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Berner Kantonalbank (BEKN) has demonstrated stability in a volatile market, with its share price holding at EUR 243.50 as of September 22, 2024, just below its 52-week high of EUR 260.50. The bank offers an attractive dividend yield of 4.13%, surpassing the sector average, and is recognized for its conservative business approach and strong regional ties. Recent analysis indicates a pressing need for action among shareholders, prompting questions about whether to buy or sell.
Idorsia AG is grappling with significant financial challenges, highlighted by a 34% drop in share price to EUR 1.508, despite the recent approval of its antihypertensive drug Aprocitentan in the USA. The company is focusing on cost-cutting and launching new products to improve its financial situation, with quarterly figures due in May expected to indicate the effectiveness of this strategy. The short-term outlook for Idorsia shares remains uncertain, hinging on the company's ability to stabilize its financing in the long run.
UBS is selling 19 branches across Switzerland, including the Locarno branch, as part of its consolidation following the integration of Credit Suisse. This significant real estate transaction allows potential buyers to acquire individual properties or the entire portfolio, with a closing deadline expected in spring 2025. UBS plans to close 85 branches to streamline its network, aiming for 190 branches by 2026, similar to its pre-takeover count.
UBS is selling 19 branches across Switzerland as part of its consolidation efforts following the integration of Credit Suisse. The properties, located in areas such as Locarno, Glarus, Einsiedeln, and Martigny, can be acquired individually or as a package. Ultimately, UBS plans to close 85 duplicate branches, maintaining a network of 190 by 2026.
Switzerland's financial landscape is bolstered by a landmark agreement with the UK, enhancing cross-border access for wholesale financial services. The Mutual Recognition Act, signed on December 21, 2023, allows firms to operate under their home regulations, fostering investor confidence and solidifying Switzerland's status as a global banking leader. As assets under management in the Swiss fund market surpass CHF1.5 trillion, both local and foreign interest in Swiss investment opportunities continues to grow.
UBS is launching "Project Horizon," offering 19 commercial properties across Switzerland for sale, primarily from Credit Suisse, with a signing/closing expected by spring 2025. Interested buyers must sign a confidentiality agreement and can bid on individual properties or as a portfolio. The sale reflects the significant downsizing of Credit Suisse following its emergency acquisition by UBS.
EFG International has welcomed four former XP advisors—Thiago Favery, Raphael Pinheiro, Fernando Olea, and Felipe Sebe—who manage a combined $3.5 billion portfolio, to enhance its private banking services for high-net-worth Brazilian clients. They will officially join the Miami office after their non-compete period ends in December. EFG, a leading Swiss private banking group, manages assets of CHF 160 billion and is recognized for its personalized wealth management solutions.
Frédéric Rochat, Managing Partner at Lombard Odier, discusses the firm's long-term investment strategy amid declining profits and industry challenges. He expresses concern over the proposed inheritance tax initiative in Switzerland, warning it could destabilize the economy by forcing entrepreneurs to relocate or liquidate their businesses. Rochat emphasizes the importance of preserving Switzerland's balanced economic model, which supports both large corporations and small to medium-sized enterprises.
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.
Roman Pfranger, 37, has been appointed CEO of Neue Bank, Liechtenstein's fourth-largest bank, effective end of January, following a 15-month leadership gap. With over 15 years of experience in Vaduz, he aims to leverage the bank's strengths for future growth alongside a stable executive team. Under his leadership, Neue Bank, managing 6.8 billion francs in assets, seeks to enhance its operational success and ambitious plans.
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