St. Galler Kantonalbank (SGKB) has seen an increase in corporate clients, potentially due to customers switching from larger banks.
The CEO, Schmid, mentioned in an interview with "St. Galler Tagblatt" that if the Swiss National Bank (SNB) eases its monetary policy, it could result in lower interest rates for SGKB's savings customers. Schmid also acknowledged that capital market interest rates have been decreasing, leading to cheaper mortgages and loans, but also putting downward pressure on interest rates for savings, fixed-term, and pension accounts.
The bank is considering the possibility of negative interest rates, although Schmid believes this would not be beneficial for the economy and may not be favored by the SNB. In terms of the challenges faced by the Olma trade fairs, SGKB remains committed to its role as a cooperative and shareholder, holding a seven percent stake in the trade fair operator. Schmid assured that the bank would continue to support any necessary measures in the future as part of a comprehensive solution.