Press «play» to listen to this content
1x
Playback Speed- 0.5
- 0.6
- 0.7
- 0.8
- 0.9
- 1
- 1.1
- 1.2
- 1.3
- 1.5
- 2
interest rate environment challenges clientis group. the 14 banks of the clientis group continued their growth trajectory in the first half of 2024. however, the tide has turned in the interest rate business. on the other hand, loans and customer deposits have developed positively. the operating income of the clientis banks (income from ordinary banking activities) was slightly higher than the previous year at chf 101.6 million (+0.6 percent) as of the end of june 2024. the interest rate business is no longer running quite as smoothly. net income in this area fell by 0,5 percent to 77,6 million francs in the first half of 2024. «the interest rate environment remains challenging,» says matthias liechti, ceo of clientis. income from commission and service business developed positively, increasing by 3,8 percent to 12,4 million francs. trading income rose by 13,7 percent to 3,6 million francs. other ordinary income was slightly above the previous year at 8,1 million francs, an increase of 1,5 percent. higher personnel expenses. operating expenses increased by 4,9 million francs to 57,7 million francs. one reason for this is higher personnel expenses (+4,1 percent); the number of full-time positions at the 47 locations increased from 415 to 433, corresponding to a 4.3 percent rise. another reason for the increase in operating expenses was higher administrative costs (+6,1 percent). overall, the clientis group achieved a profit of 32,0 million francs (-3,3 percent). growth in mortgages. customer deposits increased by 1,7 percent to 10,1 billion francs in the first half of the year. these deposits financed 83,6 percent of the loans, which increased by 2,0 percent to 12,1 billion francs. of this, 94,8 percent, or 11,4 billion francs, was attributable to the core business of mortgages (+2,1 percent). the balance sheet total increased by 2,6 percent to 14,5 billion francs.
Interest rate environment challenges Clientis Group
The 14 banks of the Clientis Group continued their growth trajectory in the first half of 2024. However, the tide has turned in the interest rate business. On the other hand, loans and customer deposits have developed positively.
The operating income of the Clientis banks (income from ordinary banking activities) was slightly higher than the previous year at CHF 101.6 million (+0.6 percent) as of the end of June 2024.
The interest rate business is no longer running quite as smoothly. Net income in this area fell by 0,5 percent to 77,6 million francs in the first half of 2024. «The interest rate environment remains challenging,» says Matthias Liechti, CEO of Clientis.
Income from commission and service business developed positively, increasing by 3,8 percent to 12,4 million francs. Trading income rose by 13,7 percent to 3,6 million francs. Other ordinary income was slightly above the previous year at 8,1 million francs, an increase of 1,5 percent.
Higher personnel expenses
Operating expenses increased by 4,9 million francs to 57,7 million francs. One reason for this is higher personnel expenses (+4,1 percent); the number of full-time positions at the 47 locations increased from 415 to 433, corresponding to a 4.3 percent rise. Another reason for the increase in operating expenses was higher administrative costs (+6,1 percent).
Overall, the Clientis Group achieved a profit of 32,0 million francs (-3,3 percent).
Growth in mortgages
Customer deposits increased by 1,7 percent to 10,1 billion francs in the first half of the year. These deposits financed 83,6 percent of the loans, which increased by 2,0 percent to 12,1 billion francs. Of this, 94,8 percent, or 11,4 billion francs, was attributable to the core business of mortgages (+2,1 percent). The balance sheet total increased by 2,6 percent to 14,5 billion francs.