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bancastato appoints new leadership amid strong financial performance and community support
BancaStato Group reported a profit of 83 million francs in 2024, marking the second-best year in its history despite a 17.8% decline from 2023. The bank allocated over 60 million francs to the canton and increased its assets under management by 7.7% to 23.4 billion francs, reflecting strong client confidence and growth in lending volumes. Operating costs rose to 54.4% of net revenues, while capital adequacy remained robust at 233.3%, well above regulatory requirements.
BancaStato reports growth amid leadership changes and financial challenges
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 reports strong growth and new leadership in 2024
In 2024, BancaStato achieved its second-best year ever, with mortgage loans rising by 4.7% to 12.4 billion and a total balance sheet of 19.3 billion, reflecting a 7% increase. New client assets reached 613.5 million. Additionally, Lawyer Michela Ferrari-Testa has been appointed as Chairman of the Board of Directors, following approval from the Swiss Financial Market Supervisory Authority (FINMA).
bancastato board reshuffle raises concerns over expertise and regulatory approval
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 faces leadership changes amid concerns over board expertise
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.
Michela Ferrari-Testa appointed chairwoman of BancaStato board of directors
Michela Ferrari-Testa has been elected chairwoman of the Board of BancaStato, a position she will assume after serving as a board member since July 1, 2021. Expressing her honor at the appointment, she committed to contributing to the community and the economic development of the area.
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