000

0.0

5'000.0

10'000.0

15'000.0

20'000.0

25'000.0

30'000.0

35'000.0

H1-2 007 H1 -2 008 H1 -2 00 9 H1 -2 01 0 H1 -20 11

Operating Profit Net ProfitCHF '000

9

Net profit at CHF 17.8 m (+29.9%) Strong CHF impacted the net profit by

some CHF 1.5m. About two third of the

Revenues are made in foreign

currencies (mainly EUR and USD).

43.9%

48.1%

57.9%

64.7%65.7%

40.0%

45.0%

50.0%

55.0%

60.0%

65.0%

70.0%

H1 -2 00 7 H1 -2 00 8 H1 -2 00 9 H1 -2 01 0 H1 -2 01 1

Cost/Income Ratio

43.9%

48.1%

57.9%

64.7%65.7%

40.0%

45.0%

50.0%

55.0%

60.0%

65.0%

70.0%

H1 -2 00 7 H1 -2 00 8 H1 -2 00 9 H1 -2 01 0 H1 -2 01 1

Cost/Income Ratio

7/27/2019 (5)Q2 .pdf

10/27

Constant growth in equity (CHF 218 m)

and equity surplus (CHF 125 m)

Equity and EPSEquity and EPS

10

Strong growth in earning per share at

CHF 1.24 in the first half of 2011

7/27/2019 (5)Q2 .pdf

11/27

23429 new accounts year-on-year

Clients and SegmentsClients and Segments

152'987

16'258

9'899 554

Trading

Saving

eForex

ePrivate

Banking

152'987

16'258

9'899 554

Trading

Saving

eForex

ePrivate

Banking

11

eForex clients

Aggregate of more than 179698

accounts

100'000

110'000

120'000

130'000

140'000

150'000

160'000

170'000

180'000

190'000

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

Total Accounts

100'000

110'000

120'000

130'000

140'000

150'000

160'000

170'000

180'000

190'000

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

Total Accounts

7/27/2019 (5)Q2 .pdf

12/27

Inflow of 94 million in the first

quarter of 2011

Assets and New MoniesAssets and New Monies

226.5

315.2

290.6240.3

515.1

329.9353.9

308.1

431.4

383.7

293.3

94.0

0.0

100.0

200.0

300.0

400.0

500.0

600.0

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

Net New MoniesCHF 'm

226.5

315.2

290.6240.3

515.1

329.9353.9

308.1

431.4

383.7

293.3

94.0

0.0

100.0

200.0

300.0

400.0

500.0

600.0

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

Net New MoniesCHF 'm

12

Inflow of CHF 50 million in thethree first weeks of July

1 billion net new monies expected

in 2011

7'720.4

0.0

1'000.0

2'000.0

3'000.0

4'000.0

5'000.0

6'000.0

7'000.0

8'000.0

9'000.0

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

Total AssetsCHF 'm

7'720.4

0.0

1'000.0

2'000.0

3'000.0

4'000.0

5'000.0

6'000.0

7'000.0

8'000.0

9'000.0

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

Total AssetsCHF 'm

7/27/2019 (5)Q2 .pdf

13/27

Revenues and Client GroupsRevenues and Client Groups

CHF000 Trading Saving eForex Total

Net Fee & Commission

Income33263.3 +2.3% 33263.3 +2.3%

Net Interest Income 5165.9 +49.4% 2674.9 +41.5% 7840.8 +11.6%

Trading Results 6220.4 +14.9% 20145.0 +221.5% 26365.4 +125.6%

Total 44649.5 +7.9% 2674.9 +41.5% 20145.0 +221.5% 67469.5 +36.1%

13

Different levels of growth from the three revenue segments

Strong CHF impacted Net Fee & Commission Income since 50% of the

transactions are settled in foreign currencies

Strong growth (+221.5%) in the eForex segment

7/27/2019 (5)Q2 .pdf

14/27

Client GroupsClient Groups

14

7/27/2019 (5)Q2 .pdf

15/27

15

7/27/2019 (5)Q2 .pdf

16/27

Trading AccountsTrading Accounts -- GrowthGrowth

1'000

2'000

3'000

4'000

5'0006'000

7'000

8'000

9'000

20'000

40'000

60'000

80'000

100'000

120'000

140'000

160'000

180'000

200'000

Trading Accounts Trading AssetsCHF m

1'000

2'000

3'000

4'000

5'0006'000

7'000

8'000

9'000

20'000

40'000

60'000

80'000

100'000

120'000

140'000

160'000

180'000

200'000

Trading Accounts Trading AssetsCHF m

16

152987 Trading accounts (+7.9%)

CHF 7.2 bn assets under custody (+11.3%)

