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Basler Kantonalbank reported a 10% increase in consolidated profit to CHF 186.3 million for 2024, despite a slight decline in operating results. Shareholders will receive a total dividend of CHF 4.50, including a special anniversary dividend. Meanwhile, Bank Cler's profit rose marginally, with a focus on developing its Zak neobanking app, despite a 14.4% drop in operating profit.
Basler Kantonalbank (BKB) reported a 10% increase in consolidated profit for 2024, reaching CHF 186.3 million, despite a challenging interest rate environment. The bank will distribute a total of CHF 4.50 per participation certificate, including a special dividend of CHF 1.25. Looking ahead, BKB aims to implement its "2026+" strategy under new CEO Regula Berger, while navigating geopolitical and economic uncertainties.
Bank Cler reported a slight increase in net profit to 43.6 million francs for the 2024 financial year, despite a 14.4% drop in operating results to 79.5 million francs due to investments in the Zak neobanking app and staff training. The number of Zak users grew by over 10,000, and 9,700 new savings accounts were opened, totaling over 120 million francs. For 2025, the bank anticipates stable performance and continued investments in its employees and products.
Bank Cler reported a slight profit increase of 1.1% to 43.6 million francs for the 2024 financial year, despite a 14.4% drop in operating profit to 79.5 million francs due to investments in the Zak neobanking app and staff training. The number of Zak users grew by over 10,000, and 9,700 new savings accounts were opened, totaling over 120 million francs. For 2025, the bank anticipates stable performance and continued investments in its workforce and products.
Basler Kantonalbank reported a 10% increase in consolidated profit for 2024, reaching CHF 186.3 million, despite a slight decline in operating profit. Shareholders will receive a total dividend of CHF 4.50, including a special dividend for the anniversary year. The bank's focus on asset management helped offset declines in interest income and trading revenue, while the parent bank's profit rose by nearly 10%. Looking ahead, the new CEO aims to implement the "2026+" strategy amid ongoing market challenges.
The Swiss National Bank (SNB) has lowered its key interest rate by 0.5 percentage points, prompting several banks to anticipate significant cuts in savings rates. While Raiffeisen and Bank Cler have temporarily maintained their rates, others like Zuger Kantonalbank and Yuh are set to reduce theirs starting January 1, 2025. The outlook for savers remains grim, with many banks already tightening rates since October, and only a few institutions, such as the Cantonal Banks of Geneva and Thurgau, still offering higher rates.
Revolut is rapidly expanding its user base, aiming for 100 million customers while entering the real estate lending market in Lithuania, Ireland, and France. Swiss fintechs like Neon and Yuh are also thriving, with innovative solutions and transparent pricing, fostering competition that benefits consumers. Digital pension providers, such as Viac, are revolutionizing investment accessibility, although the market remains dynamic and competitive.
Basler Kantonalbank (BKB), founded in 1899, has total assets of 53.9 billion Swiss francs and serves nearly 430,000 customers as of June 30, 2024. Operating primarily in Northwestern Switzerland, BKB emphasizes stability, regional roots, and sustainability, while its subsidiary, Bank Cler, caters to private and real estate clients across all Swiss language regions.
Regula Berger will succeed Basil Heeb as CEO and Chairwoman of Basler Kantonalbank on March 1, 2025, after Heeb's decision to step down following six years in the role. Berger, 42, has been with the bank since 2019, serving as Deputy CEO and Head of Commercial Client Sales. Heeb will assist in the transition until the end of March 2025 before pursuing opportunities outside the Group.
Regula Berger will succeed Basil Heeb as CEO and Chairwoman of the Group Executive Board of Basler Kantonalbank on March 1, 2025, after Heeb's six-year tenure. Berger, currently Deputy CEO and Head of Commercial Client Sales, has been with BKB for six years and has extensive experience in the banking sector. Heeb will assist in the transition until the end of March before pursuing other opportunities.
Bank Cler AG
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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