BKB will pay 5 million more than before for the state guarantee
Published: Wednesday, Oct 16th 2024, 07:40
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The Basler Kantonalbank (BKB) will pay CHF 15.2 million annually from 2025 to 2028 to cover the state guarantee. This is CHF 5 million more than in the last four-year period.
The Government Council of the Canton of Basel-Stadt has set the amount of the compensation for the state guarantee accordingly, as the bank announced on Wednesday. The compensation compensates the canton for its liability for the bank's liabilities. In the event of the bank's bankruptcy, the canton would have to assume the outstanding debts.
On the one hand, the amount is intended to compensate the bank for this risk; on the other hand, it also takes into account the bank's cost advantage in order to avoid distortions of competition.
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