Banque Cler improves its half-year profitability

From January to June, the banking establishment recorded an operating result of 42.5 million francs, a jump of 20.7% compared to the first half of 2021.

Banque Cler has unveiled the results of a first half on the rise. The subsidiary of Basel Cantonal Bank (BKB) has managed to improve its profitability.

From January to June, the banking establishment recorded an operating result of 42.5 million francs, a jump of 20.7% compared to the first half of 2021. Operating income rose by 3.1 % to 125.5 million, said a statement Thursday.

Banque Cler was able to reduce its costs by 4.6% to 77.9 million, generating an operating profit of 125.5 million francs, up 3.1% over one year, and increase the reserves for general banking risks by 15 million at the end of the first half.

Net profit meanwhile increased by 2.0% to 20.5 million.

Mortgage loans, up by 198.2 million francs (+1.2%) reached a record at 16.1 billion, underlines the document.

The result of interest operations follows the same upward trend, reaching 89.4 million (+0.6%). Income from commission and service transactions improved significantly by 10.3% to 29.2 million francs.

The Zak online banking application now has more than 52,000 users, or more than 8,000 customers in one year.

For 2022, management expects higher operating income and significantly higher earnings, “despite geopolitical tensions, financial market volatility and inflationary pressure.”

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