Martin Ebner’s BZ Bank has done very well this year even as the negative central bank rates affected its interest-bearing business.

BZ Bank had a profit of 32.2 million Swiss francs in the year that ended on November 30, the company said in a statement today. Profit almost doubled from a year ago, when the bank founded by financier Martin Ebner in 1985 post net of 16.2 million.

Commission and fee income rose to 38 million francs from 21.6 million a year ago, trading income was 6.2 million (up from 2.4 million), while the business with interest income returned another loss. Operating costs increased to 8.4 million from 8 million a year ago.

Client Assets Rise

BZ Bank managed client assets worth 14.6 million francs, up from 12.2 million a year earlier. Most of the assets held by its customers are invested in equities.

The bank specializes in the trade of equity securities, in advising its clients in equity investments and stake holdings, asset management, the management of collective investments as well as corporate advisory.