The unexpected continuation of the health crisis has once again confirmed the solidity of the operational organization of Banque Cramer & Cie SA.
Norinvest Holding SA (hereinafter “NIH”) focuses on the management of its sole holding, namely Banque Cramer & Cie SA (hereinafter the “Bank” or “BCC”).
After a year 2020 marked by the completely unprecedented situation of the COVID-19 pandemic, the 2021 financial year had a scent of deja vu, with a repetition of episodes of restrictions followed by more or less orderly relaxations. In this extraordinary context, BCC largely managed to hold its own, recording, thanks to the renewed efforts of all the staff, a strong increase in its operating profit.
The unexpected continuation of the health crisis has once again confirmed the soundness of the Bank’s operational organization. The experience acquired in 2020 and the great flexibility offered by the outsourcing of administrative functions in IT and the back office have enabled the Bank to get through this particular period without any problems. All the systems worked perfectly, allowing the teams to stay focused on their usual missions vis-à-vis customers and partners.
The peace of mind made possible by the reliability of the organization enabled the Bank to continue in 2021 the optimization of all its processes initiated two years ago, which led to good control of expenses and better control of investments.
NIH Group Accounts
As of December 31, 2021, the group’s consolidated equity increased by CHF 1.1 million to CHF 68.6 million compared to CHF 67.5 million at the end of 2020.
The consolidated total of the Group’s cumulative net income during the 2021 financial year increased by CHF 2.1 million to CHF 41.9 million (2020: CHF 39.8 million).
The group’s consolidated net result for 2021 is a profit of CHF 5.1 million (2020: CHF 3.4 million).