The Swiss Times - Swiss News in English

The Bern Cantonal Bank Increases Profit Significantly in the First Half of the Year

The Bern Cantonal Bank (BEKB) had a strong start to the semester, with increased profits. The business revenue increased by 10.6% to 270.2 million Swiss francs, and the business success increased by 43% to 115.7 million. This resulted in a profit of 75.6 million Swiss francs, 14.6% more than the previous year. The expenses increased by 3.1% to 129.8 million Swiss francs. The net income from the central interest business increased by 18.2% to 195.1 million Swiss francs, mainly due to the increase in customer loans and higher interest rates from the Swiss National Bank. The commission and service business decreased by 7.1% to 52.5 million Swiss francs due to market volatility and uncertainty. Domenico Sottile will join the BEKB as Head of Key Clients and Asset Management from December 1st. The bank is confident that the stable situation, customer trust and current market conditions will lead to better results than the previous year.nnnnnn

©Keystone/SDA

Most Read

Sunday, February 11 – Round Up

11 February 2024
ZHdK's turmoil, dormant pension assets, and innovative solutions to the housing crisis. Stay informed with Sunday's top stories.

ETH President Highlights Financial Strain Despite Federal Savings Plan

11 February 2024
ETH President Mesot contradicts the Federal Council's plan to cut CHF 50 million from ETH Zurich, emphasizing the importance of reserves.

Swiss Production Sees Q4 Downturn Despite Sales Uptick

16 February 2024
Swiss production
Swiss production falls in Q4, challenging industry but with a rise in sales, showcasing sector resilience amidst economic complexities.

Temenos: Accounting Irregularities & Failed Products

16 February 2024
Temenos' journey through innovation, financial challenges, and accusations.

Stay in Touch!

Noteworthy

Zurich Commercial Court Summarizes Investor Lawsuits Regarding UBS/CS Merger
18 February 2024
Swiss security
Swiss Security Chief: “We Have to be Prepared for War”
18 February 2024