Assets under custody lower than previous quarter. Difficult markets

are impacting the performance of the client portfolios

00

Q3-0

8

Q4-0

8

Q1-0

9

Q2-0

9

Q3-0

9

Q4-0

9

Q1-1

0

Q2-1

0

Q3-1

0

Q4-1

0

Q1-1

1

Q2-1

1

00

Q3-0

8

Q4-0

8

Q1-0

9

Q2-0

9

Q3-0

9

Q4-0

9

Q1-1

0

Q2-1

0

Q3-1

0

Q4-1

0

Q1-1

1

Q2-1

1

7/27/2019 (5)Q2 .pdf

17/27

Trading AccountsTrading Accounts -- TransactionsTransactions

5.0

10.0

15.0

20.0

25.0

30.0

35.0

100000

200000

300000

400000

500000

600000

700000

Equity Transactions tpcpy

5.0

10.0

15.0

20.0

25.0

30.0

35.0

100000

200000

300000

400000

500000

600000

700000

Equity Transactions tpcpy

17

Transactions per client per year reached lowest

value in the 2nd quarter at 11.1

425000 equity trades

0.00

Q1-0

5

Q2-0

5

Q3-0

5

Q4-0

5

Q1-0

6

Q2-0

6

Q3-0

6

Q4-0

6

Q1-0

7

Q2-0

7

Q3-0

7

Q4-0

7

Q1-0

8

Q2-0

8

Q3-0

8

Q4-0

8

Q1-0

9

Q2-0

9

Q3-0

9

Q4-0

9

Q1-1

0

Q2-1

0

Q3-1

0

Q4-1

0

Q1-1

1

Q2-1

1

0.00

Q1-0

5

Q2-0

5

Q3-0

5

Q4-0

5

Q1-0

6

Q2-0

6

Q3-0

6

Q4-0

6

Q1-0

7

Q2-0

7

Q3-0

7

Q4-0

7

Q1-0

8

Q2-0

8

Q3-0

8

Q4-0

8

Q1-0

9

Q2-0

9

Q3-0

9

Q4-0

9

Q1-1

0

Q2-1

0

Q3-1

0

Q4-1

0

Q1-1

1

Q2-1

1

7/27/2019 (5)Q2 .pdf

18/27

Saving AccountsSaving Accounts Growth and Total AssetsGrowth and Total Assets

50

100

150

200

250

300

350

400

450

500

2'000

4'000

6'000

8'000

10'00012'000

14'000

16'000

18'000

Saving Accounts Saving AssetsCHF m

50

100

150

200

250

300

350

400

450

500

2'000

4'000

6'000

8'000

10'00012'000

14'000

16'000

18'000

Saving Accounts Saving AssetsCHF m

18

16258 Saving accounts (+34.1%)

Conservative Growth: CHF 451.6 million assetsunder custody (+17.0%)

00

Q3-0

8

Q4-0

8

Q1-0

9

Q2-0

9

Q3-0

9

Q4-0

9

Q1-1

0

Q2-1

0

Q3-1

0

Q4-1

0

Q1-1

1

Q2-1

1

00

Q3-0

8

Q4-0

8

Q1-0

9

Q2-0

9

Q3-0

9

Q4-0

9

Q1-1

0

Q2-1

0

Q3-1

0

Q4-1

0

Q1-1

1

Q2-1

1

7/27/2019 (5)Q2 .pdf

19/27

Growth of Balance Sheet and Interest RevenuesGrowth of Balance Sheet and Interest Revenues

1'000

2'000

3'000

4'000

5'000

6'000

7'000

8'000

9'000

10'000

500.0

1'000.0

1'500.0

2'000.0

2'500.0

3'000.0

Total Balance Sheet Interest RevenueCHF m CHF '000

1'000

2'000

3'000

4'000

5'000

6'000

7'000

8'000

9'000

10'000

500.0

1'000.0

1'500.0

2'000.0

2'500.0

3'000.0

Total Balance Sheet Interest RevenueCHF m CHF '000

19

82.0%

14.3%

3.8%

CHF EUR USD

Growth in Interest revenues. Stronger

balance sheet

Revenues negatively impacted by the strong

CHF and the low interest rates

CHF 4.0 million revenues in the 2nd quarter

(+2.0%)

