Record profitability and dividend (+10%)
The Banque Cantonale de Genève recorded excellent 2019 results.
underpinned by all of the bank’s activities. Net profit was up 6.2% at CHF 96.8 million. Total income exceeded CHF 420 million, mortgage loans (at CHF 11.7 billion, +2.6%) increased based on a targeted approach while assets under management and administration crossed the CHF 30.4 billion threshold (+13.9%). Productivity corresponds to the levels achieved by the best universal Swiss banks with international activities, as indicated by the cost/income ratio of 56.9%. Current operating expenses are contained, hence enabling the bank to engage greater resources to widen the service offer, including digital banking, in favour of business and individual clients. Profitability, expressed by the earnings to equity ratio, comes out at 10.1% and compares favourably with its peers. For 2020, the Bank expects operating profitability to be close to 2019 levels. The dividend of CHF 3.75 to be proposed at the Annual General Meeting is up by 10%.