BZ Bank, the company founded and run by Martin Ebner, has had a tough year amid a lull in investment activities. It earned significantly less than in 2015.
BZ Bank posted a profit of 16.2 million Swiss francs in the twelve months through November, the company said in a statement. This is 9.5 million francs less than a year earlier. The return on average equity dropped by half to about 40 percent.
Assets Under Management Rise
Commission business and services generated a profit of 21.6 million francs (down from 26 million) and trading contributed 2.4 million, roughly half of the amount achieved in 2015. Net interest revenue was negative because of the introduction of negative interest rates by the central bank. Operating expenses were 8 million francs.
Assets under management – which are mainly invested in equities – amounted to 12.2 billion francs, up from 10.6 billion a year ago.
Equity Declines
Equity of the bank, founded in 1985 by Martin Ebner, declined by 8.8 million to 46.1 million francs.
Ebner this year returned as head of management after Roger Steiner was forced to resign on health reasons.
