H1 key highlights: 1) FY-guidance down to ~CHF190m (CHF225m previously) demonstrating the resilience of the business model in challenging markets; 2) Crypto-related commission income down by 69% y/y which is the major pain point; 3) NII on the rise with further upside in H2 22 and 2023 in particular; 4) Client growth and NNM inflow trends intact; 5) CET1 at 25.7%, down 50bps, driven by Key Trade Bank integration. View: Shares are down 46% y-t-d while management is guiding for a ~16% pre-tax prof ....
10 Aug 2022
H1: Moderate guidance cut vs. sharp share price drop
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
H1: Moderate guidance cut vs. sharp share price drop
Swissquote Group Holding Ltd. (SQN:SWX) | 0 0 0.0%
- Published:
10 Aug 2022 -
Author:
Blieffert Christoph CB -
Pages:
8
H1 key highlights: 1) FY-guidance down to ~CHF190m (CHF225m previously) demonstrating the resilience of the business model in challenging markets; 2) Crypto-related commission income down by 69% y/y which is the major pain point; 3) NII on the rise with further upside in H2 22 and 2023 in particular; 4) Client growth and NNM inflow trends intact; 5) CET1 at 25.7%, down 50bps, driven by Key Trade Bank integration. View: Shares are down 46% y-t-d while management is guiding for a ~16% pre-tax prof ....