Banque Cler: stable half-yearly profit despite falling rates

Bank Cler has published its results for the first half of 2024, posting a half-year profit of CHF 21.7 million, a slight increase of 1.1% compared to the previous year. This is despite challenges such as the significant cut in the Swiss National Bank's key interest rate.

The bank saw notable growth in its mortgage business (+1.2%) and its customer base (+1.7%). Customer funds also increased by CHF 0.4 billion (+3.0%), reaching CHF 16.8 billion (+3.9%). Strong demand for the Savings Account Plus and the Zak Savings Account contributed to this growth.

Banque Cler has stepped up its investments in training and staff development, increasing the workforce by 23 full-time positions. Branches and digital channels have also been modernized, leading to an increase in operating expenses of 4.9%.

Ultimately, even though operating income fell by 5.2%, the bank maintains solid foundations for future growth, with stable capital ratios that exceed FINMA requirements.