Dukascopy Bank SA noted a net profit of CHF 1.3 million last year amidst market challenges.
It marks a significant fall from CHF 6.4 million in 2022 and is lower than the CHF 2.1 million profit from two years prior.
Tuesday’s report showed the cost-to-income ratio jumping to 89.2% from 71.3% the year before.
The ratio surged, with operating income dropping over CHF 5 million to CHF 22.1 million.
Early 2023 predictions hinted at a challenging year after a 33% decrease in trading income to CHF 9.6 million, especially following 2022’s near-record profit.
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