This change allows Yuh to drive its expansion strategy more effectively. Meanwhile, Postfinance will focus «on the core elements of its strategy and on those areas within the company that deliver the greatest impact for its customers in today’s challenging market environment.»

Better Use of Synergies and a Broad Product Offering

Beat Röthlisberger, CEO of Postfinance, commented on the exit: «At Postfinance, we are extremely proud to have been part of Yuh’s success story. It underscores our role as an innovator in Switzerland. Yuh has become the most popular finance app in Switzerland in record time, which is an outstanding achievement.»

Swissquote CEO Marc Bürki emphasized: «We continue to stand by our long-standing, successful partnership with Postfinance. Today’s step allows us to fully integrate Yuh into our overall offering.» With the full acquisition, Swissquote will be able to harness synergies between the two companies even more strongly and provide a broad range of services for all target and age groups.

Postfinance’s Stake in Swissquote Increases

Yuh is valued at a total of 180 million francs in the transaction. According to the announcement, Swissquote paid part of the purchase price in the form of its own shares (treasury shares), thereby increasing Postfinance’s previous 5 percent stake in Swissquote.

Postfinance emphasized that, despite the sale, it will continue to strengthen its digital business and expand related services. Röthlisberger commented that Postfinance intends to continue following its own path in digital banking.

According to Swissquote’s press release, Yuh had 342,369 customer accounts with assets totaling 3.2 billion francs as of the end of June. This means that Swissquote, including its new wholly owned subsidiary, has surpassed the one million customer accounts mark, reaching 1,050,762 accounts as of June 30.