Dukascopy Bank SA released its annual report for 2014, showing a decrease in revenues in comparison with the previous year.
The decline in 2014 year can be related mainly to lower volatility on markets, affecting most of the months in comparison with the 2013, what could be seen generally in entire FX industry. Dukascopy added that 2014 was extraordinary as the market experienced 8 months of low volatility in a row, highlighting the impact on trading activity.
The Switzerland-based broker and bank reported revenues of CHF 27.1 million during the year ending 2014, while the preceding year, ending December 31, 2013, showed revenues of CHF 30.1 million. As the operating expenses remained according to the planned budget, lower income helped to decrease gross profit. Despite this lower outcome, Dukascopy was able to close the year with optimistic profit, taking into account the poor environment.
We can see also more positive news in the Dukascopy’s annual report. The client’s base has been growing during the period, showing a 21.9% increase in deposits over 2014 year in comparison with the preceding one. Moreover, Swiss bank attractiveness has been confirmed by the institutional clientele, which showed even more remarkable increase, by 85.9% (together with white laber partners).
Nevertheless, gross profit brought clouds over the client’s optimism, showing a 76.8% decline from 2013 to 2014, reaching only poor CHF 1.3 million, compared to CHF 5.6 million reached in 2013.
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