GENEVA, Switzerland, Aug. 6 /CNW/ - "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 EUR 7.5 billion, whereas it had amounted
to EUR 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 Thevenaz, partner and
Deputy CEO of Synthesis Bank.
Thierry Thevenaz 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 EUR 15 commission for a EUR 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
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
Synthesis Bank is convinced that electronic transactions are sure to
enjoy tremendous growth. Recalling a recent study by the University of Zurich,
Thierry Thevenaz 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.
In 1991 Charles-Henri Sabet, then aged 30, set up Trading & Commercial
Consulting (TCC) in Geneva, a firm specializing in forex operations, options
and interest rates. In 1999, thanks to its rapid growth, TCC - one of the main
European trading players - was granted banking status by the Swiss Federal
In 2000 the bank changed its name to Synthesis Bank. At the end of 2004
Synthesis Bank launched TradingFloor, its on-line trading room, which enables
all types of clients, private or professional, to trade all financial products
- in real time, 24 hours a day, on unrivalled terms: equities, bonds, options,
futures, precious metals, spot or forward forex operations. Synthesis Bank is
the great specialist for CFDs (Contracts For Difference).
For further information:
For further information: Jean Meneveau, Global Head of Marketing &
Communication, Telephone: +41-22-317-95-38, E-mail: email@example.com