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Zuger Kantonalbank is enhancing loan conditions for housing cooperatives to address the housing shortage in Canton Zug. Following the "Housing Policy Strategy 2030," the bank has increased loan-to-value ratios and improved affordability assessments, aiming to boost the construction of affordable apartments. CEO Hanspeter Rhyner encourages other banks to support local cooperatives in meeting the urgent demand for housing.
Zuger Kantonalbank is enhancing financing conditions for housing cooperatives in Zug, offering higher loan-to-value ratios and improved affordability calculations. CEO Hanspeter Rhyner encourages other banks to support these initiatives to address the urgent need for affordable housing in the region.
Hanspeter Rhyner, CEO of Zuger Kantonalbank, reported a slight increase in net interest income despite falling rates, driven by strong credit growth. The bank anticipates continued volatility in financial markets but does not foresee a widespread crash, maintaining a solid equity base and proactive risk management. Demand for fixed-rate mortgages is rising, while their crypto offerings have seen unexpected interest since launch.
Zuger KB has pioneered cryptocurrency trading among Swiss cantonal banks, prompting others to follow suit amid rising customer demand. The integration of crypto services into traditional banking platforms is facilitated by partnerships with specialized firms like Sygnum, allowing access to a range of cryptocurrencies. While the adoption of crypto offerings is growing, traditional banks remain cautious, balancing regulatory concerns and customer preferences.
Zuger Kantonalbank plans a significant modernization of its headquarters at Baarerstrasse 37, adding four storeys and a roof terrace, with construction set to begin in 2028. The renovation aims to enhance energy efficiency, improve customer advisory experiences, and create flexible workspaces, while prioritizing sustainability and regional value creation. The project, designed by Miller & Maranta, will retain the core of the existing building and is expected to take two years to complete.
Zuger Kantonalbank reported a 0.9% increase in operating profit to CHF 142.1 million for 2024, driven by strong performance in investment and asset management, despite a 2% decline in group profit. Operating expenses rose 6.6% due to new hires and inflation, while the bank's equity base strengthened with a CHF 150 million bond issuance. Looking ahead, the bank aims to expand its market position and continue growth amid a challenging geopolitical and financial landscape.
Zuger Kantonalbank (ZGKB) reported a slight increase in operating profit to CHF 142.1 million for 2024, driven by strong performance in investment and asset management. However, group profit fell by 2% to CHF 122.4 million, reflecting the inability to replicate the previous year's exceptional results. Looking ahead, ZGKB anticipates a solid 2025, despite geopolitical tensions, and plans to maintain a dividend of CHF 220 per share.
Hanspeter Rhyner
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Andreas Janett
Hanspeter Rhyner
14:22 03.02.2025
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