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BancaStato reported a 7% increase in turnover for 2024, reaching over 19 billion francs, with operating income at 146 million and net income down 18% to 83 million francs. The mortgage sector saw a notable rise of 4.7% to 12.4 billion francs. Amid leadership changes following the deaths of key board members, FINMA has approved Michela Ferrari-Testa as chairwoman, emphasizing the need for technical expertise on the board. The state benefits from a 60 million franc injection from the bank.
BancaStato's Board of Directors faces scrutiny following the election of Michela Ferrari-Testa, a lawyer, as chair after the death of President Bernardino Bulla. With the departure of vice-chairman Luca Soncini, concerns arise over the board's banking expertise, prompting the Federal Supervisory Authority to emphasize the need for specialized knowledge in its members. The bank's recent elevation in FINMA's ranking highlights its potential risk to the Swiss financial system, necessitating a careful selection of new board members.
BancaStato's Board of Directors faces significant changes following the death of President Bernardino Bulla, with lawyer Michela Ferrari-Testa elected as his successor amid concerns over the board's banking expertise. The departure of vice-chairman Luca Soncini raises questions about the board's technical qualifications, especially as the Federal Supervisory Authority (FINMA) emphasizes the need for specialized knowledge in banking. Despite these shifts, the bank's operational structure remains stable, with a pressing need for highly qualified new board members.
Luca Soncini
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BancaStato reports growth amid leadership changes and financial challenges
12:23 14.03.2025
bancastato board reshuffle raises concerns over expertise and regulatory approval
06:41 01.02.2025
BancaStato faces leadership changes amid concerns over board expertise
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