Operating profit at the St Gallen-based Raiffeisen group of cooperative banks rose 8 per cent in the first nine months to a record SFr737.6 ...

Operating profit at the St Gallen-based Raiffeisen group of cooperative banks rose 8 per cent in the first nine months to a record SFr737.6 million ($618 million). Interest income grew 5 per cent to SFr1.3 billion, fees and commissions increased 18 per cent and trading income rose 11 per cent. The group consists of 411 legally independent cooperative banks which together have about 6,750 employees, 2.9 million customers and client assets of around SFr100 billion. Bank Vontobel in Zurich handles its securities transactions and provides investment services to its clients.