SWIFT reports record traffic and strong financial results for 2006
SWIFT announced today it experienced strong growth in all major markets in 2006. A traffic increase of 13.7% and sustained financial performance have enabled SWIFT to return a total of EUR 65 million in benefits to customers.
Messaging traffic increased by 13.7% to 2.86 billion messages SWIFT returns EUR 65 million in customer benefits
The savings for the community constituted EUR 23 million in free hardware security modules, an 8% mid-year price reduction of EUR 16 million, and a rebate for the fifth consecutive year worth EUR 26 million.
For the first time, the 7% rebate was applicable to all messaging services, not only FIN. Before rebate, revenue amounted to EUR 588 million, a 5.2% increase due mainly to revenue from interface sales and strong messaging traffic. SWIFT 2010 strategy
The March 2006 Board approved the ongoing SWIFT2010 strategy, which incorporates four strategic growth thrusts: Extending client reach into Corporates and Trade Services; European harmonisation by supporting SEPA, TARGET2, Giovannini and MiFID in payments and securities; expansion in emerging markets; and establishing a presence in the pre-settlement space of securities and derivatives. The strategy has been positively received by the community and progress to date is on target. L?zaro Campos, Chief Executive Officer, SWIFT, said, “Solid growth in 2006 enables us to put the additional resources in place to deliver on our 2010 strategy. We expect to recruit 400 people worldwide in 2007, half of which will be based at our headquarters in Belgium. With a dedicated and talented global staff and the commitment and strength of our community, we are confident we will continue to increase our share of the cooperative messaging space in an increasingly competitive market.” Francis Vanbever, Chief Financial Officer, SWIFT added, “Since 2001 we have reduced the average messaging price by 50%, while we invested heavily in technology renewal and increased resilience. This was achieved thanks to economies of scale and tight cost management. Our strong financial performance provides a solid foundation to finance future investments and reduce prices by another 50% over the next five years.” The 2006 annual report, published 8 May 2007, is now available on www.swift.com .
–www.theasianbanker.com (May 30 2007)–