The bank said it has been working to explain financial performance, and logged a substantial rise in profits in the first six months of 2023 from a year before.
bank, the boutique private bank and asset management firm,
has been cleared to delist from the SIX Swiss Exchange, the stock
market announced yesterday.
SIX Exchange Regulation AG said in a statement that it has approved the delisting of the firm’s registered shares. The last trading day will be 7 March 2024.
The firm had applied to make the move on 16 November this year
Besides its offices in Geneva, Lugano, Zurich, ONE swiss bank has a subsidiary in Dubai. It offers wealth and asset management services to private and institutional clients as well as financial intermediaries.
The bank has been working to improve its financial performance, as explained by chief executive Grégoire Pennone when the firm issued interim results in July this year.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first six months of 2023 rose by 528% per cent; net profit was SFr5.81 million ($5.918 million) more than doubling on a year ago. Assets under management reached SFr5.05 billion as at 30 June. It had a Common Equity Tier 1 ratio – a bank’s “shock absorber” – of 21.1 per cent as at 30 June 2023.