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2013 Financial news

16 December 2013

BCV to participate in US Department of Justice’s program

BCV has decided to participate in the US Department of Justice (DoJ) program concerning the US-Swiss tax dispute and will do so as a category 2 financial institution. This will not affect the Bank’s distribution policy.

14 November 2013

BCV posts Q3 results in line with trend; operating profit at CHF 351m

BCV Group’s financial results at 30 September 2013 were in line with the trend observed thus far this year. While business volumes were once again on the rise, the low-interest-rate environment and the Bank’s strategy of moderate growth in mortgage lending weighed on revenues. The top-line trend was partly offset by firm cost control, and operating profit for the period was down 4% to CHF 351m.

22 August 2013

Continuing business volume growth and stable profit trend at BCV Group in a challenging environment

BCV Group's business volumes remained on an upward trend in H1 2013. The low-interest-rate environment and the Bank’s voluntary cap on growth in mortgage lending continued to weigh on revenues, but earnings remained in line with previous years thanks to firm cost control. Operating profit was down slightly to CHF 237m (–2%) and net profit declined 4% to CHF 151m.

13 June 2013

Markus Gygax leaving BCV to head up Valiant Bank

Markus Gygax, Head of BCV’s Retail Banking Division and Member of the Executive Board, has accepted the position of CEO at Valiant Bank. He will be leaving BCV on 30 November 2013. BCV regrets his departure and wishes him all the best in the next stage of his career.

25 April 2013

Positive business trend at BCV Group in Q1 2013, with slightly lower operating profit

In the first quarter of 2013, BCV Group experienced business growth in line with the trend observed in 2012, with volumes rising slightly. However, interest income was down as a result of the low-interest-rate environment and prudent liquidity management, and this led to a CHF 6m decline in operating profit to CHF 115m.

14 February 2013

BCV Group posts strong 2012 results, with net profit up 3%; distribution policy extended for 5 years

BCV Group turned in strong 2012 financial results. Revenues remained above the CHF 1bn mark, operating profit held steady at CHF 486m and net profit grew 3% to CHF 311m. In addition, the Group has extended the distribution policy that it announced in 2008 for another 5 years. Accordingly, at the next Annual Shareholders’ Meeting the Board of Directors will propose an ordinary dividend of CHF 22 and a special dividend of CHF 10 per share out of paid-in reserves. The Group will thus pay out CHF 275m to shareholders. The Canton of Vaud will receive CHF 185m in distributions, together with CHF 65m in cantonal and municipal taxes for 2012, for a total of CHF 250m.