2023-08-10 04:52:43
The Bernese Cantonal Bank (BCBE) saw its profit jump in the 1st half, thanks in particular to the rise in interest rates. Loans to customers continued to grow in a context of vitality in the real estate market. She is confident for the current exercise.
During the first six months of the year, the commercial result jumped by 10.6% to 270.2 million francs, said the cantonal establishment on Wednesday in a press release. Operating profit increased by 42.7% to 115.7 million. In the end, net profit increased by 24.6% to 75.6 million.
Loans to customers increased by 1.6% to 28.1 billion francs, including 26.4 billion in mortgage loans, which is explained by the dynamism of real estate, indicates the BCBE. Customer funds fell 0.8% to 27.6 billion francs.
The increase in customer loans and the normalization of interest rates benefited interest operations, the pillar of the institution’s profitability, whose gross profit jumped 30.7% to 197.5 million. frank. On the other hand, income from commissions and services fell by 7.1% to 52.5 million, in a context of stock market volatility and uncertainty.
Operating expenses increased by 3.1% to 129.8 million francs. As for assets under management, it increased by 4.0% in the space of six months to 40.6 billion.
For the whole of the 2023 financial year, Chief Executive Officer Armin Brun says he is confident. “We are expecting a higher net result than in 2022,” he said, quoted in the press release.
Finally, the bank also announced the appointment of Domenico Sottile as head of the key clients and asset management department. In this capacity, he will sit in the general management. Mr. Sottile was previously Head of Wealth Management at UBS for the Solothurn region.
This article has been published automatically. Source: ats/awp
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