PostFinance noted that less than four years after its launch, Yuh has reportedly reached an important milestone: the Swiss finance app is said to be profitable.
PostFinance also mentioned in a blog post that with now more than 300,000 users and customer assets of 3 billion CHF being reported, Yuh is said to be among the most widely-used Swiss financial apps and continues to grow with a “first reported profit of 1,700,000 CHF (as of the end of December 2024). ”
The momentum is said to be evident in the comparison to the previous year: in 2024, the “number of accounts rose by 48%, and customer assets doubled.”
Markus Schwab, CEO of Yuh said:
“We originally planned to break even by 2025 – a sign that a well-thought-out strategy, decisive action and an unwavering focus on our customers can achieve great things. However, this success is not an excuse to rest on our laurels, but rather an incentive to continue growing, challenge traditional banking and inspire even more people with constant innovation.”
Beat Röthlisberger, CEO of PostFinance, adds:
“At PostFinance, we are [pleased] to be part of Yuh’s success story. Becoming the most popular finance app in Switzerland in record time is a great achievement. We look forward to seeing what Yuh will achieve next.”
Marc Bürki, CEO of Swissquote said:
“Yuh’s success shows that we are ideally positioned to continue to grow and drive innovation. Our focus is on sustainable growth and continuous development. With a clear strategy and the right drive, we will continue to set new standards in the financial world in the future.”
In an announcement made earlier this year, it was noted that around a year after introducing the trading and custody of cryptocurrencies, PostFinance is expanding its offering to include the “staking” function.
The banking services provider said this means that passive income can now be “generated by depositing cryptocurrencies.”
PostFinance claims it is the first “systemically important” bank to offer this functionality.
In February of last year, PostFinance made the trading and custody of cryptocurrencies available to its customers in collaboration with FINMA-regulated Sygnum, a banking group for digital assets.
The offer now also includes the “staking” functionality.