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Basellandschaftliche Kantonalbank (BLKB) reported a profit of 166.4 million francs for 2024, marking a 9.1% increase from the previous year. This positive performance comes amid political pressure from an initiative aimed at restricting the bank's activities, which criticized its profit development and socio-political involvement. CEO John Häfelfinger emphasized the bank's commitment to regional businesses and sustainable success, while the government acknowledged BLKB's strong local roots and contributions to economic prosperity.
Basellandschaftliche Kantonalbank (BLKB) reported a profit of CHF 166 million for 2024, marking a 9.1% increase from the previous year, despite criticism over its investment in the digital bank Radicant. The bank's operating income rose by 4% to CHF 477.1 million, and it maintained a strong regional focus, with 57% of Basel residents as customers. Radicant, which has 10,000 clients and CHF 120 million in managed assets, is viewed as a long-term strategic investment, aiming for break-even by 2027/2028.
Basellandschaftliche Kantonalbank (BLKB) reported a record profit of 166.4 million Swiss francs, reflecting strong growth despite ongoing challenges, particularly regarding its subsidiary Radicant. With around 10,000 customers, Radicant is expected to break even by 2027 or 2028, although it has faced criticism and financial write-downs. CEO John Häfelfinger emphasized the bank's commitment to the Basel region, highlighting its significant contributions to local economic development.
BLKB reported strong financial results for 2024, with net income from interest rising to CHF 341.8 million, driven by growth in lending and mortgage sectors. The bank increased its equity base and distribution, with a dividend of CHF 42 per KBZ owner, reflecting a commitment to regional support and sustainable growth. Despite challenges in the low interest rate environment, BLKB remains optimistic about 2025, anticipating continued demand for financing.
Radicant Bank plans to merge with Zurich fintech Numarics, backed by UBS, to enhance its banking and investment services for private and corporate clients. The merger, pending regulatory approval, aims to simplify administration and expand offerings, with BLKB becoming the majority shareholder. Anton Stadelmann will lead the new company, headquartered in Liestal, as CEO.
Basellandschaftliche Kantonalbank (BLKB) is set to merge its subsidiary Radicant with fintech Numarics, pending regulatory approval. This merger aims to enhance services for private customers and target SMEs, with plans for a fully integrated range of banking and administrative services. Radicant's CEO, Anton Stadelmann, will lead the new entity, which will be headquartered in Liestal and governed by a six-person Board of Directors from both companies.
Numarics AG and radicant bank ag, both subsidiaries of Basellandschaftliche Kantonalbank (BLKB), have announced plans to merge, pending regulatory approval. This merger aims to create a comprehensive banking and financial services platform for private and SME clients, enhancing their offerings and market presence. BLKB will remain the majority shareholder, with additional investments from venture capital firms.
In a strategic move, radicant bank ag and Numarics AG plan to merge, aiming to create a comprehensive banking, financial investment, and administration platform for private and SME clients. The merger, pending regulatory approval, will enhance service offerings and broaden the investor base, with BLKB as the main shareholder. Anton Stadelmann, former CEO of radicant, is set to lead the new entity, which will be headquartered in Liestal.
Radicant, a subsidiary of Basellandschaftliche Kantonalbank (BLKB), is merging with fintech Numarics to enhance its offerings for small and medium-sized enterprises (SMEs) and private clients. The partnership aims to create a fully integrated suite of banking and administrative services, with a goal of achieving breakeven by 2027/2028. Anton Stadelmann will remain CEO, while Numarics co-founder Kristian Kabashi will become COO, as the merged entity seeks to broaden its market presence and investor base.
Thomas Schneider
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Basellandschaftliche Kantonalbank reports profit increase amid political pressure and initiative
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