{
}
Christian Schmid, CEO of St.Galler Kantonalbank, reported a 10% decline in net interest income for 2024, attributing it to a return to long-term growth after a spike in 2023. Despite challenges in the industrial sector, the bank saw a strong increase in assets under management and customer trust, with a balanced business model mitigating losses in interest income. SGKB proposed a dividend of CHF 19 per share, reflecting a 52% payout ratio and a yield of 4.3%.
Thurgauer Kantonalbank (TKB) has been recognized as the best employer in Switzerland's financial sector, topping a survey conducted by Statista and Handelszeitung. Employees praised TKB for its sustainability, image, growth, stress management, and compensation, leading to the title "Best Employer in Switzerland 2025." Christian Schmid, Head of HR, expressed pride in the award, highlighting the bank's commitment to a modern and appreciative work culture.
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.
St.Galler Kantonalbank reported a net new money inflow of CHF 3.1 billion in 2024, raising total client assets to CHF 64.5 billion, a 9.8% increase. Despite a 7.2% drop in gross interest income due to fluctuating interest rates, group profit rose by 3.8% to CHF 215.1 million, supported by strong commission and trading income. The bank plans to propose a constant dividend of CHF 19 per share, distributing 53% of its profit to shareholders, while anticipating stable results for 2025 amid uncertain interest rate forecasts.
St. Galler Kantonalbank (SGKB) reported a 3.8% increase in consolidated profit to CHF 215.1 million for 2024, despite a 10.4% drop in net interest income due to lower interest rates. The bank's balanced model and strong performance in commission and trading businesses helped offset losses, while customer deposits and loans grew significantly. SGKB plans to maintain its dividend at CHF 19 per share, with expectations for 2025 results to remain stable amid uncertain interest rate forecasts.
St.Galler Kantonalbank reported a net new money inflow of CHF 3.1 billion in 2024, raising total client assets to CHF 64.5 billion, a 9.8% increase year-on-year. Despite a 7.2% decline in gross interest income due to fluctuating interest rates, group profit rose by 3.8% to CHF 215.1 million, supported by strong net commission and trading income. Operating expenses increased by 3.8%, driven by a rise in personnel costs and IT investments, with 31 new full-time positions added.
St. Galler Kantonalbank (SGKB) reported a 3.8% increase in profits for 2024, reaching 215.1 million Swiss francs, driven by strong performance in investment products. The bank managed 64.5 billion in client assets, up 9.8% from the previous year, and plans to propose a dividend of CHF 19 per share at the upcoming Annual General Meeting. For 2025, SGKB anticipates stable results amid uncertain interest rate forecasts.
St.Galler Kantonalbank reported a consolidated profit of CHF 215 million for 2024, a 3.8% increase from the previous year, despite a nearly 7% drop in operating income due to falling interest rates. The bank's balanced business model and gains in the securities sector, alongside stable dividends for shareholders, contributed to this success. Looking ahead, SGKB anticipates results similar to the previous year amid uncertain interest rate trends.
SGKB has seen a 6.5% increase in corporate clients since the start of 2023, attributed partly to customers moving from larger banks. CEO Christian Schmid indicated that interest rates for savings accounts will depend on the SNB's upcoming assessment, with potential for lower rates and even negative interest rates being considered. The bank aims to maintain a dividend payout ratio of at least 50% of profit and remains committed to supporting the Olma trade fairs as a shareholder.
SGKB has experienced growth in corporate clients, attributed to customers migrating from larger banks following the CS bankruptcy. CEO Christian Schmid indicated that potential changes in savings account interest rates will depend on the Swiss National Bank's upcoming monetary policy decisions, with current trends showing a decline in capital market interest rates, leading to cheaper mortgages and loans.
Christian Schmid
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
st galler kantonalbank reports mixed economic outlook and strong growth in assets
07:06 26.02.2025
Thurgauer Kantonalbank named best employer in Swiss financial sector 2025
08:37 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 Galler Kantonalbank reports steady growth and balanced financial performance in 2024
12:07 12.02.2025
st galler kantonalbank reports increased profit despite declining interest income
08:48 12.02.2025
St Galler Kantonalbank reports strong growth and balanced financial performance in 2024
08:13 12.02.2025
St Galler Kantonalbank reports profit increase and stable outlook for 2025
07:39 12.02.2025
St Gallen KB boosts profit despite declining interest income and market challenges
05:00 12.02.2025
SGKB Sees Growth in Corporate Clients Amid Changing Interest Rate Landscape
09:04 06.12.2024
SGKB Sees Client Growth Amid Anticipated Interest Rate Cuts by SNB
10:16 04.12.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Market Analysis and Predictions
Retail and Consumer Goods
CEO Changes
Financial Scams and Security
Global Trade Developments
Central Bank Actions
GDP Growth & Recession Forecasts
Industry Mergers & Acquisitions
Government Policies
Hedge Funds & Private Equity
Inflation and Monetary Impact
Workplace Trends
Startups & Entrepreneurship
Government Economic Policies
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Bank of America Corporation
Wells Fargo & Company
Citigroup Inc.
Barclays PLC
Morgan Stanley
Deutsche Bank Money Market PP
Lloyds Banking Group plc
Huawei Technologies CO. Ltd.
American Express Company
Credit Suisse Strategic Income I
Berkshire Hathaway Inc.
UBS Group AG
AMERICAN EXPRESS
Northern Trust Corporation
Amazon.com, Inc.
Banco Santander, S.A.
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Indian Rupee
Japanese Yen
Canadian Dollar
Australian Dollar
Russian Ruble
Mexican Peso
Saudi Riyal
United Arab Emirates Dirham
Indonesian Rupiah
Hong Kong Dollar
Danish Krone
Offshore Chinese Yuan
Singapore Dollar
Ghanaian Cedi
South Korean Won
People: