Bank Linth has increased its profit in the first half of this year, despite rising costs from a new headquarters. The Swiss bank has profited from higher business volumes.
Bank Linth’s profit rose 11 percent to 10.8 million Swiss francs in the first half of this year, the company reported in a statement today. The increase came despite the fact that the bank used significant resources to spruce up the headquarters in Uznach, boosting operating expenses 5.3 percent to 30.6 million francs.
The improvement of its performance became possible not least thanks to an improvement of interest income, higher commissions and fees as well as trading. Bank Linth performed significantly more currency transactions. Operating income rose 9.5 percent to 46.7 million francs.
Solid Result Expected
Bank Linth has suffered the loss of an institutional client in the first half, with the subsequent loss of 134.2 million francs in client assets. In total, the bank managed an increase to 6.9 billion francs from 6.8 billion at the end of last year.
Bank Linth expects a solid full-year result under prevailing market conditions.
