Strong growth for Synthesis Bank, the most competitive Swiss online trading bank

(soon to offer real private banking online)

"The first half-year of 2007 has seen a further acceleration for our bank, which bodes very well for the rest of the year", notes Charles-Henri Sabet, founder and CEO of Synthesis Bank, the most competitive Swiss online bank.

In the space of six months, Synthesis Bank has:

Opened as many new accounts as during the whole of 2006, a year in which the number of its clients had already tripled
Met with increasing success in Zurich, where its very young branch already handles 30% of the new customers
Seen its customer deposits increase by 50%
More than doubled its volume of transactions in equities and CFDs; the volume of CFDs alone – which Synthesis Bank is the only Swiss platform to offer – reached € 7.5 billion, whereas it had amounted to € 6 billion for the whole of 2006
Despite the low volatility of the forex market, forex volume, for its part, has remained surprisingly stable compared with the record year seen in 2006, as the number of new customers offset the reduced activity of some institutional clients.

"We are being driven by investors’ renewed interest in the stock markets. Thanks to our intensive training efforts, investors are also understanding better and better the attraction of CFDs (Contracts for Difference), which offer some serious advantages and increased transparency compared with traditional stock transactions", emphasizes Thierry Thévenaz, partner and Deputy CEO of Synthesis Bank.

Thierry Thévenaz adds: "Thanks to advanced technology and the most favourable commissions in the market, we are determined to open up the financial markets to an ever-broader circle of investors. In the online trading market, we are 50% less expensive than the cheapest of our competitors. An active client will pay only € 15 commission for a € 15,000 securities transaction." What is more, Synthesis Bank is the only Swiss bank not to charge any custody fee.

This competitiveness is not the only asset of Synthesis. Trading professionals and external asset managers like its great transaction and real-time-reporting efficiency.

Online Swiss private banking

Charles-Henri Sabet for his part wishes to point out that "Synthesis Bank is much more than a mere computer trading platform. We are convinced that our success owes a great deal to the quality of the advice, analysis and assistance that we offer our customers, 24 hours a day."

Bearing this in mind, Charles-Henri Sabet disclosed that Synthesis Bank is preparing to implement its major project in the second half of 2007: to develop online asset management.

In response to the aspirations and expectations expressed by many clients, Synthesis Bank will offer them – depending on their own risk profile – a chance to invest in a more extensive range of products but involving lower risks, with real-time reporting. To this end and in order to facilitate market access, Synthesis Bank will launch a brand-new web site dedicated to financial information and advice. It will be designed to enable its customers to take more easily the opportunities afforded by the markets.

In parallel, Synthesis Bank will continue its intensive training drive in trading, in particular with its now-famous Trading Bars. Covering not only equities, CFDs, currencies and futures but also technical analysis, these courses or seminars, of different levels, are aimed at both beginners and professionals.

Synthesis Bank is convinced that electronic transactions are sure to enjoy tremendous growth. Recalling a recent study by the University of Zurich, Thierry Thévenaz highlighted the fact that an increasing number of Swiss people – like all Europeans – are adopting the cost benefits and transparency of electronic trading. In 2000 16% of investors carried out their transactions online. By the end of 2006, following a steady increase, the percentage had risen to 31%. By now this proportion must have seen a further clear increase.