1

Agenda

Key messages

Results for the 1st quarter 2013

Client Groups

Balance Sheet

Key Figures

Operating Profit of CHF 6.8m

Solid results in a slowly recovering economical environment

Strong Net New Monies

Strong Net New Monies of CHF 241m - Total Assets under Custody of CHF 9.1bn

Net new monies of CHF 241 million in the first

quarter 2013

Total assets under custody crossed the 9 bn

mark for the first time : CHF 9108 million.

2865 new client accounts

2865 new client accounts over the last 12 months to 203005 in total.
1423 in first quarter 2013.

Successful partnership with BLKB

Successful partnership with BLKB
Around CHF 200m mortgages

Swiss DOTS

25781 transactions in 1st quarter

2013; 41000 products and 14.7%
market share

Further development of the platform

during 2013

Banking Services for Expats in the Middle East

Exclusive Swissquote banking
services targeting expats in the
Middle East
Local Support from our licensed
(DFSA CAT 4 Licence) subsidiary in
the Dubai International Financial
Centre
All-In-One multi currency account for
Trading and Savings
Already about 100 active clients

New website www.swissquote.ae

Swissquote Magazine in English to support sales

and marketing efforts

Results for the 1st quarter 2013

Revenues & Profitability

8.4%

10

New: Operating Revenues and total net revenues

to better measure operational performance and
unrealised Fair Value adjustments.
(in preparation for IFRS 9)

Total Operating Revenues at 28.7m

(+1.9% vs., Q1-2012, +9.1% vs. Q4-2012)

Total Net Revenues at 28.4m

(-12.8% vs., Q1-2012, +8.4% vs. Q4-2012)

Pre-tax Profit at 6.8m with margin of 24.0%

Net Profit at 5.5m with margin of 19.5%

Equity and Earnings per Share

11

Adoption of Basel III framework

Solid core capital ratio (CET 1) of 25.4%

Total equity increases to CHF 245.3 million

Earnings per share at CHF 0.38 for the first

quarter 2013

Expenses & Profit Margin

12

Controlled costs at CHF 21.6 million

(+3.4% vs. Q4-2012, +1.4% vs. Q1-2012)

Pre-tax profit margin of 24.0%

Revenues and Client Groups

13

Total revenues are -2.8% lower than in the previous year

Trading Segment with a positive growth (+15.8%) due to a a better trading activity

Forex & Trading Income have been impacted by the unrealised fair value adjustment which
represented a negative impact of around CHF 0.3 million during the first quarter 2013
(compared to the positive impact of CHF 1.0 million in Q1-2012)

Client Groups

14

15

Trading Accounts - Growth

17

160978 Trading accounts (+0.9 % vs. Q1-2012)

Trading assets at CHF 8.3 billion (+8.7 % vs. Q1-2012)

Average assets per account at ~ CHF 51.6

Trading Accounts - Transactions

18

Transactions per client per year at the highest level since Q3-2011 at 13.0

Total number of transactions at around 520000 during the first quarter 2013
(+4.1% compared to the previous year)

Saving Accounts Growth and Total Assets

19

30153 Saving accounts

Stable Saving assets

Growth of Balance Sheet

20

Total Balance Sheet of CHF 2.8 bn (+ 2.8% vs. Q4-2012)

eForex Accounts Growth and Total Assets

21

11067 active clients

CHF 127.9 million eForex assets (+5.6% vs. Q1-2012)

eForex Accounts Volumes

22

Total volumes for the 1st quarter 2013 at CHF 66.5 billion

Activity revenues reached CHF 6.8 million

Balance Sheet

23

Balance Sheet on 31st March 2013

Actual
31.03.2013
31.03.2012*

Chg

Assets
Cash & TBs with Central Bank
Loans & advances to banks
Investment securities
Loans & advances to customers
Fixed assets
Derivatives financial instruments
Other assets

1'463.1
215.4
838.2
106.1
70.2
35.0
63.7

1'340.9
321.0
802.3
106.6
57.2
26.7
59.9

122.2
-105.6
35.9
-0.5
13.0
8.3
3.8

Total Assets

2'791.7

2'714.6

77.1

Liabilites & Equity

Due to customers :
Trading accounts
Saving accounts
Derivatives financial instruments
Other liabilities
Equity

2'068.4
433.7
3.8
40.5
245.3

2'007.6
416.3
11.5
41.0
238.2

60.8
17.4
-7.7
-0.5
7.1

Total Liabilities & Equity

2'791.7

2'714.6

77.1

* Due to revised IAS19 standard, comparative figures reported in our Q1-2013 Financial Report may differ from proforma figures disclosed here
above (see note 9 of our Q1-2013 Financial Report)

24

Balance Sheet Structure on 31st March 2013

* Due to revised IAS19 standard, comparative figures reported in our Q1-2013 Financial Report may differ from proforma figures disclosed here
above (see note 9 of our Q1-2013 Financial Report)

