ZKB earned slightly less in the first semester
Published: Friday, Aug 30th 2024, 07:50
Retour au fil d'actualité
Zürcher Kantonalbank (ZKB) was not quite able to match the record profit from the previous year in the first half of 2024. In particular, net interest income and net trading income were down.
The operating result as a measure of operating performance fell by 18.3 percent to 679 million francs, while Group profit was down 11.3 percent to 601 million francs. Operating income declined by 7.5 percent to 1.56 billion francs. The bank wrote in a press release on Friday that it had "once again achieved a pleasing half-year result in a challenging environment".
In the interest business, the bank's most important source of income, net income fell by 9.3 percent to CHF 858 million. The previous year's high figure was characterized by one-off special factors, according to the report. In addition to the return to a positive interest rate environment, the bank benefited in particular from the fact that the shift from customer deposits to higher-interest investment opportunities was slower than expected.
At 177 million francs, the result in the trading business was almost 30 percent lower. According to ZKB, the result reflects the lack of momentum in the first half of 2024. However, it was able to increase its commission and services business by 7.1 percent to 509 million francs.
The bank is optimistic about the future course of business. The extraordinarily high net interest income from the previous year will not be repeated to the same extent in 2024. Nevertheless, he expects a "pleasing result", CEO Urs Baumann is quoted as saying in the press release.
©Keystone/SDA
French 
English 
German 
Spanish 
Arabic