00.0

Q3-0

8

Q4-0

8

Q1-0

9

Q2-0

9

Q3-0

9

Q4-0

9

Q1-1

0

Q2-1

0

Q3-1

0

Q4-1

0

Q1-1

1

Q2-1

1

00.0

Q3-0

8

Q4-0

8

Q1-0

9

Q2-0

9

Q3-0

9

Q4-0

9

Q1-1

0

Q2-1

0

Q3-1

0

Q4-1

0

Q1-1

1

Q2-1

1

7/27/2019 (5)Q2 .pdf

20/27

eForex AccountseForex Accounts Growth and Total AssetsGrowth and Total Assets

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2'000

4'000

6'000

8'000

10'000

12'000

eForex Accounts eForex AssetsCHF m

20.0

40.0

60.0

80.0

100.0

120.0

140.0

160.0

2'000

4'000

6'000

8'000

10'000

12'000

eForex Accounts eForex AssetsCHF m

20

About 10000 active clients (+4.9% vs. previous quarter)

CHF 128 Mio. assets under custody.

0.00

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

0.00

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

7/27/2019 (5)Q2 .pdf

21/27

eForexeForex--KontenKonten HandelsvolumenHandelsvolumen

20.0

40.0

60.0

80.0

100.0

120.0

140.0

20

40

60

80

100

120

140

F X Volume Margin (DPM)CHF bn

20.0

40.0

60.0

80.0

100.0

120.0

140.0

20

40

60

80

100

120

140

F X Volume Margin (DPM)CHF bn

21

Volumes of CHF102.1 bn in the 2nd quarter

Expected total volume in 2011: CHF 450 bn (i.e. USD 550 Mia.)

Revenues of CHF 20.1 million with eForex clients

Stable margin of 100 per million (DPM)

0.00

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

0.00

Q3-08

Q4-08

Q1-09

Q2-09

Q3-09

Q4-09

Q1-10

Q2-10

Q3-10

Q4-10

Q1-11

Q2-11

7/27/2019 (5)Q2 .pdf

22/27

Balance SheetBalance Sheet

22

7/27/2019 (5)Q2 .pdf

23/27

Balance Sheet on 30Balance Sheet on 30thth June 2011June 2011

30.06.2011 31.03.2011 Chg 30.06.2011 31.03.2011

Assets

Cash & TBs with Central Bank 945.9 995.3 -49.4 37.6% 41.5%

Loans & advances to banks 649.4 470.3 179.1 25.8% 19.6%

Investment securities 671.7 681.4 -9.7 26.7% 28.4%Loans & advances to customers 124.8 131.7 -6.8 5.0% 5.5%

Immobilisations 42.1 40.9 1.2 1.7% 1.7%

Other assets 82.2 78.4 3.8 3.3% 3.3%

Total 2'516.1 2'398.0 118.1 100.0% 100.0%

Liabilites & Equity

CHF m Structure in %

Actual Actual

23

Due to customers :

Trading accounts 1'805.3 1'692.2 113.0 71.7% 70.6%Saving accounts 451.4 448.4 3.0 17.9% 18.7%

Other liabilities 40.7 46.3 -5.5 1.6% 1.9%

Equity 218.7 211.1 7.6 8.7% 8.8%

Total 2'516.1 2'398.0 118.1 100.0% 100.0%

Equity surplus 125.4 115.3 10.1 5.0% 4.8%

Tier 1 ratio 22.3% 20.7% 1.6%

Risk Weighted Assets 93.3 95.8

* Assuming interbanking and other financial markets functionning normally.

7/27/2019 (5)Q2 .pdf

24/27

Balance Sheet Structure on 30Balance Sheet Structure on 30thth June 2011June 2011

945.9; 37%

649.4; 26%

671.7; 27%124.8;

5%42.1; 2%

82.2; 3%

Structure of Assets

Cash & TBs with Central Bank Loans & advances to banks

Investment securities Loans & advances to customers

Imobilisations Other assets

24

7/27/2019 (5)Q2 .pdf

25/27

KeyKey FiguresFigures

25

7/27/2019 (5)Q2 .pdf

26/27

H1H1--20102010

+36.1%+36.1%

+29.9%+29.9%

+17.9m+17.9m

+4.1m+4.1m

67.5m67.5m

17.8m17.8m

+32.1%+32.1%+5.6m+5.6m23.1m23.1m

H1H1--20112011

RevenuesRevenues

Net rofitNet rofit

Operating profitOperating profit

Key Figures Q2Key Figures Q2--20112011

26

+15.0%+15.0%

+13.5%+13.5%

+23429+23429

+917m+917m

+19.4%+19.4%+35.6m+35.6m

179698179698

7720m7720m

218.7m218.7m

ClientClient acountsacounts

Total AssetsTotal Assets

EquityEquity

7/27/2019 (5)Q2 .pdf

27/27