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Beat Röthlisberger, head of Postfinance, aims to invest CHF 25 billion in Swiss SMEs to fill the financing gap left by Credit Suisse's collapse. However, he requires political support to amend the Postal Organization Act, which currently prohibits Postfinance from granting corporate loans. Despite structural challenges, Röthlisberger believes this move could enhance competition and provide reasonably priced financing for SMEs.
Zürcher Kantonalbank (ZKB) maintains its status as the "world's safest commercial bank" with a triple-A rating, despite the OECD minimum tax, which will not alter financial distributions to the canton and municipalities. CEO Urs Baumann cautioned against stricter capital requirements, warning it could lead to a credit crunch, while highlighting ZKB's commitment to private banking and digital assets. The bank also reported a significant reduction in variable salaries for employees, reflecting a shift in its remuneration model.
Luzerner Kantonalbank (LUKB) has issued a 150 million franc additional tier 1 (AT1) bond, marking the first such issuance in the Swiss market since the turmoil following the Credit Suisse case. This move aims to strengthen LUKB's capital base, with the bond rated BBB- by Standard & Poor's and an interest rate of 3% until its first call date in 2030.
Zürcher Kantonalbank (ZKB) is focusing on growth in French-speaking Switzerland, celebrating the first anniversary of its Lausanne branch. The bank aims to meet the increasing demands of pension funds and institutional clients, with plans for potential further expansion in the region. The local team's expertise and understanding of the market are seen as key advantages in a competitive landscape.
Zürcher Kantonalbank (ZKB) reported CHF 29.8bn in net new money for 2024, an 8.7% increase from the previous year, with client assets rising to CHF 520.8bn. Consolidated profit fell by 9.5% to CHF 1.1bn due to higher taxes, while profit before taxes increased by 3.4% to CHF 1.3bn. CEO Urs Baumann anticipates intensified competition and potential interest income reductions in 2025, but remains optimistic about the bank's diversified business model.
Zürcher Kantonalbank reported a 3.3% decline in income to CHF 3.1 billion and a 10% drop in profits to CHF 1.1 billion, primarily due to the OECD minimum taxation, which increased tax expenses significantly. While fee income rose by 8.9% to over CHF 1 billion, net interest income fell by 8% to CHF 1.7 billion, leading to a deteriorating cost-income ratio of 55%. The canton of Zurich will receive a reduced dividend of CHF 184 million, down 46%, despite a record total distribution of CHF 562 million.
Zurich's Zürcher Kantonalbank (ZKB) is distributing CHF 562 million to the canton and its municipalities, an increase of CHF 4 million from the previous year. The canton will receive CHF 361 million, while municipalities will maintain their share of CHF 170 million. Finance Director Ernst Stocker expressed satisfaction with the bank's performance despite a slight dip in profits compared to last year.
Zürcher Kantonalbank (ZKB) reported a pre-tax profit of CHF 1.29 billion for 2024, a 3.4% increase year-on-year, despite a 9.5% drop in net profit to CHF 1.12 billion due to a significant rise in tax expenses linked to the OECD minimum tax. While total operating income fell by 3.3% to CHF 3.09 billion, earnings from commission and service business rose by 8.9% to CHF 1.02 billion, driven by strong growth in assets under management. ZKB also gained approximately 30,900 new customers, contributing to a 15.5% increase in total client assets to CHF 520.8 billion.
Zürcher Kantonalbank reported a consolidated pre-tax profit of CHF 1,289 million for 2024, a 3.4% increase from the previous year, despite a significant rise in tax due to the OECD minimum tax. Client assets surged to CHF 520.8 billion, driven by a net inflow of CHF 29.8 billion and strong market performance. The bank maintains robust liquidity and capital ratios, exceeding regulatory requirements, while anticipating increased competition and margin pressure in 2025.
Zürcher Kantonalbank (ZKB) has rapidly emerged as a significant player in wealth management, attracting 30 billion francs in new assets last year and managing a total of 520 billion francs. With average employee earnings at 212,000 francs, ZKB offers competitive compensation alongside job security and a strong pension, benefiting from the fallout of the CS collapse. This growth positions ZKB closely behind UBS and Julius Baer in the private banking sector.
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