Clientis, a group of 15 regional Swiss banks, has attracted new assets amid a harsh business climate. How did they achieve that feat?
Clientis in the first six months of the year increased net income to 30.5 million Swiss francs, 30 percent up from a year earlier, the company said in a statement today.
«Our banks in the first half again worked very successfully in a challenging environment,» said Andreas Buri, CEO of Clientis AG, the center of expertise and services of the group. «It is pleasing that they manage to improve on all important core numbers.»
Better Full-Year Result
Clientis expects the full-year result to be better than last year's – in particular because of a further growth in volume and the trust of its clients.
Operating profit rose 4.8 percent to 104 million francs, the first time it reached a level above 100 million francs.
Net interest income added 6.6 percent to 82.4 million, the biggest contribution to the company's profit. The figure rose despite the negative interest rates. «The volume growth of mortgages and cheaper refinancing costs mainly contributed to this,» said Buri.
Stronger Together
The collective liquidity management and the group's access to the capital market is helping the member banks of Clientis.
Costs rose 1.2 percent to 63.6 million francs. The banks employed 607 people (498 full-time equivalents) at 69 branches at the end of June, unchanged from a year earlier.
The company's efficiency increased further as the operating profit growth exceeded the increase in costs.
Client assets rose 2.1 percent in the first half, reaching 9.9 billion francs. Clientis isn't charging negative rates so far.
