Zurich, 14 May 2025 – 2024 was characterized by dynamic shifts and steady recovery in global markets. In Europe, including Switzerland, financial institutions operated in a complex environment marked by regulatory developments, geopolitical tensions and fluctuating commodity prices.

Despite these uncertainties, TradeXBank delivered a solid improvement in operative performance, with operating income up 20% YoY. This growth was primarily driven by a 30% YoY increase in the gross result from interest operations. The strong performance in interest income reflects both improved margins and a 23% YoY increase in the size of the average credit portfolio.

The bank remained disciplined on cost over 2024 and achieved a 6% reduction of OPEX, reflecting operational efficiency gains.

Strong balance sheet and capitalization

TradeXBank continues to operate based on a well-capitalized balance sheet and sound liquidity profile allowing for further growth. As of 31 December 2024, its CET1 ratio was at 106.86% while the liquidity coverage ratio stood above 900%.

Camille Sednaoui, CEO of TradeXBank says: “2024 marked a pivotal year for us, as we made significant strides on our path to full recovery. We re-established our USD transaction capabilities, secured our first-ever credit rating and obtained full clearance from the U.S. Office of Foreign Asset Control. These milestones were reflected in our strong operational performance. We delivered exceptional growth, increasing fivefold compared to the previous year – demonstrating the success of our strategic repositioning, renewed commercial momentum, and strengthened market confidence.”

“Despite this impressive progress, our overall financial results were impacted by an unfavorable decision in a London arbitration court related to a legacy legal case from 2022 resulting in a net loss for the bank. While the court’s ruling is disappointing to us, we view this as a critical closure of past uncertainties, allowing us to fully focus on executing on our strategic plans for the future. This event also underscores the importance of maintaining a robust capital and liquidity position to absorb unexpected event” he adds.

Camille Sednaoui concludes: “Our liquidity and capital position remain strong, enabling us to continue investing in our growth-initiatives, our resilience including compliance and risk – laying the foundation for sustainable performance of our business.”

Outlook

As we look toward 2025, TradeXBank is confident in its strategic positioning and ready to build on the strong foundation laid in 2024. The bank anticipates sustained momentum in the global commodities markets and foresee robust opportunities for expanding its core commodity trade finance business. TradeXBank’s priority remains enhancing operational efficiency, deepening relationships with existing clients and strategically expanding its market presence.