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None of the 15 major Swiss retail banks are meeting international climate and biodiversity targets, according to a WWF ranking. On average, they scored just 2.2 out of 5, with Zurich Cantonal Bank leading and Banque cantonale vaudoise recognized for its sustainable credit offerings. Despite some progress, particularly in credit and financing, significant improvements are needed in investment practices and addressing biodiversity impacts.
Fund managers Sylvain Borand and Eric Chassot from Banque Cantonale Vaudoise are steering clear of the automotive sector, citing a cautious approach to avoid loss-making stocks. They note a gradual recovery among smaller Swiss industrial companies and view current market valuations as moderate, lacking clear buy or sell signals.
The Vaud Cantonal Council has approved a legislative amendment for Banque Cantonale Vaudoise (BCV), establishing a small age limit for members of the Executive Board, requiring resignation at 65 with a possible extension to 68. The Board of Directors will no longer have a 70-year limit, and the maximum terms have been reduced from four to three. The final vote saw 80 in favor, 44 against, and six abstentions.
Ethos has expanded its shareholder dialogue by adding four cantonal banks: Aargauische Kantonalbank, Banque Cantonale Vaudoise, Berner Kantonalbank, and Graubündner Kantonalbank, bringing the total to eight banks and asset managers engaged in active shareholder engagement. This initiative aligns with the Swiss Stewardship Code principles established in 2023. Ethos has been facilitating communication on ESG issues since 2004 through its Ethos Engagement Pool, which now includes 189 members with over CHF 375 billion in investments.
The Vaud Cantonal Parliament is debating changes to the governance of Banque cantonale vaudoise (BCV), proposing to abolish the age limit of 70 for Board of Directors members and reduce the maximum terms from four to three. While the government supports these changes for flexibility and skill retention, a compromise was reached for the Executive Board, allowing members to resign at 68 with certain conditions. A second debate on these amendments is expected next week.
The Grand Council is debating changes to the age limits for members of the Banque Cantonale Vaudoise (BCV). The government proposes abolishing the 70-year age limit for the Board of Directors and harmonizing the Executive Board's retirement age with bank staff, allowing members to work until 68 with approval. A compromise amendment for the Board of Directors was rejected, while the committee's amendment for the Executive Board was accepted, requiring resignation at 65 but allowing a derogation up to 68. A second debate is expected next week.
French-speaking Switzerland has experienced significant GDP growth of 49.5% from 2005 to 2024, driven by the chemical-pharmaceutical sector and strong diversification across industries. However, challenges such as an aging population, infrastructure needs, and geopolitical developments loom ahead, impacting future growth. Despite a slowdown in 2023, forecasts for 2024 suggest GDP growth will align closely with the Swiss average, with optimism for recovery in the secondary sector and construction.
Swisscom AG, a major telecommunications provider, has a dividend yield of 3.94%, with stable but unreliable dividends over the past decade. Despite a high debt level, its payout ratios indicate sustainability. Meanwhile, Meier Tobler Group offers a 4.64% yield, but its dividends have been volatile.
TX Group has returned to profitability with a net profit of CHF 9.6 million in H1 2024, supported by sustainable dividends with a payout ratio of 59.6%. The Swiss market has seen a 16% rise over the past year, with earnings expected to grow by 12% annually, highlighting opportunities in dividend stocks.
EFG International AG, with a market cap of CHF 3.63 billion, offers private banking and wealth management services, boasting a dividend yield of 4.58%. Despite a history of volatility in dividend payments, the payout ratio stands at 55.2%, indicating earnings coverage. TX Group AG, valued at CHF 1.57 billion, operates various media platforms in Switzerland, with a dividend yield of 4.2% and a payout ratio of 59.6%, though its dividend history raises concerns for income-focused investors.
Banque Cantonale Vaudoise
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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