Bern Cantonal Bank Posts Good Q2 Results

Nick Parmee

22 August 2008

At BEKB | BCBE, net pre-tax income excluding profit from the disposal of a participation was up 7.1 per cent to SFr73.4 million ($67.5 million; preceding period SFr68.6 million). The two core businesses (private and corporate banking and asset management) both grew. In asset management, net new money of SFr874 million was achieved.

One of the main focuses of BEKB | BCBE's loan activities was private clients and SMEs in the Swiss Mittelland region, where 4,918 loans worth a total of SFr1.2 billion were made during the first half of the year. Overall lending increased to SFr14.9 billion.

Client funds (saving deposits, medium term notes and other liabilities to customers) increased 3.6 per cent during the first half of the year to SFr16.5 billion, and customer liquidity also remained high. The balance sheet total as of the end of the first half of 2008 was SFr21.7 billion, 1.8 per cent up on the beginning of the year.

The number of customer investment accounts increased by 4 per cent to over 95,000. Assets under management increased to SFr19.9 billion. At SFr17.4 million, earnings on trading transactions exceeded the result of the prior period by SFr5.2 million.

After taxes and excluding profit from the disposal of a participation, profit for the first half of the year was up 7.2 per cent to SFr52.0 million (preceding period: SFr48.5 million).