Banca del Gottardo announced that it was selling its Dreieck Industrie Leasing business to Fortis for SFr99 million ($77.9 million). The Lug...

Banca del Gottardo announced that it was selling its Dreieck Industrie Leasing business to Fortis for SFr99 million ($77.9 million). The Lugano-based bank said the strategy was part of its efforts to focus on private banking activities. Dreieck Industrie Leasing is the third largest leasing company in Switzerland with total leasing volume of around SFr879 million. “The decision to sell Dreieck Industrie Leasing is based on our strategy to focus on private banking activities…The transaction has no impact on our targets in terms of net profit and return on equity,” said Marco Netzer, the out going chief executive of Banca del Gottardo.