25

Key Figures

26

Key Figures for the first quarter 2013

Comparison with Previous Year
Proforma
Q1-2012*

Change

Change [%]

14'689.5
3'917.9
10'104.4

14'132.0
4'243.5
9'800.9

557.5
(325.6)
303.5

3.9%
-7.7%
3.1%

28'711.8

28'176.4

1.9%

CHF'000

Q1-2013

Net Fee & Commission Income

Interest Income, net
Trading Results
Total Operating Revenues
Unrealised Fair value
Total Net Revenues

Payroll & Related Expenses

Other Operating Expenses (incl. Depr. & Provision)
Marketing Expenses
Total Expenses

Comparison with Previous Quarter

(323.1)
28'388.7

535.4

Proforma
Q4-2012*

Change

Change [%]

14'689.5
3'917.9
10'104.4

12'968.1
3'975.0
9'379.2

1'721.4
(57.1)
725.2

13.3%
-1.4%
7.7%

28'711.8

26'322.3

2'389.5

Q1-2013

1'016.4

(1'339.5)

131.8%

29'192.8

(804.1)

-2.8%

286.4
(286.1)
(295.3)

-2.9%
3.5%
9.5%

(9'652.6)
(8'521.0)
(3'406.4)

(8'946.2)
(8'382.9)
(3'547.1)

(295.0)

1.4%

(21'580.0)

(20'876.2)

(1'099.1)

-13.9%

6'808.7

(9'652.6)
(8'521.0)
(3'406.4)

(9'939.0)
(8'234.9)
(3'111.1)

(21'580.0)

(21'285.0)

(323.1)
28'388.7

Pre-tax Profit

6'808.7

7'907.8

Income Taxes

(1'275.8)

(1'606.5)

330.7

-20.6%

(1'275.8)

5'532.9

6'301.3

(768.4)

-12.2%

5'532.9

Net Profit
Pre-tax Profit Margin
Net Profit Margin
Weighted average number of ordinary shares
Earning per share

26'180.3

5'304.1
(927.9)
4'376.2

9.1%

(181.1)

127.5%

2'208.4

8.4%

(706.4)
(138.1)
140.7

7.9%
1.6%
-4.0%

(703.8)

3.4%

1'504.6

28.4%

(347.9)

37.5%

1'156.7

26.4%

-0.1%
24.9%

24.0%
19.5%
14'449'264
0.38

27.1%
21.6%
14'461'990
0.44

(12'726)
(0.06)

-0.1%
-13.0%

24.0%
19.5%
14'449'264
0.37

20.3%
16.7%
14'463'461
0.30

(14'197)
0.07

31.03.2013

31.03.2012

Change

Change [%]

31.03.2013

31.12.2012

Change

Change [%]

1'036
151
197
39

0.6%
0.5%
1.8%
5.1%
0.7%

Trading Accounts [units]

Saving Accounts [units]
eForex Accounts [units]
ePrivate Banking Accounts [units]

160'978
30'153
11'067
807

159'592
28'840
11'023
685

Total Number of Accounts

1'386
1'313
44
122

0.9%
4.6%
0.4%
17.8%

160'978
30'153
11'067
807

159'942
30'002
10'870
768

1.4%

203'005

201'582

1'423

8.7%
-5.8%
5.6%
14.2%

8'259.2
694.9
127.9
25.8

7'740.0
695.1
123.4
22.6

519.2
(0.2)
4.5
3.2

7.4%

9'107.8

8'581.1

526.7

203'005

200'140

2'865

Trading Assets [CHF m]

Saving Assets [CHF m]
eForex Assets [CHF m]
ePrivate Banking Assets [CHF m]

8'259.2
694.9
127.9
25.8

7'597.3
737.4
121.1
22.6

661.9
(42.5)
6.8
3.2

Total Assets under Custody [CHF m]

9'107.8

8'478.4

629.4

Total Net New Monies [CHF m]

eForex Volume [CHF bn]
Total Equity [CHF m]*
Common Equity Tier 1 ratio (%)**
Total Headcounts - FTE

(142.0)

240.8
66.5
245.3
25.4%
389

536.6
67.2
238.2
21.5%
358

(295.8)
(0.7)
7.1
3.9%
31

-55.1%
-1.0%
3.0%
18.1%
8.7%

240.8
66.5
245.3
25.4%
389

32.7
74.7
242.6
23.2%
368

208.1
(8.2)
2.7
2.2%
21

* Due to revised IAS19 standard, comparative figures reported in our Q1-2013 Financial Report may differ from proforma figures disclosed here above (see note 9 of our Q1-2013 Financial Report).
** At 1st January 2013, Basel III Framework was implemented (Comparative figures in accordance with Basel II).

27

6.7%
0.0%
3.6%
14.2%
6.1%
636.4%
-11.0%
1.1%
9.5%
5.7%