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Luzerner Kantonalbank (LUKB) is set to become the first traditional bank in Switzerland to offer cryptocurrency deposit and delivery services starting October 1, 2024. Customers will be able to transfer Bitcoin and Ethereum to their securities accounts, with the service being rolled out in stages. This initiative follows increasing customer demand for crypto transactions via e-banking and expands LUKB's existing cryptocurrency trading and custody offerings.
Luzerner Kantonalbank's share price has been on a downward trend for several years. CFO Marcel Hurschler addressed the media in Lucerne, discussing potential reasons for this decline and outlining possible countermeasures to stabilize the situation.
Luzerner Kantonalbank is facing declining share prices, prompting the bank to engage more actively with institutional investors to clarify its business model. Despite some progress, the bank's leadership acknowledges that significant challenges remain, particularly amid broader market pressures affecting regional banks. Options to bolster the share price include potential share buybacks and an increased dividend, although the latter's long-term impact is debated.
The share price of Luzerner Kantonalbank has been on a continuous decline, raising concerns among shareholders. Chief Financial Officer Marcel Hurschler has addressed the situation, discussing potential reasons for the drop and outlining possible countermeasures to stabilize the stock.
Burkhalter Holding AG, with a market cap of CHF 937.29 million, offers electrical engineering services and boasts a 5% dividend yield, placing it among the top Swiss dividend payers. Despite a volatile track record, recent results show sales growth to CHF 570.3 million and a net profit of CHF 23.3 million. Romande Energie Holding SA, valued at CHF 1.23 billion, operates in energy production and distribution, with a stable dividend yield of 3% but concerns over sustainability due to low free cash flow coverage.
Luzerner Kantonalbank (LUKB) has expanded its crypto services, adding Chainlink and Polygon to its offerings, which already included Bitcoin, Ethereum, and USD Coin. Starting October 1, customers can transfer cryptocurrencies from other wallets to their LUKB accounts, with free transfers in and a fee for outgoing transactions. This move positions LUKB as a leading player in the cryptocurrency market, enhancing its appeal to investors.
Luzerner Kantonalbank (LUKB) is set to become the first traditional Swiss bank to offer deposit and delivery services for cryptocurrencies, starting October 1, 2024. Initially supporting Bitcoin and Ethereum, the bank will also allow transfers from other wallets to its custody accounts. LUKB aims to enhance its crypto offerings while ensuring security through ISAE 3000-certified infrastructure.
Luzerner Kantonalbank offers a stable dividend yield of 4.06%, supported by a solid payout ratio of 46.5% and an increase in net profit to CHF 144.73 million in H1 2024. Meanwhile, Phoenix Mecano, with a higher yield of 6.4%, faces sustainability challenges due to a cash payout ratio of 118.5% and declining sales.
Luzerner Kantonalbank (LUKB) will begin offering deposit and delivery services for Bitcoin and Ethereum starting October 1, 2024, becoming the first traditional bank in Switzerland to do so among cantonal banks. This service allows customers to transfer cryptocurrencies from other wallets to their securities custody account, complementing LUKB's existing crypto trading and custody offerings. The bank ensures secure custody of cryptocurrencies by adhering to recognized security standards, certified under the ISAE 3000 standard.
DKSH Holding AG, with a market cap of CHF 4.18 billion, reported a net income of CHF 111.2 million for H1 2024, despite a slight sales dip. Its dividend yield stands at 3.5%, supported by a 77% payout ratio. In contrast, EFG International AG offers a higher dividend yield of 4.82% and a net income of CHF 162.8 million, reflecting strong performance in the financial sector.
Luzerner Kantonalbank AG
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