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TradeXBank announces half-year results 03.09.2024, 10:30 Uhr von EQS News Jetzt kommentieren: 0

TradeXBank AG / Key word(s): Quarterly / Interim Statement/Half Year Results
TradeXBank announces half-year results

03.09.2024 / 10:30 CET/CEST


  • Net income of CHF 4.5m compared to CHF 0.6m in the first half 2023.
  • Total revenue of CHF 19.3m up 27 % reflecting improved business momentum.
  • Well positioned to capture future growth due to our focus on commodity trade finance.

Zurich, 3 September 2024 – During the first six months of 2024, the commodity market faced significant volatility driven by ongoing geopolitical tensions, fluctuating energy prices, climate change, and the ongoing transition to renewable energy. Remaining high interest rates and sticky inflation in the major markets and the economic slowdown in China represent key challenges for both traders and banks in the commodities market resulting in slightly lower trading volumes during the first half of 2024.

 

Camille Sednaoui, CEO of TradeXBank says: “Our results are a great achievement on the back of a challenging first half of the year. We capitalized on market opportunities, providing clients with tailored solutions while carefully managing risks. As we look into the future, we benefit from a strong pipeline and are confident in our ability to further improve our market share and continue our growth in line with our ambitious plans.
Our competitive edge lies in our specialization in commodity trade finance that sets us apart from competitors. Our dedicated infrastructure enhances our speed to market and allows us to swiftly adapt to market dynamics. It allows us to quickly address our client’s funding gap left by major players who have shifted their focus towards large corporate lending.”

 

Total revenue increased by 27% driven mainly by higher financing volumes. The significant increase in transactions reflects our ability to rebuild our business. Capital remains strong reflecting the ample lending capacity of our balance sheet.

 

Key figures (YTD)

H1 2024

H1 2023

Total revenues

19.3

15.2

Net income

4.5

0.6

Bank’s capital (incl. statutory capital reserves)

570

570

Total assets

685

680

Numbers in CHF millions

 

Outlook

Looking ahead, TradeXBank is well-positioned for continued growth, despite ongoing global challenges. The global commodity industry’s projected growth offers substantial opportunities, especially with TradeXBank’s strategy to expand beyond the Swiss market to regions like the EU, UAE and Singapore. Additionally, TradeXBank’s expertise in corporate banking and international trade further enhances its growth potential in a market where demand exceeds supply.

About TradeXBank

TradeXBank is a FINMA licensed, Swiss owned bank based in Zurich with more than 50 employees. The bank is specialized in the financing of commodity flows in energy, agricultural goods, fertilizers and metals. It is focused on the EMEA region and provides commodity trade finance, foreign exchange, transactional banking and hedging. Its operations are based on a strong balance sheet with strong liquidity and capital ratios well above regulatory requirements.

TradeXBank AG
Media Contact:
info@tradexbank.ch

tradexbank.ch 



End of Media Release


1980365  03.09.2024 CET/CEST

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Dis­clai­mer: Die hier an­ge­bo­te­nen Bei­trä­ge die­nen aus­schließ­lich der In­for­ma­t­ion und stel­len kei­ne Kauf- bzw. Ver­kaufs­em­pfeh­lung­en dar. Sie sind we­der ex­pli­zit noch im­pli­zit als Zu­sich­er­ung ei­ner be­stim­mt­en Kurs­ent­wick­lung der ge­nan­nt­en Fi­nanz­in­stru­men­te oder als Handl­ungs­auf­for­der­ung zu ver­steh­en. Der Er­werb von Wert­pa­pier­en birgt Ri­si­ken, die zum To­tal­ver­lust des ein­ge­setz­ten Ka­pi­tals füh­ren kön­nen. Die In­for­ma­tion­en er­setz­en kei­ne, auf die in­di­vi­du­el­len Be­dür­fnis­se aus­ge­rich­te­te, fach­kun­di­ge An­la­ge­be­ra­tung. Ei­ne Haf­tung oder Ga­ran­tie für die Ak­tu­ali­tät, Rich­tig­keit, An­ge­mes­sen­heit und Vol­lständ­ig­keit der zur Ver­fü­gung ge­stel­lt­en In­for­ma­tion­en so­wie für Ver­mö­gens­schä­den wird we­der aus­drück­lich noch stil­lschwei­gend über­nom­men. Die Mar­kets In­side Me­dia GmbH hat auf die ver­öf­fent­lich­ten In­hal­te kei­ner­lei Ein­fluss und vor Ver­öf­fent­lich­ung der Bei­trä­ge kei­ne Ken­nt­nis über In­halt und Ge­gen­stand die­ser. Die Ver­öf­fent­lich­ung der na­ment­lich ge­kenn­zeich­net­en Bei­trä­ge er­folgt ei­gen­ver­ant­wort­lich durch Au­tor­en wie z.B. Gast­kom­men­ta­tor­en, Nach­richt­en­ag­en­tur­en, Un­ter­neh­men. In­fol­ge­des­sen kön­nen die In­hal­te der Bei­trä­ge auch nicht von An­la­ge­in­te­res­sen der Mar­kets In­side Me­dia GmbH und/oder sei­nen Mit­ar­bei­tern oder Or­ga­nen be­stim­mt sein. Die Gast­kom­men­ta­tor­en, Nach­rich­ten­ag­en­tur­en, Un­ter­neh­men ge­hör­en nicht der Re­dak­tion der Mar­kets In­side Me­dia GmbH an. Ihre Mei­nung­en spie­geln nicht not­wen­di­ger­wei­se die Mei­nung­en und Auf­fas­sung­en der Mar­kets In­side Me­dia GmbH und de­ren Mit­ar­bei­ter wie­der. Aus­führ­lich­er Dis­clai­mer