The Cantonal Bank of Geneva (BCGE) unveiled on Tuesday a half-year performance marked by the increase in business volumes, revenues and results.
With a net profit qualified as ‘record’, the establishment announces an increase in the overall result, equity and dividend for 2022.
Net income was 78.4 million francs, up 21.9% compared to the same period the previous year, BCGE said on Tuesday. Operating profit increased by 21.3% over one year to 93.7 million.
Towards a rising annual result
Assets under management amounted to 33.0 billion at the end of June, down 3.3% compared to the end of 2021, while customer loans and mortgage loans reached 18.7 billion (+2.1 %). Representing 43% of the bank’s balance sheet total, mortgage loans are “stable, a sign of a disciplined diversification policy,” the statement said.
The jump in profitability is mainly due to a sharp increase in revenue, up 12.6% to 231.2 million francs.
The number of private and institutional shareholders has also increased, reaching 15,615 on 30 June, of which 15,230 are private, underlined the BCGE on Tuesday. The floating share of capital is widely distributed since 83% of shareholders hold between 1 and 50 shares.
For the 2022 financial year as a whole, management is now expecting a higher overall result.
/ATS