{
}
BCV reported a 5% decline in operating profit to CHF 515 million and a 6% drop in consolidated profit to CHF 441 million for 2024, following record results in 2023. Despite lower net interest income, shareholders will benefit from a proposed dividend increase to CHF 4.40 per share. The bank remains solidly capitalized with a CET1 ratio of 16.8% and assets under management rising to CHF 124.2 billion.
St. Gallen Cantonal Bank reported a 3.8% decline in net profit to 215.1 million Swiss francs for 2024, despite lower interest rates. Revenues fell by 3.3% to 561.7 million, while assets under management rose to 64.5 billion Swiss francs, bolstered by CHF 3.1 billion in new money. Shareholders will receive an unchanged dividend of 19 Swiss francs per share.
The Cantonal Bank of St. Gallen reported a 3.8% increase in net profit for 2024, reaching 215.1 million Swiss francs, despite a 3.3% drop in overall revenues. Shareholders will receive an unchanged dividend of 19 Swiss francs per share, with expectations for fiscal 2025 to match last year's performance. The bank attracted 3.1 billion in new money, raising assets under management to 64.5 billion, while customer loans grew by 5% to 33.8 billion.
Julius Baer, UBS, and Vontobel have shown divergent performances following their annual results, with Julius Baer shares down 8% due to high costs despite strong investment banking earnings. In contrast, Vontobel reported a 24% profit increase, driven by private client growth, while UBS faces potential capital requirement challenges. The future remains uncertain as these banks navigate their respective hurdles.
Zeno Staub, former CEO of Vontobel, has been selected as the President of the University Council of the University of St.Gallen, pending confirmation by the Cantonal Council. With extensive management experience and regional ties, he aims to enhance the university's practice-oriented teaching and research. Staub will also stand for election to Vontobel's Board of Directors in April 2025.
The Swiss Private Banking Identity Index 2025 evaluates 59 Swiss private banks, focusing on their identity as a strategic tool for competitiveness. Only 14% are classified as "Leaders," while 59% are "Laggards," indicating a need for stronger identity formulation and communication. The top three banks—Vontobel, Pictet, and Banque Heritage—demonstrate that a strong identity correlates with higher growth rates, emphasizing the importance of understanding and expressing a bank's unique culture and values.
UBS shares initially rose but fell 3.5% to CHF 30.68 after the release of its 2024 annual results, despite exceeding expectations and announcing a higher dividend. Analysts praised the bank's performance and cost management, though concerns about new capital adequacy regulations and mixed results in wealth management weighed on investor sentiment.
Swiss banks face significant job cuts as they announce annual results for 2024. Julius Baer has already revealed 400 layoffs, while UBS is set to cut around 3,000 jobs due to the integration of Credit Suisse. Employees express exhaustion and uncertainty amid restructuring, despite UBS projecting a profit exceeding four billion dollars for the year.
This week marks a significant period for corporate financial disclosures, with key reports from major players like Julius Baer, UBS, and Valiant. Investors are particularly focused on new CEO Stefan Bolliger's strategies at Julius Baer and UBS's integration of Credit Suisse, alongside updates from various banks and companies facing market challenges. The week will culminate with Ems-Chemie's results and the IPO of BioVersys, highlighting the ongoing shifts in the financial landscape.
Swiss banks, including Julius Baer and UBS, are set to announce their annual results for 2024, with job cuts anticipated, particularly at Julius Baer due to high costs. UBS is expected to eliminate around 3,000 positions as it integrates Credit Suisse, leaving employees in a state of uncertainty and exhaustion. The financial sector faces challenges as it navigates the aftermath of the CS demise, with questions about the effectiveness of new client advisors and the potential for further layoffs.
Vontobel Holding AG
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Vaud cantonal bank reports profit decline but increases shareholder dividend
13:26 13.02.2025
st gallen cantonal bank reports profit increase despite lower interest rates
Swiss Franc
St. Galler Kantonalbank AG
Vontobel Holding AG
CHE
DEU
Ausano Cajrati Crivelli
Christian Schmid
Andreas Venditti
Show more
14:05 12.02.2025
st gallen cantonal bank reports profit increase despite lower interest rates
Swiss Franc
St. Galler Kantonalbank AG
Vontobel Holding AG
CHE
Ausano Cajrati Crivelli
Andreas Venditti
10:25 12.02.2025
three banks face challenges as vontobel outperforms competitors in recent results
12:05 11.02.2025
zeno staub appointed president of university of st gallen council
10:11 07.02.2025
Swiss private banking identity index reveals leaders and laggards in competitiveness
United States Dollar
Swiss Franc
Pictet TR - Atlas
Banque Heritage
Vontobel Holding AG
CHE
Show more
07:00 07.02.2025
UBS shares fall despite strong annual results and high dividend announcement
Swiss Franc
United States Dollar
Vontobel Holding AG
JPMorgan Chase & Co.
Deutsche Bank RV Global PP
CHE
Show more
12:50 04.02.2025
Swiss banks face significant job cuts amid financial restructuring challenges
United States Dollar
Zürcher Kantonalbank
Vontobel Holding AG
Julius Bär Gruppe AG
CHE
Daniel Bosshard
Natalia Ferrara
Stefan Bollinger
Show more
11:34 03.02.2025
key corporate earnings reports highlight banking sector developments this week
Swiss Franc
Valiant Holding AG
UBS Group AG
Leonteq AG
Luzerner Kantonalbank AG
LEM Holding SA
Vontobel Holding AG
BioVersys AG
Julius Bär Gruppe AG
Compagnie Financière Tradition SA
Zuger Kantonalbank
EMS-CHEMIE HOLDING AG
SPS Holding AG
CHE
Sergio Ermotti
Stefan Bolliger
Show more
05:00 03.02.2025
job cuts loom as swiss banks report challenging annual results
United States Dollar
Zürcher Kantonalbank
Vontobel Holding AG
Julius Bär Gruppe AG
CHE
Daniel Bosshard
Natalia Ferrara
Stefan Bollinger
Show more
00:02 03.02.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
Retail and Consumer Goods
CEO Changes
Industry Mergers & Acquisitions
Central Bank Actions
Global Trade Developments
GDP Growth & Recession Forecasts
Financial Scams and Security
Market Analysis and Predictions
Inflation and Monetary Impact
Government Policies
Government Economic Policies
Workplace Trends
Startups & Entrepreneurship
Supply Chain Management
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Barclays PLC
Bank of America Corporation
Wells Fargo & Company
Citigroup Inc.
Deutsche Bank Money Market PP
Morgan Stanley
Huawei Technologies CO. Ltd.
Lloyds Banking Group plc
Microsoft Corporation
UBS Group AG
Credit Suisse Lux Digital Healt
Amazon.com, Inc.
Banco Santander, S.A.
Credit Suisse Strategic Income I
NVIDIA Corporation
AXA SA
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Russian Ruble
Australian Dollar
Canadian Dollar
United Arab Emirates Dirham
Indonesian Rupiah
Saudi Riyal
South Korean Won
Danish Krone
Offshore Chinese Yuan
Turkish Lira
Hong Kong Dollar
Mexican Peso
Malaysian Ringgit
People: